Abstract: Based on the quarterly data of 17 countries from 1999 to 2018, this paper constructs a dynamic fixed effect panel model of the impact of tourism price on inbound tourists, and studies the differences of the impact of tourism price on inbound tourism consumption in different countries. The results show that the actual relative price and the actual substitute price have significant negative effects on the inbound tourists, and the negative effect of the relative price is stronger. At the same time, the stability of domestic price level plays an important role in the number of inbound tourists. Compared with Southeast Asian countries, and the three countries closed to China, EU countries have more stable and rational preferences for China's inbound tourism consumption. A 1% increase in the openness of a country will bring 0.8% increase in the number of inbound tourists, but the openness of the source country will lead to the diversion of inbound tourists. Among the global financial crisis, SARS and terrorist attacks, SARS has the greatest negative impact on inbound tourists.