The Economics of Tourism

Momsen, Janet Henshall; Sinclair, M. Thea; Stabler, M. J.

doi:10.2307/144258

Cited by 5 publications

(5 citation statements)

References 206 publications

(311 reference statements)

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“…Many economic forecasts show that the GDP of many countries will retard, perhaps very significantly in the near future [8,20,35]. Smeral [36] confirmed that consumer behavior and tourism demand are symmetrical; a fall in the incomes of consumers will result in similar or deeper falls in the consumption of tourist services, identified as higher-order services and characterized by a relatively higher income elasticity of demand [37]. Moreover, the recovery of tourism markets lasts usually longer compared to the period of demand decrease [36,38].…”

Section: General Effects Of the Covid-19 Pandemic On Tourism And Travelmentioning

confidence: 94%

Impact of Geographic Distribution of COVID-19 Cases on Hotels’ Performances: Case of Polish Cities

Napierała

Leśniewska-Napierała

Burski³

2020

Sustainability

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The main goal of the article is to describe the short-term impacts of reported new cases and deaths of the COVID-19 disease on hotels’ performances in the nine major Polish urban hotel markets: Kraków, Warszawa, Poznań, Wrocław, Gdańsk, Lublin, Łódź, Katowice, and Sopot. Time range of the analysis covers the period from January 5, 2020 (the beginning of the very first week when the COVID-19 cases were evidenced) to March 14, 2020 (the initial phase of lockdown was introduced by the Polish government). Various geographical contexts of the COVID-19 impacts are considered: national, European, and global. Generalized method of moments was applied to investigate the influence of reported COVID-19 cases (deaths) on both occupancy and revenue per available room. The results show that the most significant, negative impact of the pandemic on hotel performances is confirmed at the European level of the COVID-19 outbreak. Moreover, the negative influence of national cases of COVID-19 is more significant in less internationalized (or less-populated) urban destinations. Thus, the hotel industry (especially in the most internationalized, biggest Polish cities) might be recovered only when issues of the COVID-19 epidemic will be solved at the European level.

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Section: General Effects Of the Covid-19 Pandemic On Tourism And Travelmentioning

confidence: 94%

Impact of Geographic Distribution of COVID-19 Cases on Hotels’ Performances: Case of Polish Cities

Napierała

Leśniewska-Napierała

Burski³

2020

Sustainability

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“…The study is part of the extensive literature on the evaluation of the effects of interventions on coastal areas at different sites [32,[44][45][46][47][58][59][60][61][62][63][64].…”

Section: Resultsmentioning

confidence: 99%

“…In the presence of external diseconomies and incomplete markets, as in this case, the use of dynamic prices forecast could introduce undesirable degrees of uncertainty in the evaluation of the investment profitability. For this reason, the cost-benefit analysis has been conducted at constant prices [59], and is accompanied by a sensitivity analysis on ten variables, one of which concerns possible beach-use price changes.…”

Section: Resultsmentioning

confidence: 99%

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The Reuse of Sediments Dredged from Artificial Reservoirs for Beach Nourishment: Technical and Economic Feasibility

et al. 2020

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Sedimentation has significant impacts on the useful capacity of an artificial reservoir, a resource to preserve. Interventions of dredging are therefore often unavoidable, even because decommissioning of dams is often impossible in many contexts and entails high costs. Dredging generates an undesired accumulation of materials that represent an environmental cost, but that could be used as intermediate products in other processes, such as beach nourishment. The study develops a method for the evaluation of the feasibility of an investment aimed at coastal nourishment with sediments dredged from artificial reservoirs. The method considers the set of technical conditions that make such use possible. The presence of economies of scope, with environmental diseconomies utilized as joint product, modifies the evaluation approach. The results of the approach show a possible environmental and economic sustainability of the proposed investment even in the presence of highly unfavorable scenarios. The study applies the feasibility appraisal to the case of the Guardialfiera reservoir in Molise, Italy.

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“…Since consumer behavior and the demand for tourism services are symmetrical, a reduction of employment positions and individual income will have a downturn impact on the consumption of tourism services. This fact can make the recovery of tourism firms even more difficult, which in the COVID-19 case can last longer than previous times (Smeral, 2009; Momsen et al , 2010). According to OECD (2020), a change in the rankings of cities international visitor arrivals is expected until 2025, documenting a negative trend for some of the most prestigious tourism destinations in Europe (Rome, Barcelona, Paris and Athens).…”

Section: Theoretical Background and The Greek Tourism Sectormentioning

confidence: 99%

The net effect of the travel restriction policy on tourism demand: evidence from Greece

Dimitropoulos

Ntasis

Koronios

2021

JEPP

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PurposeThe purpose of this study is to provide up-to-date evidence on the net effect of COVID-19 pandemic on international arrivals and occupancy rates in Greece. Analysis and forecasting point out the demand for 2020, and thus yielding more concrete evidence on the pure effect of the pandemic on the tourism industry.Design/methodology/approachMonthly observations from January 2000 to December 2020 were extracted from the Tourist Enterprises Association (SETE) for Athens, Thessaloniki, Kalamata, Rhodes, Mytilene, Santorini, Zante, Kefalonia and Crete. To model and forecast the volatility and the time trend effect of tourist arrivals individually, the study applies the autoregressive integrated moving average (ARIMA) (p,d,q) and the error, trend, seasonality (ETS) model.FindingsEmpirical results suggested that Athens, Thessaloniki and Crete were three destinations with the worst losses in international tourist arrivals. Specifically, Athens was expecting to have (without the existence of COVID-19) more than 330,000 tourist arrivals in December 2020 while instead only 73,000 international tourists visited Athens that period. Similarly, Thessaloniki and the island of Crete lost more than 150,000 international visitors during December 2020.Originality/valueThe author’s study adds to a growing number of studies regarding the impact of COVID-19 by incorporating monthly international arrival data and occupancy rate data for the whole 2020 reflecting differences in transportation or vacation choices. Also, the authors operationalized multiple time-series forecasting models (ETS and ARIMA) for reaching more concrete forecasts and estimates on the effect of COVID-19 on the Greek tourism sector.

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The Economics of Tourism

Cited by 5 publications

References 206 publications

Impact of Geographic Distribution of COVID-19 Cases on Hotels’ Performances: Case of Polish Cities

Impact of Geographic Distribution of COVID-19 Cases on Hotels’ Performances: Case of Polish Cities

The Reuse of Sediments Dredged from Artificial Reservoirs for Beach Nourishment: Technical and Economic Feasibility

The net effect of the travel restriction policy on tourism demand: evidence from Greece

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