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Co-Movement in Tourist Arrivals in the Caribbean

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  • Troy Lorde
  • Winston Moore

Abstract

Since the 1960s, the Caribbean has made numerous attempts at regional integration. One of the reasons for the failure of these attempts is the difference in business cycles across the region. Given the importance of tourism to the region, if arrivals to the Caribbean are converging over time, the differences in the business cycle characteristics of each country should decline. Using a panel of 22 countries and monthly data from 1977 to 2004, this study investigates the co-movement in tourism penetration and the growth in tourist arrivals for the region. The empirical results presented in the paper suggest that there is no convergence in tourism penetration across the group but that there are similarities in the rates of growth of tourist arrivals.

Suggested Citation

  • Troy Lorde & Winston Moore, 2008. "Co-Movement in Tourist Arrivals in the Caribbean," Tourism Economics, , vol. 14(3), pages 631-643, September.
    • Handle: RePEc:sae:toueco:v:14:y:2008:i:3:p:631-643
    DOI: 10.5367/000000008785633523
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    2. Valadkhani, Abbas & O’Mahony, Barry, 2015. "Dynamics of Australia’s tourism in a multimarket context," Annals of Tourism Research, Elsevier, vol. 55(C), pages 173-177.
    3. Lorde, Troy & Jacob, Jadon & Weekes, Quinn, 2018. "Price-Setting Behavior in a Tourism Sharing Economy Accommodation Market: A Hedonic Price Analysis of AirBnB Hosts in the Caribbean," MPRA Paper 95475, University Library of Munich, Germany.
    4. Berhan ÇOBAN & Esin FİRUZAN, 2019. "Convergence and Cointegration Analysis under Structural Breaks: Application of Turkey Tourism Markets," Sosyoekonomi Journal, Sosyoekonomi Society, issue 27(39).
    5. Svetlana Gurieva & Irina Kuznetsova & Ekaterina Yumkina & Sergey Manichev & Elena Sidorenko, 2017. "Emotional Intelligence and Behavior Styles of Russian Middle Managers in Business Communication," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 679-693.
    6. Burcu Ozcan, 2014. "Do Tourism Markets Of Turkey Converge?," Proceedings of International Academic Conferences 0200630, International Institute of Social and Economic Sciences.
    7. Abbott, Andrew & De Vita, Glauco & Altinay, Levent, 2012. "Revisiting the convergence hypothesis for tourism markets: Evidence from Turkey using the pairwise approach," Tourism Management, Elsevier, vol. 33(3), pages 537-544.
    8. Fatih Kaplan & Erdo?an ?zt¨¹rk & ?ule G¨¹ng?r, 2017. "Is the Club Convergence Hypothesis Validy for Turkey Tourism Market," Research in Applied Economics, Macrothink Institute, vol. 9(3), pages 24-30, September.
    9. Stavros A Kourtzidis & Panayiotis Tzeremes & Nickolaos G Tzeremes & Tomáš Heryán, 2018. "Integration of tourism markets in Australia," Tourism Economics, , vol. 24(7), pages 901-907, November.
    10. Sakiru Adebola Solarin, 2014. "Revisiting the Convergence Hypothesis of Tourism Markets: Evidence from South Africa," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 8(1), pages 77-92, February.
    11. Lin, Zhibin & You, Kefei & Lau, Chi Keung & Demir, Ender, 2019. "Segmenting global tourism markets: A panel club convergence approach," Annals of Tourism Research, Elsevier, vol. 75(C), pages 165-185.
    12. Mérida, Adrián L. & Carmona, Mónica & Congregado, Emilio & Golpe, Antonio A., 2016. "Exploring the regional distribution of tourism and the extent to which there is convergence," Tourism Management, Elsevier, vol. 57(C), pages 225-233.
    13. Fatih Kaplan & Erdoğan Öztürk & Şule Güngör, 2017. "Is The Club Convergence Hypothesis Valid For Turkey Tourism Market?," European Journal of Business and Economics, Central Bohemia University, vol. 12(2), pages 11181:12-11, January.

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    More about this item

    Keywords

    convergence; stability; tourist arrivals; Caribbean;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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