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on Tourism Economics |
| By: | Otto, Daniel |
| Abstract: | Investments by Coon Rapids and the Whiterock Nature Conservancy in tourism related amenities were inventoried and the economic impacts of these investments were evaluated. |
| Date: | 2009–07–08 |
| URL: | http://d.repec.org/n?u=RePEc:isu:genres:13088&r=tur |
| By: | Koi Nyen Wong; Tuck Cheong Tang |
| Abstract: | Tourism has been identified as one of the key growth sectors in Singapore economy. Given that the city state has been recognised as one of the most open economies in the world, this study attempts to explore the causality relationships between tourism, openness to merchandise and services trade. Firstly, the study shows bi-direction causality between international visitor arrivals to Singapore and openness to merchandise trade. Secondly, there is a unidirectional causality from openness to services trade to international visitor arrivals to Singapore. The findings imply that further trade liberalisation in goods as well as services sectors can be seen as an important catalyst for the growth, and development of the tourism sector. Conversely, an increase in tourism activities could also encourage the host country to open itself to more international trade. Furthermore, it is imperative to liberalise the services sector in Singapore in order facilitate more openness in merchandise trade given a large scale of services constitutes goods trade. |
| Keywords: | Causality; Trade Openness; Tourism; Singapore. |
| JEL: | F41 L83 |
| Date: | 2009–06 |
| URL: | http://d.repec.org/n?u=RePEc:mos:moswps:2008-26&r=tur |
| By: | Hooi Hooi Lean; Russell Smyth |
| Abstract: | International visitor arrivals from Malaysia’s ten major source markets are examined using Lagrange Multiplier (LM) unit root tests with one and two structural breaks to ascertain if shocks to the time path of tourist arrivals are permanent or transitory. The LM unit root test with one break is able to reject the unit root null for between 60 per cent of source markets where the break is specified as in the intercept and 90 per cent of source markets where the break is specified as in the intercept and slope. The LM unit root test with two breaks is able to reject the unit root null for all source markets, irrespective of how the break is specified. This result suggests that the effects of shocks on the growth path of tourist arrivals to Malaysia from its major markets are only transitory and that Malaysia’s tourist sector is sustainable in the long run. While the effects of shocks are not permanent we do find that following shocks the growth in tourist arrivals from Malaysia’s source markets have generally slowed. This result suggests there is a need to reduce the negative effects of slower growth in the recovery phase. |
| Date: | 2009–06 |
| URL: | http://d.repec.org/n?u=RePEc:mos:moswps:2006-11&r=tur |
| By: | Makena Coffman (Department of Urban and Regional Planning, University of Hawaii at Manoa; University of Hawaii Economic Research Organization); Ilan Noy (Department of Economics, University of Hawaii at Manoa) |
| Abstract: | The importance of understanding the macro-economic impact of natural disasters cannot be overstated. Hurricane Iniki, that hit the Hawaiian island of Kauai on September 11th, 1992, offers an ideal case study to better understand the long-term economic impacts of a major disaster. Iniki is uniquely suited to provide insights into the long-term economic impacts of disaster because (1) there is now seventeen years of detailed post-disaster economic data and (2) a nearby island, Maui, provides an ideal control group. Hurricane Iniki was the strongest hurricane to hit the Hawaiian Islands in recorded history, and wrought an estimated 7.4 billion (2008 US$) in initial damage. Here we show that Kauai’s economy only returned to pre-Iniki levels 7-8 years after the storm; though 17 years later, it has yet to recover in terms of its population and labor force. As we document, these long-term adverse impacts of disasters are ‘hidden.’ They are not usually treated as ‘costs’ of disasters, and are ignored when cost-benefit analysis of mitigation programs is used, or when countries, states, and islands attempt to prepare, financially and otherwise, to the possibility of future events. |
| Keywords: | natural disasters, hurricane, Iniki, Kauai, Hawaii |
| JEL: | Q54 R50 |
| Date: | 2009–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:hai:wpaper:200905&r=tur |