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How elastic are sea, sand and sun? Dynamic panel estimates of the demand for tourism

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  • William Maloney
  • Gabriel V. Montes Rojas

Abstract

This paper employs recent advances in dynamic panel data analysis to study the determinants of tourist flows to the Caribbean. Consistent with the theoretical literature, the results are found to be highly sensitive to estimation technique. The preferred GMM system suggests income and price elasticities substantially above those found in the literature.

Suggested Citation

  • William Maloney & Gabriel V. Montes Rojas, 2005. "How elastic are sea, sand and sun? Dynamic panel estimates of the demand for tourism," Applied Economics Letters, Taylor & Francis Journals, vol. 12(5), pages 277-280.
    • Handle: RePEc:taf:apeclt:v:12:y:2005:i:5:p:277-280
    DOI: 10.1080/1350485042000338626
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    References listed on IDEAS

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    Cited by:

    1. Nuno Carlos LEITÃO & Muhammad SHAHBAZ, 2012. "Migration and Tourism Demand," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(567)), pages 39-48, February.
    2. Gawande, Kishore & Maloney, William & Montes-Rojas, Gabriel, 2009. "Foreign informational lobbying can enhance tourism: Evidence from the Caribbean," Journal of Development Economics, Elsevier, vol. 90(2), pages 267-275, November.
    3. Santana-Jiménez, Yolanda & Hernández, Juan M., 2011. "Estimating the effect of overcrowding on tourist attraction: The case of Canary Islands," Tourism Management, Elsevier, vol. 32(2), pages 415-425.
    4. Adina Berbeniciuc-Mititiuc, 2013. "Comparative Study on the Competitiveness of Romanian and Bulgarian Tourism Industry," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(4), pages 163-176, August.
    5. Duha Altindag, 2014. "Crime and International Tourism," Journal of Labor Research, Springer, vol. 35(1), pages 1-14, March.
    6. Su, Yu-Wen & Lin, Hui-Lin, 2014. "Analysis of international tourist arrivals worldwide: The role of world heritage sites," Tourism Management, Elsevier, vol. 40(C), pages 46-58.
    7. Tsionas, Efthymios G. & George Assaf, A., 2014. "Short-run and long-run performance of international tourism: Evidence from Bayesian dynamic models," Tourism Management, Elsevier, vol. 42(C), pages 22-36.
    8. Cernat, Lucian & Gourdon, Julien, 2012. "Paths to success: Benchmarking cross-country sustainable tourism," Tourism Management, Elsevier, vol. 33(5), pages 1044-1056.
    9. Rafael L. Myro & Belén Rey & Pablo I. Hernández, 2014. "Mixed effects of low-cost airlines on tourism in Spain," Working Papers 14-04, Asociación Española de Economía y Finanzas Internacionales.
    10. Juan L. Eugenio-Martin & Noelia Martín-Morales & M. Thea Sinclair, 2008. "The Role of Economic Development in Tourism Demand," Tourism Economics, , vol. 14(4), pages 673-690, December.
    11. Chukiat Chaiboonsri & Prasert Chaitip & N. Rangaswamy, 2008. "A Panel Unit Root and Panel Cointegration Test of the Modeling International Tourism Demand in India," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 8(1), pages 95-124.
    12. Salvatore Costantino & Maria Francesca Cracolici & J. Paul Elhorst, 2023. "A spatial origin‐destination approach for the analysis of local tourism demand in Italy," Papers in Regional Science, Wiley Blackwell, vol. 102(2), pages 393-419, April.
    13. Albaladejo, Isabel P. & González-Martínez, María Isabel & Martínez-García, María Pilar, 2016. "Nonconstant reputation effect in a dynamic tourism demand model for Spain," Tourism Management, Elsevier, vol. 53(C), pages 132-139.
    14. Prasert Chaitip & Chukiat Chaiboonsri, 2009. "A Panel Cointegration Analysis: Thailand’s International Tourism Demand Model," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 9(1), pages 129-142.
    15. Chukiat Chaiboonsri & Jittaporn Sriboonjit & Thanes Sriwichailamphan & Prasert Chaitip & Songsak Sriboonchitta, 2010. "A Panel Cointegration Analysis: An Application To International Tourism Demand Of Thailand," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 10(3), pages 69-86.
    16. Yang, Chih-Hai & Lin, Hui-Lin & Han, Chia-Chun, 2010. "Analysis of international tourist arrivals in China: The role of World Heritage Sites," Tourism Management, Elsevier, vol. 31(6), pages 827-837.
    17. Steven Buigut & Djesika D. Amendah, 2016. "Effect of terrorism on demand for tourism in Kenya," Tourism Economics, , vol. 22(5), pages 928-938, October.
    18. Robertico Croes & Manuel A. Rivera, 2017. "Tourism’s potential to benefit the poor," Tourism Economics, , vol. 23(1), pages 29-48, February.
    19. Nuno, Carlos Leitão & Muhammad, Shahbaz, 2011. "Migration and Tourist Flows," MPRA Paper 34905, University Library of Munich, Germany, revised 12 Nov 2011.
    20. Fabio Mazzola & Pietro Pizzuto & Giovanni Ruggieri, 2022. "Tourism and territorial growth determinants in insular regions: A comparison with mainland regions for some European countries (2008–2019)," Papers in Regional Science, Wiley Blackwell, vol. 101(6), pages 1331-1382, December.

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