Tourist expenditure is an important measure of international tourism demand. This study is a review of expenditure analyses in a tourism context presenting a range of theoretical factors that could potentially affect tourism demand and expenditure. In addition, a review of 16 tourism expenditure studies that used micro data was conducted, to elicit the sample size, model specification, as well as the dependent and independent variables. The study concluded that greater emphasis should be given to micro-economic modelling of tourism demand and the investigation of the effect of psychological and supply-related factors on tourist expenditure. Keywords: review, tourist expenditure, micro-economic analyses