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on Tourism Economics |
| By: | Chia-Ling Chang; Thanchanok Khamkaew; Michael McAleer (University of Canterbury); Roengchai Tansuchat |
| Abstract: | International and domestic tourism are leading economic activities in the world today. Tourism has been known to generate goods and services directly and indirectly, attract foreign currency, stimulate employment, and provide opportunities for investment. It has also been recognized as an important means for achieving economic development. Substantial research has been conducted to evaluate the role of international tourism, and its associated volatility, within and across various economies. This paper applies several recently developed models of multivariate conditional volatility to investigate the interdependence of international tourism demand, as measured by international tourist arrivals, and its associated volatility in the four leading destinations in ASEAN, namely Indonesia, Malaysia, Singapore and Thailand. Each of these countries has attractive tourism characteristics, such as significant cultural and natural resources. Shocks to international tourism demand volatility could affect, positively or negatively, the volatility in tourism demand of neighbouring countries. The empirical results should encourage regional co-operation in tourism development among ASEAN member countries, and also mobilize international and regional organizations to provide appropriate policy actions. |
| Keywords: | Tourism demand; ASEAN; multivariate GARCH; volatility spillovers; interdependence; economic development; seasonality |
| JEL: | C22 C32 F50 O53 |
| Date: | 2010–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:cbt:econwp:10/27&r=tur |
| By: | Argandoña, Antonio (IESE Business School) |
| Abstract: | Tourism has been, and still is, a very profitable industry in Spain. But the Spanish model of tourism development, following a pattern set in the 1950s, is now in crisis. The crisis is apparent in the widespread overdevelopment of tourist resorts and residential facilities in coastal areas, generating high environmental, social and economic costs. In this paper, we describe the Spanish model of tourism, the results it has achieved, the reasons for its longevity and the obstacles facing any attempt to change it. Given the failure of individual, collective and political action to solve the problems ofoverdevelopment, we ask whether corporate social responsibility and its theoretical foundations and instruments offer a solution. |
| Keywords: | Spanish model of tourism; Corporate social responsibility; Overdevelopment; Tourism; Residential tourism; |
| Date: | 2010–01–07 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:iesewp:d-0844&r=tur |
| By: | Chang, C-L.; Khamkaew, T.; McAleer, M.J. |
| Abstract: | The significant impact of international tourism in stimulating economic growth is especially important from a policy perspective. For this reason, the relationship between international tourism and economic growth would seem to be an interesting and topical empirical issue. The purpose of this paper is to investigate whether tourism specialization is important for economic development in 159 countries over the period 1989-2008. The results from panel threshold regressions show a positive relationship between economic growth and tourism. Instrumental variable estimation of a threshold regression is used to quantify the contributions of tourism specialization to economic growth, while correcting for endogeneity between the regressors and error term. The significant impact of tourism specialization on economic growth in most regressions is robust to different specifications of tourism specialization, as well as to differences in real GDP measurement. However, the coefficients of the tourism specialization variables in the two regimes are significantly different, with a higher impact of tourism on economic growth found in the low regime. These findings do not change with changes in the threshold variables. The empirical results suggest that tourism growth does not always lead to substantial economic growth. |
| Keywords: | international tourism;economic development;tourism specialization;threshold regression;instrumental variables;panel data;cross-sectional data |
| Date: | 2010–04–29 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:eureir:1765019363&r=tur |
| By: | Hsiao-I Kuo; Chi-Chung Chen; Michael McAleer (University of Canterbury) |
| Abstract: | After a commercial whaling moratorium was enacted in 1986, whale watching became one of the fastest growing tourism industries worldwide. As whaling is regarded as an activity that is incompatible with whale watching, the possible resumption of commercial whaling has caused an urgent need to investigate the potential negative effects of whaling on the whale-watching industry. We examine the potential impacts of whaling on the global whale-watching tourism industry using an unbalanced panel data model. The empirical results indicate that the resumption of commercial whaling has the potential for a negative effect on the global whale-watching industry, especially for nations that are engaged in whaling. |
| Keywords: | Global whale watching; Commercial whaling; Delay-difference equation model; Unbalanced panel data model |
| JEL: | Q22 Q26 Q57 C33 |
| Date: | 2010–05–24 |
| URL: | http://d.repec.org/n?u=RePEc:cbt:econwp:10/30&r=tur |
| By: | Paulo Duarte (Departamento de Gestão e Economia, Universidade da Beira Interior); Ana Rita Pais (Universidade da Beira Interior) |
| Abstract: | Businesses and communities in rural areas face increased challenges to compete in the globalized tourism market. Rural areas and small communities often have rich endogenous natural resources, which may appeal to a stressed urban public, however, simply possessing these attributes is not sufficient, the must be communicated and promoted to the right people. The purpose of this study is to explore the use of Internet and online marketing tools to improve the competitiveness of small-scale rural tourism companies. The paper presents an overview of the perception, knowledge and use of Internet as a marketing toll by small-scaled rural tourism companies located in Portugal centre region and discusses the challenges and motivations involved in promoting rural tourism in a globalized market. A sample of small-scaled rural tourism companies was inquired about their attitudes toward the use of Internet marketing tools. The results show that Rural Tourism companies have limited knowledge of web marketing tools potential to support the rural tourism and highlight the need to increase the use of Internet as a marketing tool to globally communicate, promote and positioning rural tourism in order to leverage resources and create sustainability. |
| Keywords: | Rural tourism, SMEs, Internet, Marketing, e-Commerce |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:csh:wpecon:td05_2010&r=tur |
| By: | María Santana-Gallego (Universidad de La Laguna); Francisco J. Ledesma-Rodríguez (Universidad de La Laguna); Jorge V. Pérez-Rodríguez (Universidad de Las Palmas) |
| Abstract: | The main objective of this research is to revisit the estimation of the effect of a common currency on international trade by applying the new methodology proposed by Helpman, Melitz and Rubistein (2008) and incorporating tourism to the theoretical framework. Rose (2000) estimates an empirical model of bilateral trade, finding a significant coefficient for a currency union variable of 1.2, suggesting an effect of currency unions on trade of over a 200%. Rose (2000)’s finding did not receive full acceptance and further research was consequently devoted to find reasons of such high effect. This still remains as a major puzzle in the International Economics. Rose and Van Wincoop (2001) hold that there may still be some omitted factors that drives countries to both participate in currency unions and trade more. In this research a gravity equation for trade is estimated controlling by international tourism. |
| Keywords: | Common currency, tourism, gravity equation |
| JEL: | F3 |
| Date: | 2010–05 |
| URL: | http://d.repec.org/n?u=RePEc:aee:wpaper:1002&r=tur |