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Co-movement in tourist arrivals in the Caribbean

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  • Lorde, Troy
  • Moore, Winston

Abstract

Although the Caribbean is often seen as a homogenous group of tourist destinations, this is not the case. Countries across the region differ in terms of their key source markets, infrastructural development of their industry and the sources of economic shocks. This paper investigates, through the use of univariate and multivariate time series techniques and monthly data from 1977 to 2002, whether tourist arrivals to the Caribbean have been converging and if there is stable relationship between the tourist cycles in each country. If arrivals to the Caribbean are converging over time, differences between countries, in terms of tourism penetration, should decline. The empirical results presented in the paper suggest that there is no convergence in levels, but in the rates of growth. There also exists a stable long run relationship between the rates of growth of tourist arrivals to various Caribbean countries.

Suggested Citation

  • Lorde, Troy & Moore, Winston, 2006. "Co-movement in tourist arrivals in the Caribbean," MPRA Paper 95598, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:95598
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    Cited by:

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    2. Valadkhani, Abbas & O’Mahony, Barry, 2015. "Dynamics of Australia’s tourism in a multimarket context," Annals of Tourism Research, Elsevier, vol. 55(C), pages 173-177.
    3. Berhan ÇOBAN & Esin FİRUZAN, 2019. "Convergence and Cointegration Analysis under Structural Breaks: Application of Turkey Tourism Markets," Sosyoekonomi Journal, Sosyoekonomi Society, issue 27(39).
    4. Burcu Ozcan, 2014. "Do Tourism Markets Of Turkey Converge?," Proceedings of International Academic Conferences 0200630, International Institute of Social and Economic Sciences.
    5. Abbott, Andrew & De Vita, Glauco & Altinay, Levent, 2012. "Revisiting the convergence hypothesis for tourism markets: Evidence from Turkey using the pairwise approach," Tourism Management, Elsevier, vol. 33(3), pages 537-544.
    6. Fatih Kaplan & Erdoğan Öztürk & Şule Güngör, 2017. "Is The Club Convergence Hypothesis Valid For Turkey Tourism Market?," European Journal of Business and Economics, Central Bohemia University, vol. 12(2), pages 11181:12-11, January.
    7. Lorde, Troy & Jacob, Jadon & Weekes, Quinn, 2018. "Price-Setting Behavior in a Tourism Sharing Economy Accommodation Market: A Hedonic Price Analysis of AirBnB Hosts in the Caribbean," MPRA Paper 95475, University Library of Munich, Germany.
    8. Svetlana Gurieva & Irina Kuznetsova & Ekaterina Yumkina & Sergey Manichev & Elena Sidorenko, 2017. "Emotional Intelligence and Behavior Styles of Russian Middle Managers in Business Communication," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 679-693.
    9. Fatih Kaplan & Erdo?an ?zt¨¹rk & ?ule G¨¹ng?r, 2017. "Is the Club Convergence Hypothesis Validy for Turkey Tourism Market," Research in Applied Economics, Macrothink Institute, vol. 9(3), pages 24-30, September.
    10. Stavros A Kourtzidis & Panayiotis Tzeremes & Nickolaos G Tzeremes & Tomáš Heryán, 2018. "Integration of tourism markets in Australia," Tourism Economics, , vol. 24(7), pages 901-907, November.
    11. Sakiru Adebola Solarin, 2014. "Revisiting the Convergence Hypothesis of Tourism Markets: Evidence from South Africa," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 8(1), pages 77-92, February.
    12. Lin, Zhibin & You, Kefei & Lau, Chi Keung & Demir, Ender, 2019. "Segmenting global tourism markets: A panel club convergence approach," Annals of Tourism Research, Elsevier, vol. 75(C), pages 165-185.
    13. Mérida, Adrián L. & Carmona, Mónica & Congregado, Emilio & Golpe, Antonio A., 2016. "Exploring the regional distribution of tourism and the extent to which there is convergence," Tourism Management, Elsevier, vol. 57(C), pages 225-233.

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    More about this item

    Keywords

    convergence; stability; tourist arrivals; Caribbean;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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