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An Analysis of Foreign Tourism Demand for Croatian Destinations: Long-Run Elasticity Estimates

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  • Andrea Mervar
  • James E. Payne

    ()
    (The Institute of Economics, Zagreb)

Abstract

Given that tourism is a significant source of export revenues for Croatia, it is vital for policymakers to understand the factors affecting foreign tourism demand for Croatian destinations. This study provides long-run elasticity estimates associated with the aggregate foreign tourism demand for Croatian destinations in the period 1994:1-2004:4 using the autoregressive distributed lag (ARDL) approach. Foreign tourism demand is proxied by the aggregate number of foreign overnight stays in Croatia. The long-run elasticity estimates indicate that tourism demand is positive and highly elastic with respect to the income of tourist-generating countries. Moreover, tourism demand is adversely affected by the political conflicts in the 1990s. The real exchange rate and transportation costs are not statistically significant determinants of foreign tourism demand.

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Bibliographic Info

Paper provided by The Institute of Economics, Zagreb in its series Working Papers with number 0701.

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Length: 21 pages
Date of creation: Feb 2007
Date of revision:
Publication status: Published - Mervar, Andrea i James E. Payne, 2007, «Analysis of Foreign Tourism Demand for Croatian Destinations: Long-Run Elasticity Estimates», Tourism Economics, 13(3), September, pp. 407-420.
Handle: RePEc:iez:wpaper:0701

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Keywords: tourism demand; cointegration; ARDL; Croatia;

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Cited by:
  1. Nuno, Carlos Leitão & Muhammad, Shahbaz, 2011. "Migration and Tourist Flows," MPRA Paper 34905, University Library of Munich, Germany, revised 12 Nov 2011.
  2. Bouzahzah, Mohamed & El Menyari, Younesse, 2012. "Les déterminants de la demande touristique: le cas du Maroc
    [Determinants of tourism demand: the case of Morocco]
    ," MPRA Paper 39029, University Library of Munich, Germany, revised 25 May 2012.
  3. Halicioglu, Ferda, 2008. "An Econometric Analysis of Aggregate Outbound Tourism Demand of Turkey," MPRA Paper 6765, University Library of Munich, Germany, revised 2008.
  4. Benković, Andreja & Mejía, Juan Felipe, 2008. "Tourism as a driver of economic development: The Colombian experience," Violette Reihe Arbeitspapiere 26/2008, Promotionsschwerpunkt "Globalisierung und Beschaeftigung".
  5. Nuno Carlos LEITÃO & Muhammad SHAHBAZ, 2012. "Migration and Tourism Demand," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(2(567)), pages 39-48, February.

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