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Researchers at Tourism Queensland have found that Backpacker accommodation has an income elasticity of demand co-efficient of 0.75. What type of good is Backpacker accommodation
Researchers at Tourism Queensland have found that Backpacker accommodation has an income elasticity of demand co-efficient of 0.75. What type of good is Backpacker accommodation and what does this value of 0.75 mean for an increase in the number of Backpacker hostels opening in Queensland if real incomes in the main source countries of our foreign tourists are expected to increase in the coming years?
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