IDEAS home Printed from https://ideas.repec.org/a/pet/annals/v10y2010i2p85-98.html
   My bibliography  Save this article

International Tourists’ Expenditures In Thailand: A Modelling Of The Arfima-Figarch Approach

Author

Listed:
  • Kanchana Chokethaworn

    (Chiang Mai University, Thailand)

  • Aree Wiboonponse

    (Chiang Mai University, Thailand)

  • Songsak Sriboonchitta

    (Chiang Mai University, Thailand)

  • Jittaporn Sriboonjit

    (Thammassat University, Thailand)

  • Chukiat Chaiboonsri

    (Chiang Mai University, Thailand)

  • Prasert Chaitip

    (Chiang Mai University, Thailand)

Abstract

Forecasting is an essential analytical tool for tourism policy and planning. This paper focuses on forecasting methods based on ARFIMA(p,d,q)-FIGARCH(p,d,q). Secondary data was used to produce forecasts of international tourists’ expenditures in Thailand for the period 2009-2010. The results of this research for this period confirms that the best forecasting method based on ARFIMA(p,d,q)-FIGARCH(p,d,q) method is the ARFIMA(1,-0.672,1)-FIGARCH(1,-0.180,1) method. Furthermore, this method predicts the expenditures of tourists in Thailand for the period of 2009-2010 will be constant or decline. If these results can be generalized for future years, then it suggests that both the Thailand government sector and also the private tourism industry sector of Thailand need to develop the tourism market of Thailand immediately and also develop tourism products in Thailand.

Suggested Citation

  • Kanchana Chokethaworn & Aree Wiboonponse & Songsak Sriboonchitta & Jittaporn Sriboonjit & Chukiat Chaiboonsri & Prasert Chaitip, 2010. "International Tourists’ Expenditures In Thailand: A Modelling Of The Arfima-Figarch Approach," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 10(2), pages 85-98.
    • Handle: RePEc:pet:annals:v:10:y:2010:i:2:p:85-98
    as

    Download full text from publisher

    File URL: http://upet.ro/annals/economics/pdf/2010/20100209.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:grm:ecoyun:202102 is not listed on IDEAS
    2. Ruxandra-Irina POPESCU & Rãzvan-Andrei CORBOª, 2013. "€Œamazing Thailand €“ Its Contribution To Growing The Country’S Competitiveness," Proceedings of Administration and Public Management International Conference, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 9(1), pages 220-234, June.
    3. repec:rom:campco:v:9:y:2013:i:1:p:220-234 is not listed on IDEAS

    More about this item

    Keywords

    Thailand; ARFIMA-FIGARCH method; International Tourists’ Expenditure;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pet:annals:v:10:y:2010:i:2:p:85-98. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Imola Driga (email available below). General contact details of provider: http://www.upet.ro/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.