Implications of a long-term increase in oil prices for tourism

Becken, Susanne; Lennox, James

doi:10.1016/j.tourman.2011.02.012

Cited by 81 publications

(63 citation statements)

References 26 publications

(34 reference statements)

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“…As mentioned earlier, this period which is characterized by the highest activity of Atlantic hurricanes, not only impacted on the US economy but also created significant speculation in the oil market. As expected, both environmental and oil price shocks tend to exercise a negative impact on households' mood (Frijda, 1994), which in turn can affect their decisions regarding outbound tourism (Becken & Lennox, 2012).…”

Section: Figure 3 Here]mentioning

confidence: 69%

“…This led to a speculative rise in oil prices, as both regions are crucial for the oil industry (according to the US FTC (2006), the gasoline price reached a record price). Past research provides evidence that increased oil prices negatively affect tourism demand (Becken & Lennox, 2012) and economic prospects (Hamilton, 2011). Thus, it makes sense to argue that such events could impact on both sentiment and mood and in turn, affect decisions for engaging in outbound travel.…”

Section: Figure 2 Here]mentioning

confidence: 99%

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Sentiment, mood and outbound tourism demand

Dragouni

Filis

Gavriilidis

et al. 2016

Annals of Tourism Research

118

110

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We investigate spillover effects from sentiment and mood shocks on US outbound tourism demand from 1996 until 2013. We use the Index of Consumer Sentiment and Economic Policy Uncertainty Index as proxies for sentiment and the S&P500 as a proxy for mood. We find a moderate to high interrelationship among sentiment, mood and outbound tourism demand. More importantly, sentiment and mood indicators are net transmitters of spillover shocks to outbound tourism demand. The magnitude of spillover effects sourced by sentiment and mood is time-varying and depends on certain socio-economic and environmental events. Our results have important implications for policymakers and travel agents in their efforts to predict tourism arrivals from key origin countries and to plan their tourism strategy.

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Section: Figure 3 Here]mentioning

confidence: 69%

Section: Figure 2 Here]mentioning

confidence: 99%

Sentiment, mood and outbound tourism demand

Dragouni

Filis

Gavriilidis

et al. 2016

Annals of Tourism Research

118

110

View full text Add to dashboard Cite

show abstract

“…Climate mitigation studies conclude that policies may increase costs of tourism and reduce its economic growth in case of carbon taxes [24][25][26][27] or oil price increases [28], though other studies find no significant impacts [29] or believe that second order effects like a mode shift from aviation to the car, may even increase overall emissions when taxing aviation. Unfortunately, most of these studies fail to include important parts of the tourism system, e.g., by just dealing with air transport or international tourism thus failing to acknowledge shifts to other transport modes, or domestic tourism.…”

Section: Tourism and Transport Geographymentioning

confidence: 99%

“…Unfortunately, most of these studies fail to include important parts of the tourism system, e.g., by just dealing with air transport or international tourism thus failing to acknowledge shifts to other transport modes, or domestic tourism. For instance, Becken et al [28] state on page 135 that the main challenge "that global interactions within the tourism sector (e.g., substitution between destination countries) are not well accounted for" because of "current limitations of global datasets". We provide such a geographical database.…”

Section: Tourism and Transport Geographymentioning

confidence: 99%

The Emerging Global Tourism Geography—An Environmental Sustainability Perspective

Peeters

Landré

2011

Sustainability

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Abstract:The current development of tourism is environmentally unsustainable. Specifically, tourism's contribution to climate change is increasing while other sectors are reducing their greenhouse gas emissions. This paper has two goals: reveal the main structural cause for tourism's emission growth and show the consequences thereof for (mitigation) policies. It is reasoned that the main cause for tourism's strong emission growth is the time-space expansion of global tourism behavior. Contemporary tourism theory and geography fail to clearly describe this geographical development, making it difficult to understand this expansion and develop effective policies to mitigate environmental impacts. Therefore, this paper explores some elements of a 'new tourism geography' and shows how this may help to better understand the causes of the environmentally unsustainable development of tourism with respect to climate change and devise mitigation policies.

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“…On the one hand, high oil-price induced inflation may be considered to have destructive effect to tourism demand in a country in the sense that tourism is a discretionary and oil-intensive activity, which can be vulnerable to oil price change. On the other hand, there may also be inflation pressure that is beneficial to tourism demand to a country due to the reason such high oil price also raises the income of the oil producing countries [13]. Moreover, an investigation in some European Mediterranean countries shows evidence of oil price shock with lag effects on tourism contribution to the economies in terms of income and growth [14].…”

Section: Innovation and Inflation Costsmentioning

confidence: 99%

Innovation, Tourism Demand and Inflation: Evidence from 14 European Countries

Yong¹

2014

JOEBM

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Abstract-The purpose of the paper is to investigate how inflation have altered the contribution of innovation to the tourism demand to the European countries during the last few decades. A hypothesis is proposed to prove that innovation of highly innovative countries in promoting their tourism industry. In addition, it is to assess how this relationship has been altered by the costs of inflation in the countries. Based on the recent Global Innovation Index (GII), 14 European countries are chosen as sample, while these countries have been incurring the inflation over the sample period, 1988-2010. A fixed-effect panel data framework is estimated with the Feasible Generalized Least Squares method with bias correction. The study utilizes innovation indicator to access the impact of costs on innovation to the tourism sector. To ensure robustness of estimation, the study focuses on the sensitivity of estimation with respects to the time lag by estimating the models with sufficient number of time lag, while also ensuring the sufficient degree of freedom for the estimation. The result supports the hypothesis that the countries have increasingly stronger position of innovation to the tourism industry and this benefit is not altered by the inflation pressure occurred in the countries.

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Implications of a long-term increase in oil prices for tourism

Cited by 81 publications

References 26 publications

Sentiment, mood and outbound tourism demand

Sentiment, mood and outbound tourism demand

The Emerging Global Tourism Geography—An Environmental Sustainability Perspective

Innovation, Tourism Demand and Inflation: Evidence from 14 European Countries

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