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Capital in a Tourism Satellite Account

Author

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  • Douglas Holtz-Eakin

    (Professor and Chair, Department of Economics and Associate Director, Center for Policy Research, Maxwell School of Citizenship and Public Affairs, 426 Eggers Hall, Syracuse University, Syracuse, NY 13244-1020, USA. Tel: +1 315 443 3115. Fax: +1 315 443 1081)

Abstract

On the basis that it is important for any measurement programme associated with the economics of tourism to contain a capital formation component, this paper presents a conceptual framework for developing comprehensive measures of Tourism Capital Formation as part of a Tourism Satellite Account (TSA). The paper suggests a method for determining the degree to which the accumulated stock of capital in an economy (or the corresponding flow of new capital expenditures) is, in the words of Tourism Satellite Accounts: A Methodological Framework , ‘driven by the needs of visitors’. In doing this, it examines the issues involved in extending the use of conventional measures of aggregate, industry-specific capital accumulation to provide comprehensive measures of capital usage as part of a TSA. The argument is developed as follows. After an overview of concepts and issues associated with capital measurement, the basic framework is adapted to the specific task of allocating capital assets to the generation of tourism goods and services. Then, answers are offered to a set of detailed questions concerning the linkages of the proposed techniques to previous work on TSAs. In its penultimate section, the paper presents a discussion of specific measurement questions and research requirements. The final section is a summary of conclusions.

Suggested Citation

  • Douglas Holtz-Eakin, 2001. "Capital in a Tourism Satellite Account," Tourism Economics, , vol. 7(3), pages 215-232, September.
    • Handle: RePEc:sae:toueco:v:7:y:2001:i:3:p:215-232
    DOI: 10.5367/000000001101297838
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    Cited by:

    1. Umme Salma, 2006. "Tourism Investment in Australia," Tourism Economics, , vol. 12(2), pages 207-223, June.
    2. Doris Chenguang Wu & Jingyan Liu & Haiyan Song & Anyu Liu & Hui Fu, 2019. "Developing a Web-based regional tourism satellite account (TSA) information system," Tourism Economics, , vol. 25(1), pages 67-84, February.

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