nep-tur New Economics Papers
on Tourism Economics
Issue of 2007‒08‒08
five papers chosen by
Antonello Scorcu
University of Bologna

  1. Modeling the supply and demand for tourism: a fully identified VECM approach By Allison Zhou; Carl Bonham; Byron Gangnes
  2. Estimating Tourist Externalities on Residents: A Choice Modeling Approach to the Case of Rimini By Paolo Figini; Massimiliano Castellani; Laura Vici
  3. One year later: A re-appraisal of the economics of the 2006 soccer World Cup By Wolfgang Maennig
  4. Economic Impact of 10K Race on the Greater Charleston, SC Area By Harry Davakos
  5. Economic Impact of Bonnaroo Music Festival on Coffee County By Murat Arik

  1. By: Allison Zhou (Department of Economics and University of Hawaii Economic Research Organization, University of Hawaii at Manoa); Carl Bonham (Department of Economics and University of Hawaii Economic Research Organization, University of Hawaii at Manoa); Byron Gangnes (Department of Economics and University of Hawaii Economic Research Organization, University of Hawaii at Manoa)
    Abstract: Cointegration analysis has gradually appeared in the empirical tourism literature. However, the focus has been exclusively on the demand side, neglecting potentially-important supply-side influences and risking endogeneity bias. One reason for this omission may be the difficulty identifying structural relationships in a system setting. We estimate a vector error correction model of the supply and demand for Hawaii tourism using a theory-directed sequential reduction method suggested by Hall et al. (2002). We compare forecasts for the selected model and for two competing models. Diebold and Mariano (1995) tests for forecast accuracy demonstrate the satisfactory performance of this approach.
    Keywords: catastrophe, Cointegration, Vector error correction model, Identification, Tourism demand and supply analysis, Hawaii
    JEL: C32 L83
    Date: 2007–07–20
  2. By: Paolo Figini (University of Bologna); Massimiliano Castellani (University of Bologna); Laura Vici (University of Bologna)
    Abstract: During their holidays, tourists produce direct and indirect effects on local residents, which can either be positive or negative. In this paper we investigate how residents of Rimini, a popular Italian seaside resort hosting more than ten million national and foreign overnight stays every year, internalise such effects. We use a stated preference approach and, in particular, a discrete choice modelling technique; within this framework, we are able to test some conjectures about residents’ welfare, by measuring their willingness to pay for alternative scenarios regarding the use of the territory. Tourist policies and public investments in the destination affect residents’ welfare, and our results might suggest areas of potential synergies and trade-off, leading to important policy implications.
    Keywords: Tourism, External Effects, Discrete Choice Modelling
    JEL: Q56 L83 C25
    Date: 2007–07
  3. By: Wolfgang Maennig (University of Hamburg)
    Abstract: No two ways about it: the soccer World Cup competition in June 2006 in Germany was a great experience, not only for the soccer fans, and it still resonates far and wide. The various commentaries have all concluded that the economic effects were positive. Emphasis has often been placed on increased turnover in the retail trade, overnight accommodation, receipts from tourism and effects on employment. The present study shows that this reasoning is mostly of little value and may even be incorrect. Of more significance, however, are other (measurable) effects such as the novelty effect of the stadiums, the improved image for Germany and the feelgood effect for the population
    Keywords: Regional economics, sports economics, World Cup, Stadium Impact
    JEL: L83 R53 R58
    Date: 2007–07
  4. By: Harry Davakos (The Citadel)
    Abstract: This paper will deal with the economic impact of the Cooper River Bridge Run on the Lowcountry region of South Carolina, and specifically on the city of Charleston and town of Mt. Pleasant. Additionally, although the event is also billed, at least theoretically, as one that also contributes to a labor income impact, and the creation of additional local jobs, that might happen only in theory. Furthermore, intangible impacts of the race might in reality be the greatest benefit of them all for the participants and local areas. Finally, the benefit of self-administered survey (web-based) over traditionally administered (physically, through volunteers) will be discussed and examined.
    Keywords: Economic Impact, Sport Tourism, Social Impact, Health Impact
    JEL: L83
    Date: 2007–06
  5. By: Murat Arik
    Date: 2005–11

This nep-tur issue is ©2007 by Antonello Scorcu. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
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