An Econometric Investigation of Greek Tourism: A Note

Our paper differs from previous studies by examining the issue of whether regime changes have broken down the stability of the long-run relationships between tourism development and real GDP in Taiwan for the 1959-2003 period. We empirically investigate the co-movements and the causal relationships among real GDP, tourism development, and the real exchange rate in a multivariate model. We use two different tourism variables-international tourism receipts and number of international tourist arrivals. To employ the unit root tests and the cointegration tests allowing for a structural break, the empirical evidence clearly shows that the causality between tourism and economic growth is bi-directional. Lastly, the international and cross-strait political change, economic shocks, and the relaxing of some tourism control and policies would break down the stability of the relationships between tourism development and economic growth. Overall, we do find the structural breakpoints, and they look to match clearly with the corresponding critical economic, political, or tourist incidents.(c) 2007 IMACS. Published by Elsevier B.V. All rights reserved

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Structural breaks, tourism development, and economic growth: Evidence from Taiwan

Lee

Chien

2008

Mathematics and Computers in Simulation

141

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Recent Developments in Econometric Modeling and Forecasting

Song

Witt

2005

Journal of Travel Research

453

366

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Eighty-four post-1990 empirical studies of international tourism demand modeling and forecasting using econometric approaches are reviewed. New developments are identified and it is shown that applications of advanced econometric methods improve the understanding of international tourism demand. An examination of the 22 studies which compare forecasting performance suggests that no single forecasting method can outperform the alternatives in all cases. However, the timevarying parameter (TVP) model and structural time series model with causal variables perform consistently well.

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An Econometric Model of Tourist Demand

Dritsakis

Athanasiadis

2000

Journal of Hospitality & Leisure Marketing

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Tourism today includes a wide array of economic and social activities on an international scale and covers all social classes. It is directly related with the development of every modern society and aims at meeting human needs in a developed culture so as to create the conditions for advancing understanding and kinship among the different peoples in order to achieve a better future for mankind. The tourism sector does not constitute a specific sector in an economy, but includes goods and services from various sectors. The present study focuses on foreign tourism due to its primary influence on changes made in the social and economic structure of the tourist-host country. This study employs an econometric model of tourist demand in a developed tourist market such as that in Greece which aims to improve its tourist product.

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An Econometric Investigation of Greek Tourism: A Note

Cited by 3 publications

References 5 publications

Structural breaks, tourism development, and economic growth: Evidence from Taiwan

Structural breaks, tourism development, and economic growth: Evidence from Taiwan

Recent Developments in Econometric Modeling and Forecasting

An Econometric Model of Tourist Demand

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