This paper focused on visitors' expenditures, traditionally utilized by many international tourist spots as a fundamental managerial indicator, in order to develop a method for identifying the decline of tourist spots at an early stage. Their functional effectiveness as an early warning indicator was assessed in terms of earliness and uniqueness. Specifically, the international tourist spots such as Singapore, the State of Hawaii of U.S.A. and Thailand were selected as cases for study, because they were likely to stagnate or decline after 1990. In order to evaluate the earliness in relation to relative earliness of warning, indicators of international visitors' expenditures (total visitors' expenditures, the average expenditure per visitor, and the average expenditure per visitor per day) were compared with those of visitors' flows (visitors' arrivals, visitors' stays, and the average length of stay). As a result of this comparison, it was confirmed that the indicators of the average expenditure per visitor and the average expenditure per visitor per day tend to give warning signals earlier than those of visitors' flows such as visitors' arrivals and visitors' stays. Furthermore, functional uniqueness to use visitors' expenditures as indicators was assessed by examining variations in correlation coefficients with the indicators of visitors' flows among the cases. The assessment showed that the correlation coefficients differed among tourist spots. Thereby, it was also confirmed that these indicators of the average expenditures were functionally unique.
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