Asymmetric responses in the tourism demand function

Agiomirgianakis, George; Bertsatos, Georgios; Tsounis, Nicholas

doi:10.1016/j.jeca.2018.e00103

Cited by 11 publications

(5 citation statements)

References 28 publications

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“…This finding is aligned with the theory stated in the introduction (Meltzer, 2014;World Bank, 2016;Zengin and Arici, 2017). It also agrees with that of Agiomirgianakis et al (2018). Meanwhile, in the short run, the study finds an influence of crude oil price volatility (despite being negative) on the number of foreign tourist arrivals, bringing this study to confirm the theory put forward by Yang et al (2002), Rentschler ( 2013 Similarly, in the short run, the exchange rate is found to positively affect the number of foreign tourist arrivals.…”

Section: Discussionsupporting

confidence: 87%

“…As a result, the number of foreign tourist arrivals is growing which ultimately increases the foreign exchange as well as promotes economic growth. For this reason, researchers have studied factors that can influence the number of foreign tourist arrivals including commodity prices such as crude oil and exchange rate (Sabon et al, 2018) and also the internet (Agiomirgianakis et al, 2018). In this section, we review several empirical studies on the effect of oil prices, exchange rate, and the internet on the number of foreign tourist arrivals in several countries.…”

Section: Literature Reviewmentioning

confidence: 99%

“…They found that there is an exchange rate effect on the number of foreign tourist arrivals. Likewise, studies on the effect of the internet on the number of foreign tourist arrivals have been carried out by, among others, Agiomirgianakis et al (2018) and the results of their study indicated that there the internet affects the number of foreign tourist arrivals.…”

Section: Introductionmentioning

confidence: 99%

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The Influence of Crude Oil Prices Volatility, the Internet and Exchange Rate on the Number of Foreign Tourist Arrivals in Indonesia

Millia

Adam

Saenong

et al. 2020

IJEEP

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This paper seeks to examine the influence of crude oil prices volatility, the internet, and exchange rate on the number of foreign tourist arrivals in Indonesia. Using a time-series dataset from 1995 to 2018 and employing an autoregressive distributed lag (ARDL) model plus an error correction model (ECM-ARDL), our research shows that in the long run, the internet has a positive influence on the number of foreign tourist arrivals. Every 1% rise in the internet, the number of foreign tourist arrivals rises by 0.49%. However, crude oil prices volatility and exchange rates do not significantly affect the number of foreign tourist arrivals. In the short run, there is a negative influence of crude oil price volatility on the number of foreign tourist arrivals. Meanwhile, the exchange rate positively affects the number of foreign tourist arrivals, meaning that the appreciation (depreciation) of the IDR exchange rate against the USD causes the number of foreign tourist arrivals to go down (up).

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Section: Discussionsupporting

confidence: 87%

Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

The Influence of Crude Oil Prices Volatility, the Internet and Exchange Rate on the Number of Foreign Tourist Arrivals in Indonesia

Millia

Adam

Saenong

et al. 2020

IJEEP

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“…The use of ICT in the tourism industry has been found to boost tourism demand [97,98]. ICT is also considered as a factor that significantly affects tourism, travel, and other related industries [99] and can improve the quality of the provided tourism services for specific sectors, such as medical tourism [100].…”

Section: Ictmentioning

confidence: 99%

The Role of Managerial and Technological Innovations in the Tourism Industry: A Review of the Empirical Literature

Giotis

Papadionysiou

2022

Sustainability

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The constant changes typically present in the market along with intense competition force companies to be flexible and adaptable. Firms that operate in the tourism industry need to be well prepared and ready to face challenges that arise on different levels. Managerial and technological innovations can play a significant role in the profitability, sustainable development and longevity of a company. In this respect, this paper aims to analyze the role of innovation, as well as the key elements that affect the capability of a firm to manage innovation (as corporate strategy, organizational structure, management style, employee management, innovation process and knowledge management). To this end, it highlights the importance of the way that a firm is directed in order to enhance its performance and maintain its competitive advantage in the market. Some of the results show that the proper style of management, appropriate personnel and a pleasant working environment characterized by collaboration among employees and managers enhance the possibilities of a firm to increase innovation. Moreover, some managerial implications are also proposed to assist managers of firms in the tourist industry to create appropriate strategies. Since managers are positive and support innovation in all aspects of the firm, this may also enhance the use of technology, which will give tourism firms increased opportunity to enlarge their market share. In addition, our study accentuates the roles of ICT, social media, mobile phones and smartphones, websites, as well as multimedia, virtual and augmented reality, artificial intelligence, and several other technological advances in the tourism industry, which have helped to develop operations and transform the process of travelling to a much more pleasant and efficient experience. Within this framework of the essential role of managerial and technological innovations in tourism, our study aims to provide an extensive review of the empirical studies that have been conducted to investigate these issues.

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“…Appreciation increases the price while depreciation does not affect the local price offered to the foreign tourists in the long run. In addition, the study of the influence of exchange rates on the tourism sector is also conducted by Agiomirgianakis, Bertsatos and Tsounis, (2018) ;Irandoust, (2019); Loganatan et al, (2019) ;Tung, (2019), was found that the exchange rate influenced the tourism sector. While the study of Tang et al, (2016); Wang & Tang, (2018) found no exchange rate influence towards the tourism sector.…”

Section: Introductionmentioning

confidence: 99%

Asymmetrical Exchange Rates Effect on Indonesia's Trade Balance in Tourism

Maulana

Dawood

Zulham

2021

jejak

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The main objective of this research is to analyze the effect of depreciation and real exchange rate appreciation on Indonesia's tourism trade balance bilaterally against Australia, China, Japan, Malaysia, and Singapore. Such analysis on bilateral relations have never been studied for developing markets countries, namely Indonesia. This study uses a linear ARDL approach and a nonlinear ARDL approach with the dependent variable on the tourism trade balance and the real exchange rate as independent variables. Income, foreign direct investment (FDI), and natural disasters as control variables. The empirical results show that Chinese and Japanese tourists respond positively to the depreciation in the real currency rate of exchange, thereby increasing Indonesia's tourism trade balance. Nonlinear ARDL shows that the relation concerning the real rate of exchange plus the balance of trade is non-symmetrical with respect to China and Japan, while Australia, Malaysia, and Singapore are symmetrical. These results suggest that the government should formulate policies to increase tourist visits from China and Japan. Further empirical results also found a J-curve pattern in Indonesia-China and Indonesia-Japan.

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Asymmetric responses in the tourism demand function

Cited by 11 publications

References 28 publications

The Influence of Crude Oil Prices Volatility, the Internet and Exchange Rate on the Number of Foreign Tourist Arrivals in Indonesia

The Influence of Crude Oil Prices Volatility, the Internet and Exchange Rate on the Number of Foreign Tourist Arrivals in Indonesia

The Role of Managerial and Technological Innovations in the Tourism Industry: A Review of the Empirical Literature

Asymmetrical Exchange Rates Effect on Indonesia's Trade Balance in Tourism

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