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The demand for international tourism in the Mediterranean region

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  • Andreas Papatheodorou
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    Abstract

    The paper studies the demand for international tourism, in the Mediterranean region. First a review of the most important attempts to model econometrically the demand for international tourism in the past is given, followed by a formal presentation of the proposed theoretical model. In particular, a version of the Almost Ideal Demand System (AIDS) is adopted and a description of the variables involved and their sources, together with the estimation procedure, are provided. The diagrammatic analysis performed contributes to a better understanding of the evolution of the dependent variable over time. The results with respect to the expenditure as well as to the own- and cross-price elasticities may be regarded as econometrically satisfactory and a reasonable economic explanation is given.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Economics.

    Volume (Year): 31 (1999)
    Issue (Month): 5 ()
    Pages: 619-630

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    Handle: RePEc:taf:applec:v:31:y:1999:i:5:p:619-630

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    Cited by:
    1. Pentelow, Laurel & Scott, Daniel J., 2011. "Aviation’s inclusion in international climate policy regimes: Implications for the Caribbean tourism industry," Journal of Air Transport Management, Elsevier, vol. 17(3), pages 199-205.
    2. Chryssanthi Balomenou & Panagyiotis Arsenos & Dimitris Lagos, 2005. "Tourist Enterprises Financing In Greece," ERSA conference papers ersa05p104, European Regional Science Association.
    3. Njegovan, Nenad, 2006. "Elasticities of demand for leisure air travel: A system modelling approach," Journal of Air Transport Management, Elsevier, vol. 12(1), pages 33-39.
    4. Chia-Lin Chang & Thanchanok Khamkaew & Michael McAleer, 2010. "Estimating Price Effects in an Almost Ideal Demand Model of Outbound Thai Tourism to East Asia," CIRJE F-Series CIRJE-F-735, CIRJE, Faculty of Economics, University of Tokyo.
    5. Manabu Asai & Massimiliano Caporin & Michael McAleer, 2012. "Forecasting Value-at-Risk Using Block Structure Multivariate Stochastic Volatility Models," Working Papers in Economics 12/04, University of Canterbury, Department of Economics and Finance.
    6. Dritsakis, Nikolaos, 2007. "Seasonal Analysis of Tourist Revenues: An Empirical Research for Greece," MPRA Paper 25363, University Library of Munich, Germany, revised 25 Feb 2008.
    7. Che, Chou Ming, 2013. "Panel threshold analysis of Taiwan's outbound visitors," Economic Modelling, Elsevier, vol. 33(C), pages 787-793.
    8. Lokman Gunduz & Abdulnasser Hatemi-J, 2005. "Is the tourism-led growth hypothesis valid for Turkey?," Applied Economics Letters, Taylor & Francis Journals, vol. 12(8), pages 499-504.
    9. Aslan, Alper & Kaplan, Muhittin & Kula, Ferit, 2008. "International Tourism Demand for Turkey: A Dynamic Panel Data Approach," MPRA Paper 10601, University Library of Munich, Germany.
    10. Margarida de Mello & Kevin S. Nell, 2001. "The Forecasting Ability of a Cointegrated VAR Demand System with Endogeneous vs. Exogenous Expenditure Variable: An application to the UK imports of tourism from neighbouring countries," FEP Working Papers 109, Universidade do Porto, Faculdade de Economia do Porto.
    11. Juan Luis Eugenio-Martín & Noelia Martín Morales & Riccardo Scarpa, 2004. "Tourism and Economic Growth in Latin American Countries: A Panel Data Approach," Working Papers 2004.26, Fondazione Eni Enrico Mattei.
    12. Leon, Costas & Eeckels, Bruno, 2009. "A Dynamic Correlation Approach of the Swiss Tourism Income," MPRA Paper 15215, University Library of Munich, Germany.
    13. Li, Gang & Song, Haiyan & Witt, Stephen F., 2006. "Time varying parameter and fixed parameter linear AIDS: An application to tourism demand forecasting," International Journal of Forecasting, Elsevier, vol. 22(1), pages 57-71.
    14. William Maloney & Gabriel V. Montes Rojas, 2005. "How elastic are sea, sand and sun? Dynamic panel estimates of the demand for tourism," Applied Economics Letters, Taylor & Francis Journals, vol. 12(5), pages 277-280.
    15. Borowiecki, Karol Jan & Castiglione, Concetta, 2012. "Cultural participation and tourism flows: An empirical investigation of Italian provinces," Discussion Papers of Business and Economics 21/2012, Department of Business and Economics, University of Southern Denmark.

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