An empirical analysis of the influence of macroeconomic determinants on World tourism demand
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10071/13104 |
Resumo: | This paper considers three econometric models to determine the relationship between macroeconomic variables and tourism demand. Tourism demand is measured by the inbound visitor's population and also by on-the-ground expenditures. Macroeconomic determinants include the exchange rate, the relative domestic prices, and the World GDP per capita. The database is an unbalanced panel of 218 countries over the period 1995-2012. There is evidence that an increase in the World's GDP per capita, a depreciation of the national currency, and a decline of relative domestic prices do help boosting the number of arrivals and the correspondent expenditure level. The World's GDP per capita is more relevant when explaining arrivals, but relative prices become more important when we use expenditures as the proxy for tourism demand. In particular, we cannot reject the hypothesis of a relative prices unitary elasticity of expenditures. Additionally, we have also partitioned our data by income level and by continent. Results are robust in the first partition, but less robust in the second, although the main conclusions still hold. |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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An empirical analysis of the influence of macroeconomic determinants on World tourism demandExchange ratePanel data modelPoisson panel data modelRelative domestic pricesTourism demandWorld incomeThis paper considers three econometric models to determine the relationship between macroeconomic variables and tourism demand. Tourism demand is measured by the inbound visitor's population and also by on-the-ground expenditures. Macroeconomic determinants include the exchange rate, the relative domestic prices, and the World GDP per capita. The database is an unbalanced panel of 218 countries over the period 1995-2012. There is evidence that an increase in the World's GDP per capita, a depreciation of the national currency, and a decline of relative domestic prices do help boosting the number of arrivals and the correspondent expenditure level. The World's GDP per capita is more relevant when explaining arrivals, but relative prices become more important when we use expenditures as the proxy for tourism demand. In particular, we cannot reject the hypothesis of a relative prices unitary elasticity of expenditures. Additionally, we have also partitioned our data by income level and by continent. Results are robust in the first partition, but less robust in the second, although the main conclusions still hold.Elsevier2017-04-21T14:20:16Z2017-01-01T00:00:00Z20172019-03-22T09:43:31Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10071/13104eng0261-517710.1016/j.tourman.2017.01.008Martins, L. F.Gan, Y.Ferreira-Lopes, A.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:46:25Zoai:repositorio.iscte-iul.pt:10071/13104Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:22:18.989052Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
An empirical analysis of the influence of macroeconomic determinants on World tourism demand |
title |
An empirical analysis of the influence of macroeconomic determinants on World tourism demand |
spellingShingle |
An empirical analysis of the influence of macroeconomic determinants on World tourism demand Martins, L. F. Exchange rate Panel data model Poisson panel data model Relative domestic prices Tourism demand World income |
title_short |
An empirical analysis of the influence of macroeconomic determinants on World tourism demand |
title_full |
An empirical analysis of the influence of macroeconomic determinants on World tourism demand |
title_fullStr |
An empirical analysis of the influence of macroeconomic determinants on World tourism demand |
title_full_unstemmed |
An empirical analysis of the influence of macroeconomic determinants on World tourism demand |
title_sort |
An empirical analysis of the influence of macroeconomic determinants on World tourism demand |
author |
Martins, L. F. |
author_facet |
Martins, L. F. Gan, Y. Ferreira-Lopes, A. |
author_role |
author |
author2 |
Gan, Y. Ferreira-Lopes, A. |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Martins, L. F. Gan, Y. Ferreira-Lopes, A. |
dc.subject.por.fl_str_mv |
Exchange rate Panel data model Poisson panel data model Relative domestic prices Tourism demand World income |
topic |
Exchange rate Panel data model Poisson panel data model Relative domestic prices Tourism demand World income |
description |
This paper considers three econometric models to determine the relationship between macroeconomic variables and tourism demand. Tourism demand is measured by the inbound visitor's population and also by on-the-ground expenditures. Macroeconomic determinants include the exchange rate, the relative domestic prices, and the World GDP per capita. The database is an unbalanced panel of 218 countries over the period 1995-2012. There is evidence that an increase in the World's GDP per capita, a depreciation of the national currency, and a decline of relative domestic prices do help boosting the number of arrivals and the correspondent expenditure level. The World's GDP per capita is more relevant when explaining arrivals, but relative prices become more important when we use expenditures as the proxy for tourism demand. In particular, we cannot reject the hypothesis of a relative prices unitary elasticity of expenditures. Additionally, we have also partitioned our data by income level and by continent. Results are robust in the first partition, but less robust in the second, although the main conclusions still hold. |
publishDate |
2017 |
dc.date.none.fl_str_mv |
2017-04-21T14:20:16Z 2017-01-01T00:00:00Z 2017 2019-03-22T09:43:31Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10071/13104 |
url |
http://hdl.handle.net/10071/13104 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
0261-5177 10.1016/j.tourman.2017.01.008 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Elsevier |
publisher.none.fl_str_mv |
Elsevier |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799134784985759744 |