Modelling The Volatility In International Tourism Demand And Country Risk Returns For Small Island Tourism Economies
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The Economics of Small Island Tourism
| Author | : Riaz Shareef |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 349 |
| Release | : 2008-01-01 |
| Genre | : Business & Economics |
| ISBN | : 0857937138 |
This study forms an entirely new area of research on Small Island Tourism Economies (SITEs). It addresses the importance of uncertainty in monthly international tourist arrivals and country risk indicators to the macroeconomy. Conditional volatilities are estimated for international tourist arrivals, and an economic interpretation from the estimated results is provided. In achieving these two objectives, this work presents an extensive assessment of the important characteristics and the impact of tourism in SITEs in relation to their gross domestic product, balance of payments, employment and foreign direct investment, among other factors. This book is unique in giving emphasis to macroeconomic implications rather than an industry focus. The Economics of Small Island Tourism will appeal to academics at the undergraduate and postgraduate levels involved in environmental and tourism management as well as tourism economics.
Determinants of International Tourism
| Author | : Mr.Alexander Culiuc |
| Publisher | : International Monetary Fund |
| Total Pages | : 46 |
| Release | : 2014-05-12 |
| Genre | : Business & Economics |
| ISBN | : 1484383036 |
The paper estimates the impact of macroeconomic supply- and demand-side determinants of tourism, one of the largest components of services exports globally, and the backbone of many smaller economies. It applies the gravity model to a large dataset comprising the full universe of bilateral tourism flows spanning over a decade. The results show that the gravity model explains tourism flows better than goods trade for equivalent specifications. The elasticity of tourism with respect to GDP of the origin (importing) country is lower than for goods trade. Tourism flows respond strongly to changes in the destination country’s real exchange rate, along both extensive (tourist arrivals) and intensive (duration of stay) margins. OECD countries generally exhibit higher elasticties with respect to economic variables (GDPs of the two economies, real exchange rate, bilateral trade) due to the larger share of business travel. Tourism to small islands is less sensitive to changes in the country’s real exchange rate, but more susceptible to the introduction/removal of direct flights.
Small Island and Small Destination Tourism
| Author | : Robertico Croes |
| Publisher | : CRC Press |
| Total Pages | : 259 |
| Release | : 2022-06-30 |
| Genre | : Business & Economics |
| ISBN | : 1000565513 |
This unique and thoughtful book considers the tourism specialization, economic growth, and tourism competitiveness of a very specific type of tourism: small islands practicing warm water island tourism. This new book thoroughly examines the phenomenon of why some small island destinations have been more successful than others. The main premise applied is that success and survival of small island tourism hinges on resolving the mystery regarding the relationship between competitiveness and quality of life. In addressing this question, the book reviews four relevant and interconnected concepts: tourism, competitiveness, quality of life, and scale (or size). In doing so, the book enhances understanding of the potential of tourism for the improvement of the quality of life of the residents of small islands. In the last chapter of the book, the author assesses the impact of COVID-19 on tourism and specifically its ramifications for small island destinations. Whether small island populations can rise from beneath the COVID -19 burden that threatens their economic future is yet to be seen. Small Island and Small Destination Tourism: Overcoming the Smallness Barrier for Economic Growth and Tourism Competitiveness is written from a sustainable perspective that combines tourism dynamics, development, competitiveness, quality of life, and business. As such, it is aimed at a broad but higher-level audience including graduate students, academicians and researchers, practitioners, policymakers, and international organizations.
Anatomy of Demand in International Tourism
| Author | : Robertico Croes |
| Publisher | : LAP Lambert Academic Publishing |
| Total Pages | : 216 |
| Release | : 2010-06 |
| Genre | : Demand (Economic theory) |
| ISBN | : 9783838349459 |
This is a study pertaining to the determinants of demand for small island destinations that attract international tourism. The study specifies a dynamic econometric model that reflects causal links between variables that activate short and long-term responses. The study developed a set of linear and double-log linear econometric models to identify and to quantify Aruba s international tourism demand from the United States, the Netherlands, and Venezuela. The inclusion of Venezuela as a developing country permitted the comparison between the behavior of tourism demand in relatively rich and poor countries. Understanding the demand dynamics of tourism can be an extremely valuable policymaking tool in countries with limited resources. The results of the study indicate the extent to which cross country behavior for tourism demand differs with respect to changes in effective prices and exchange rates. Such an enhanced understanding of the dynamics of demand should aid both policymakers and private sector managers in making more effective decisions regarding the supply and consumption of tourism services in small island destinations.
