Air Passengers and Tourism Flows: Evidence from Sicily and Sardinia
AbstractTourism plays an important role in the economies of many Mediterranean countries, since it is a crucial driver of economic growth, job creation, and income. For this reason many countries set up a wide variety of programs and policies to support the development of this economic sector. It is therefore very important, for scholars and policy makers, explaining and forecasting tourism demand. Using air passengers flows as proxy variables for tourist arrivals, we set up some VAR model specifications in order to investigate the monthly time series 2003-2008 of arrivals to the most important Italian islands, Sardinia and Sicily. Our results show a significant inter-temporal relationship among tourism flows. Furthermore, our findings reveal that both meteorological variables (atmospheric temperatures and raining days) and exchange rates (Dollar-to-Euro and Yen-to-Euro) can improve the explanatory and forecasting power of VAR models.
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Bibliographic InfoPaper provided by The Rimini Centre for Economic Analysis in its series Working Paper Series with number 37_09.
Date of creation: Jan 2009
Date of revision: Feb 2010
Airports; Air transportation; VAR model;
Find related papers by JEL classification:
- L93 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Air Transportation
- R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
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- Andrea Alivernini & Enrico Beretta & Luigi Cannari & Massimo Gallo, 2013. "The trends of Italy's international tourism," Workshop and Conferences 12, Bank of Italy, Economic Research and International Relations Area.
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