Demand elasticity estimates for New Zealand tourism

Schiff, Aaron; Becken, Susanne

doi:10.1016/j.tourman.2010.05.004

Cited by 93 publications

(69 citation statements)

References 27 publications

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“…The impact of prices on the number of tourists is di¤erent depending on the departing countries. The demand variation in tourism demand of New Zealand was estimated by Schi¤ and Becken (2011). The log-log speci…cation was chosen, which gives a direct elasticity estimate.…”

Section: Section 6 Concludesmentioning

confidence: 99%

An empirical analysis of the influence of macroeconomic determinants on World tourism demand

Gan²,

2017

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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 …rst partition, but less robust in the second, although the main conclusions still hold.JEL Classi…cation: C23, L83.

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Section: Section 6 Concludesmentioning

confidence: 99%

An empirical analysis of the influence of macroeconomic determinants on World tourism demand

Gan²,

2017

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“…Exchange rate movements are generally considered an important determinant of tourism demand. In particular, it is well known that exchange rate fluctuations dominate the overall price movements of relative tourism prices over time (Chang et al, 2013;Schiff and Becken, 2011). The discussion on the impact of the Swiss franc appreciation and economic stagnation of the main visitor countries on Swiss tourism is not new.…”

Section: Previous Literature and Empirical Modelmentioning

confidence: 99%

The sensitivity of winter tourism to exchange rate changes: Evidence for the Swiss Alps

Falk

2013

Tourism and Hospitality Research

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This paper investigates the impact of the appreciation of the Swiss franc on international tourism in Swiss Alpine resorts, city and lake destinations using annual data for winter seasons 2007/2008 to 2010/2011. Using median regression models, we find that the nominal and real appreciation of the Swiss franc has a large and significantly negative impact on international tourism demand in Alpine destinations during winter months. The elasticities of the relative price (to those of competing countries) range between À3.0 for foreign hotel nights and À2.1 for foreign hotel arrivals. In contrast, the real exchange rate effect is much lower in absolute terms for city and lake destinations. The results are not sensitive with respect to different measures of international tourism demand (arrivals, hotel nights and the length of stay). Income elasticities are also significant and large with values of two and higher. In general, these findings are robust to alternative estimation methods (i.e., median regression, robust regression method and ordinary least squares in first differences).

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“…Song, Kim, & Yang, 2009). As demonstrated by Schiff and Becken (2011) and Becken and Lennox (2012), an increase in global oil prices affects income from tourism (e.g. as a result of macro-economic changes such as reduced GDP and increased unemployment) and, as a result, impacts negatively on travel propensity, especially to long-haul destinations.…”

Section: Fuel Costsmentioning

confidence: 99%

Tourism megatrends

Buckley

Gretzel

Scott

et al. 2015

Tourism Recreation Research

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Tourism is affected by social, political, economic, technological and environmental changes at all scales. Population growth, redistribution of wealth, geopolitical changes and conflicts, rising fuel costs, climate change and its consequences, new technologies and work patterns, and all forms of social fashion influence who wants to travel where, for how long, to do what, and at what prices. Here, we examine six large-scale exogenous trends for the global tourism sector over the next 30 years: (1) The social, economic and environmental consequences of gradual warming and of extreme weather events associated with climate change; (2) The effects of higher fuel costs and social concerns on mass long-haul travel; (3) The role of new technologies, including social media, in marketing, managing, experiencing and monitoring tourism; (4) Economic growth and social change in the highly populous and newly wealthy BRICS nations, especially India and China; (5) The consequences of armed conflict and geopolitical negotiation for tourism, and the use of tourism as a tool for geopolitical interests; (6) The increasing linkages, and also conflicts, between tourism and conservation in many countries. Improved understanding of these megatrends, and the interactions between them, are priorities for future tourism research.

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Demand elasticity estimates for New Zealand tourism

Cited by 93 publications

References 27 publications

An empirical analysis of the influence of macroeconomic determinants on World tourism demand

An empirical analysis of the influence of macroeconomic determinants on World tourism demand

The sensitivity of winter tourism to exchange rate changes: Evidence for the Swiss Alps

Tourism megatrends

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