Assessing the Economic Impact of Tourism
| Author | : Samuel Meng |
| Publisher | : Springer |
| Total Pages | : 367 |
| Release | : 2016-12-08 |
| Genre | : Business & Economics |
| ISBN | : 3319403281 |
This book employs a computable general equilibrium (CGE) model – a widely used economic model which uses actual data to provide economic analysis and policy assessment – and applies it to economic data on Singapore’s tourism industry. The authors set out to demonstrate how a novice modeller can acquire the necessary skills and knowledge to successfully apply general equilibrium models to tourism studies. The chapters explain how to build a computable general equilibrium model for tourism, how to conduct simulation and, most importantly, how to analyse modelling results. This applied study acts as a modelling book at both introductory and intermediate levels, specifically targeting students and researchers who are interested in and wish to learn computable general equilibrium modelling. The authors offer insightful analysis of Singapore’s tourism industry and provide both students and researchers with a guide on how to apply general equilibrium models to actual economic data and draw accurate conclusions.
Classical Economic Man
| Author | : Allen Oakley |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 280 |
| Release | : 1994-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9781782541936 |
"In Classical economic man, Allen Oakley argues that two of the fathers of modern economics espoused methodological strategies which rejected the concept of 'economic man' and gave primacy to the human origins of economic phenomenon."--book jacket.
Tourism in the Post-Pandemic World
| Author | : Ms.Manuela Goretti |
| Publisher | : International Monetary Fund |
| Total Pages | : 115 |
| Release | : 2021-02-19 |
| Genre | : Business & Economics |
| ISBN | : 1513561901 |
This departmental paper analyzes the impact of the COVID-19 pandemic on tourism in the Asia Pacific region, Latin America, and Caribbean countries. Many tourism dependent economies in these regions, including small states in the Pacific and the Caribbean, entered the pandemic with limited fiscal space, inadequate external buffers, and foreign exchange revenues extremely concentrated in tourism. The empirical analysis leverages on an augmented gravity model to draw lessons from past epidemics and finds that the impact of infectious diseases on tourism flows is much greater in developing countries than in advanced economies.
Small Island and Small Destination Tourism
| Author | : Robertico Croes |
| Publisher | : CRC Press |
| Total Pages | : 278 |
| Release | : 2022-06-30 |
| Genre | : Business & Economics |
| ISBN | : 1000565041 |
This unique and thoughtful book considers the tourism specialization, economic growth, and tourism competitiveness of a very specific type of tourism: small islands practicing warm water island tourism. This new book thoroughly examines the phenomenon of why some small island destinations have been more successful than others. The main premise applied is that success and survival of small island tourism hinges on resolving the mystery regarding the relationship between competitiveness and quality of life. In addressing this question, the book reviews four relevant and interconnected concepts: tourism, competitiveness, quality of life, and scale (or size). In doing so, the book enhances understanding of the potential of tourism for the improvement of the quality of life of the residents of small islands. In the last chapter of the book, the author assesses the impact of COVID-19 on tourism and specifically its ramifications for small island destinations. Whether small island populations can rise from beneath the COVID -19 burden that threatens their economic future is yet to be seen. Small Island and Small Destination Tourism: Overcoming the Smallness Barrier for Economic Growth and Tourism Competitiveness is written from a sustainable perspective that combines tourism dynamics, development, competitiveness, quality of life, and business. As such, it is aimed at a broad but higher-level audience including graduate students, academicians and researchers, practitioners, policymakers, and international organizations.
