The Economics of Tourism

Stabler, M. J.; Παπαθεοδώρου, Ανδρέας; Sinclair, M. Thea

doi:10.4324/9780203864272

Cited by 107 publications

(145 citation statements)

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“…More specifically, as Stabler et al [2010] have highlighted, the tourism "product" consists of distinct goods and services, bought at the same time or in sequence but, in any case, with the demand for one definitely affecting the demand for the other. The problem becomes more complex as these goods and services are affected by a variety of different factors, thus rendering the aggregation process of determining factors a very demanding task.…”

Section: Links To the Existing Literaturementioning

confidence: 99%

Determinants of tourism demand in Greece: A panel data approach

Agiomirgianakis

Sfakianakis

2014

Ekonometria

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Section: Links To the Existing Literaturementioning

confidence: 99%

Determinants of tourism demand in Greece: A panel data approach

Agiomirgianakis

Sfakianakis

2014

Ekonometria

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“…Namely, numerous researchers have been involved and a wide variety oftechniques have been applied in quantifying tourism economic eff ects. Studies vary extensively in quality and accuracy, but mostly address the economic impact analysis (Crompton, 1993;Lundberg et al, 1995;Huybers, 2007;Babu et al, 2008;Ramos and Jimѐnez, 2008;Stabler et al, 2010). In this respect, theeconomic impact analysis traces the fl ows of spending associated with tourism activity in a region in order toidentify changes in sales, tax revenues, income, and jobs due to tourism activity.…”

Section: Literature Reviewmentioning

confidence: 99%

Tourism Contribution to Economic Development in Macedonia

Petrevska

2013

EMC Review

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“…Pertaining to the standard dynamic tourism demand model (Crouch, 1995;Song and Witt, 2000;Stabler et al, 2010;Song, Wong and Chon, 2003;Song et al, 2009), the vector of domestic variables x i,t in the present study consists of domestic real tourism exports and domestic relative tourism export prices, hence k i ¼ 2. The vector of foreign variables x n i;t , in turn, comprises foreign real tourism exports, foreign relative tourism export prices (representing real tourism exports and relative tourism export prices of competing destinations), as well as global real GDP (representing global tourist income) as the only global variable, hence k n i ¼ 3.…”

Section: The Gvar Framework In Briefmentioning

confidence: 99%

“…These variables are therefore part of virtually any standard (empirical) tourism demand model (see e.g. Crouch, 1995;Song and Witt, 2000;Stabler et al, 2010). In addition, habit persistence and tourist expectations via the lagged dependent variable as a regressor were also shown to play an important role (Song, Wong and Chon, 2003), thus calling for a dynamic specification.…”

Section: Introductionmentioning

confidence: 99%

Conditional forecasts of tourism exports and tourism export prices of the EU-15 within a global vector autoregression framework

Gunter

2017

JTF

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If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. Conditional forecasts of tourism exports and tourism export prices of the EU-15 within a global vector autoregression framework Ulrich GunterAbstract Purpose -The purpose of this paper is to analyze the ex ante projected future trajectories of real tourism exports and relative tourism export prices of the EU-15, conditional on expert real gross domestic product growth forecasts for the global economy provided by the Organisation for Economic Co-operation and Development for the years 2013-2017. Design/methodology/approach -To this end, the global vector autoregression (GVAR) framework is applied to a comprehensive panel data set ranging from 1994Q1 to 2013Q3 for a cross-section of 45 countries. This approach allows for interdependencies between countries that are assumed to be equally affected by common global developments. Findings -In line with economic theory, growing global tourist income combined with decreasing relative destination price ensures, in general, increasing tourism demand for the politically and macroeconomically distressed EU-15. However, the conditional forecast increases in tourism demand are under-proportional for some EU-15 member countries. Practical implications -Rather than simply relying on increases in tourist income, the low price competitiveness of the EU-15 member countries should also be addressed by tourism planners and developers in order to counter the rising competition for global market shares and ensure future tourism export earnings. Originality/value -One major contribution of this research is that it applies the novel GVAR framework to a research question in tourism demand analysis and forecasting. Furthermore, the analysis of the ex ante conditionally projected future trajectories of real tourism exports and relative tourism export prices of the EU-15 is a novel aspect in the tourism literature since conditional forecasting has rarely been performed in this discipline to date, in particular, in combination with ex ante forecasting.

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The Economics of Tourism

Cited by 107 publications

References 0 publications

Determinants of tourism demand in Greece: A panel data approach

Determinants of tourism demand in Greece: A panel data approach

Tourism Contribution to Economic Development in Macedonia

Conditional forecasts of tourism exports and tourism export prices of the EU-15 within a global vector autoregression framework

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