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Determinants of the demand for Thailand's exports of tourism

Author

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  • Michael Vogt
  • Chutima Wittayakorn

Abstract

We investigate the effects of world income and the relative price of tourism in Thailand on Thailand's exports of tourism. In contrast to previous studies, we test for stationarity and cointegration of the variables of the model. We find that the variables are not stationary in level form, but they are cointegrated. Our estimate of the relative price elasticity of demand for Thailand's exports of tourism is - 1.199 in the short run and - 0.891 in the long run. The corresponding estimates for the income elasticity of demand are 1.926 and 2.342 respectively. However, only the short-run price elasticity of demand is significantly different from zero.

Suggested Citation

  • Michael Vogt & Chutima Wittayakorn, 1998. "Determinants of the demand for Thailand's exports of tourism," Applied Economics, Taylor & Francis Journals, vol. 30(6), pages 711-715.
    • Handle: RePEc:taf:applec:v:30:y:1998:i:6:p:711-715
    DOI: 10.1080/000368498325417
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    Cited by:

    1. Constantinos Katrakilidis & George Konteos & Nikolaos Sariannidis & Chrysi Manolidou, 2017. "Investigation of Convergence in the Tourist Markets of Greece," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 707-729.
    2. Luis Armando Galvis & Maria Modesta Aguilera, 1999. "Determinantes de la demanda por turismo hacia Cartagena, 1987-1998," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 51, pages 47-87, Julio Dic.
    3. Sung Yong Park & Sang Young Jei, 2010. "Determinants of volatility on international tourism demand for South Korea: an empirical note," Applied Economics Letters, Taylor & Francis Journals, vol. 17(3), pages 217-223, February.
    4. Ramesh Durbarry, 2008. "Tourism Taxes: Implications for Tourism Demand in the UK," Review of Development Economics, Wiley Blackwell, vol. 12(1), pages 21-36, February.
    5. Chien-Ming Wang & Su-Lan Pan & Alastair M. Morrison & Tsung-Pao Wu, 2022. "The dynamic linkages among outbound tourism, economic growth, and international trade: empirical evidence from China," SN Business & Economics, Springer, vol. 2(11), pages 1-18, November.
    6. Kazutaka Kurasawa, 2016. "Chinese Economic Growth and Visitors to Japan: A Bivariate Cointegration Analysis," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 4(4), pages 168-179, December.
    7. Luis Alberiko Gil-Alaña, 2010. "Tourism in South Africa. Time series persistence and the nature of shocks. Are they transitory or permament?," NCID Working Papers 06/2011, Navarra Center for International Development, University of Navarra.
    8. Musallam Abedtalas, 2015. "The Determinants of Tourism Demand in Turkey," Journal of Economics and Behavioral Studies, AMH International, vol. 7(4), pages 90-105.
    9. Apergis Nicholas, 2021. "Forecasting US overseas travelling with univariate and multivariate models," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 40(6), pages 963-976, September.
    10. Juncal Cuñado & Alberiko Gil-Alana, Luis & Perez De Gracia, Fernando, 2011. "Modelling International Monthly Tourist in Spain/Modelización de llegadas mensuales de turistas a España," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 29, pages 723-736, Diciembre.
    11. repec:wyi:journl:002100 is not listed on IDEAS
    12. Allison Zhou & Carl Bonham & Byron Gangnes, 2007. "Modeling the supply and demand for tourism: a fully identified VECM approach," Working Papers 200717, University of Hawaii at Manoa, Department of Economics.
    13. Boyang Xu & Daxin Dong, 2020. "Evaluating the Impact of Air Pollution on China’s Inbound Tourism: A Gravity Model Approach," Sustainability, MDPI, vol. 12(4), pages 1-21, February.
    14. repec:wyi:journl:002105 is not listed on IDEAS
    15. Pulina, M. & O'Brien, R.J., 2002. "Monthly, annual and quarterly frequencies: a comparison of models for tourism in Sardinia and bounded rationality," Discussion Paper Series In Economics And Econometrics 206, Economics Division, School of Social Sciences, University of Southampton.
    16. 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.
    17. Jean Max Tavares & Nuno Carlos Leitão, 2017. "The determinants of international tourism demand for Brazil," Tourism Economics, , vol. 23(4), pages 834-845, June.
    18. repec:wyi:journl:002126 is not listed on IDEAS
    19. Nicholas Apergis & Andrea Mervar & James E. Payne, 2017. "Forecasting disaggregated tourist arrivals in Croatia," Tourism Economics, , vol. 23(1), pages 78-98, February.
    20. Bonham, Carl & Gangnes, Byron & Zhou, Ting, 2009. "Modeling tourism: A fully identified VECM approach," International Journal of Forecasting, Elsevier, vol. 25(3), pages 531-549, July.
    21. Ferda Halicioglu, 2005. "An Ardl Model Of Aggregate Tourism Demand For Turkey," International Trade 0503005, University Library of Munich, Germany.

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