Characteristics of U.S. demand for European tourism: A translog approach

Bakkal, Ilter; Scaperlanda, Anthony

doi:10.1007/bf02707314

“…Alternative approaches have been considered, as almost ideal demand systems, Papatheodorou (1999) and Divisekera (2003); structural equations system, Bakkal and Scaperlanda (1991); or seemingly unrelated regressions Pyo, Uysal and McLellan (1991).…”

Section: Modelling Tourists' Arrivalsmentioning

confidence: 99%

Tourism and Economic Growth in Latin American Countries: A Panel Data Approach

Eugenio-Martin

¹

,

Morales

²

,

Scarpa

³

2004

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The opinions expressed in this paper do not necessarily reflect the position of Terms of use: Documents in Fondazione Eni Enrico Mattei Tourism and Economic Growth in Latin American Countries: A Panel Data Approach SummaryWe consider the relationship between tourism and economic growth for Latin American countries since 1985 until 1998. The analysis proposed is based on a panel data approach and the Arellano-Bond estimator for dynamic panels. We obtain estimates of the relationship between economic growth and growth in tourists per capita conditional on main macroeconomic variables. We show that the tourism sector is adequate for the economic growth of medium or low-income countries, though not necessarily for developed countries. We then invert the causality direction of the analysis. Rather than explaining economic growth, we try to explain tourism arrivals conditional on GDP and other covariates such as safety, prices and education level, and investment in infrastructures. We employ a generalised least squares AR(1) panel data model. The results provide evidence that lowincome countries seem to need adequate levels of infrastructures, education and development to attract tourists. Medium-income countries need high levels of social development like health services and high GDP per capita levels. Finally, the results disclose that price of the destination, in terms of exchange rate and PPP is irrelevant for tourism growth.

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“…The number of studies devoted to tourist demand is vast, (Lim, 1997, Martin and Witt, 1989, Smeral and Witt, 1996, and Witt and Witt, 1995 with a general focus and (Bakkal and Scaperlanda, 1991, Divisekara, 1995, Eyemann and Ronning, 1997, Hannigan, 1994, Melenberg and Van Soest, 1996, Opperman, 1994, Pack, Clewer and Sinclair, 1995) with a regional focus, but the impact of climate and climatic change on tourism has received remarkably limited attention. This section focuses on tourist demand alone, to point out which factors other than climate affects the choice of tourist destination.…”

Section: Tourist Demandmentioning

confidence: 99%

Impact of Climate on Tourist Demand

Lise

¹

,

Tol

²

2001

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Non-technical summaryTourism, being volatile and situation-specific, is responsive to climate change. Data on destinations of OECD tourists and holiday activities of Dutch tourists are analysed with the help of statistical techniques to find optimal temperatures at travel destination for different tourists and different tourist activities. Globally, OECD tourists prefer a temperature of 21ºC (average of the hottest month of the year) at their choice of holiday destination. This indicates that, under a scenario of gradual warming, tourists would spend their holidays in different places than they currently do. The statistical analysis further suggests that preferences for climates at tourist destinations differ among age and income groups. Impact of climate on tourist demand -3 -

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“…Although it is unrealistic to think that expenditures on overseas travel could precede day-to-day necessities, the assumption in the literature directly follows a syllogism based on two fundamental premises. First, it is widely acknowledged that international tourism is considered a luxury good rather than a normal good (Lim, 1997), in that tourists must commit significant expenditures on costly goods such as airfare and hotels (Bakkal & Scaperlanda, 1991). Second, since it is a luxury good, demand should be dependent on the discretionary income of consumers (Crouch, 1992), which is the proportion of real earnings after normal expenses (i.e.…”

Section: Introductionmentioning

confidence: 99%

Do expectations of future wealth increase outbound tourism? Evidence from Korea

Kim

¹

,

Park

²

,

Lee

³

et al. 2012

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a b s t r a c tAs international tourism is generally considered a luxury good, models to date have shared an understanding that demand is dependent on discretionary income. However, consumption theories predict that a shift in demand can be induced without changes in actual earnings when expectations for future income are adjusted. This presumes demand for international tourism can be influenced by "wealth effects" from real estate and financial assets. This study tested for the wealth effect on Korean outbound travelers during the 20 years between 1989 and 2009. Korea is a unique place to examine in that Korean households possess housing assets and financial assets that are traded actively in markets. The results of this study favored the possibility of a significant wealth effect from housing on outbound travel demand, but not from financial assets. This may be explained by data sensitivity and the relative importance of financial assets in the Korean people's wealth portfolios. Implications and suggestions for future research are provided along with the findings of the study.

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Characteristics of U.S. demand for European tourism: A translog approach

Cited by 11 publications

References 7 publications

Tourism and Economic Growth in Latin American Countries: A Panel Data Approach

Tourism and Economic Growth in Latin American Countries: A Panel Data Approach

Impact of Climate on Tourist Demand

Do expectations of future wealth increase outbound tourism? Evidence from Korea

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