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A Study of Outbound Tourism From Australia

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  • Neelu Seeteram
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    Abstract

    This paper exploits the dynamic panel data cointegration technique to determine the demand elasticity of short term international departures from Australia with respect to changes in income, real exchange rate, migration and the cost of domestic air travel. The data utilised are from 1991 to 2008 for 47 destinations. The results confirm those of previous studies in showing that income is the single most important determinants of departure from Australia in the short run and in the long run. 61 percent of Australian travellers tend to repeat their visit. Increasing migrations from particular countries has a positive effect on departure to these nations. Real exchange rate is insignificant in explaining departures from Australia. International crisis occurring in year 2002 and 2003 affected departures from Australia in a negative way.

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    File URL: http://www.buseco.monash.edu.au/eco/research/papers/2010/4710studyseetaram.pdf
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    Bibliographic Info

    Paper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number 47-10.

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    Length: 31 pages
    Date of creation: May 2010
    Date of revision:
    Handle: RePEc:mos:moswps:2010-47

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    Postal: Department of Economics, Monash University, Victoria 3800, Australia
    Phone: +61-3-9905-2493
    Fax: +61-3-9905-5476
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    Web page: http://www.buseco.monash.edu.au/eco/
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    Related research

    Keywords: Outbound Tourism; Australia; Dynamic Panel Data; Panel Cointegration; Corrected Least Square Dummy Variable.;

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    1. Peter Phillips & Hyungsik Moon, 2000. "Nonstationary panel data analysis: an overview of some recent developments," Econometric Reviews, Taylor & Francis Journals, vol. 19(3), pages 263-286.
    2. Judson, Ruth A. & Owen, Ann L., 1999. "Estimating dynamic panel data models: a guide for macroeconomists," Economics Letters, Elsevier, vol. 65(1), pages 9-15, October.
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