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on Tourism Economics |
| By: | George Athanasopoulos; Minfeng Deng; Gang Li; Haiyan Song |
| Abstract: | This study uses a system-of-equations approach to model the substitution relationship between Australian domestic and outbound tourism demand. A new price variable based on relative ratios of purchasing power parity index is developed for the substitution analysis. Short-run demand elasticities are calculated based on the estimated dynamic almost ideal demand system. The empirical results reveal significant substitution relationships between Australian domestic tourism and outbound travel to Asia, the UK and the US. This study provides scientific support for necessary policy considerations to promote domestic tourism further. |
| Keywords: | domestic tourism, substitution, almost ideal demand system, purchasing power parity, Australia |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:msh:ebswps:2013-6&r=tur |
| By: | Carl S. Bonham (University of Hawaii Department of Economics); Katerina Peter Fuleky (University of Hawaii Department of Economics); Qianxue Zhao (University of Hawaii Economic Research Organizaion) |
| Abstract: | Tourism demand elasticities are central to marketing, forecasting and policy work, but the wide array of occasionally counterintuitive estimates produced by existing empirical studies implies that some of those results may be inaccurate. To improve the precision of estimates, it is natural to turn to the richness of panel data. However, panel estimation using non-stationary data requires careful attention to the likely presence of common shocks shared across the underlying macroeconomic variables and across regions. Several recently developed econometric tools for panel data analysis attempt to deal with such cross-sectional dependence. We apply the estimator of Pesaran (2006) and Kapetinos, Pesaran and Yamagata (2010) to obtain tourism demand elasticities in non-stationary heterogeneous dynamic panels subject to common factors. We study the extent to which tourism arrivals from the US Mainland to Hawaii are driven by fundamentals such as real personal income and the cost of the trip, and we nd that neglecting cross-sectional dependence in the data leads to spurious results. |
| Keywords: | Panel Cointegration, Cross-Sectional Dependence, Tourism Demand, Hawaii |
| JEL: | C23 C51 L83 R41 |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:hai:wpaper:201303&r=tur |
| By: | Daniel Montolio (University of Barcelona & IEB); Simón Planells (University of Barcelona & IEB) |
| Abstract: | The growth in the number of tourist arrivals in Spain in recent years has had significant economic repercussions; yet, little has been reported about its negative impact. This study goes some way to rectifying this by estimating the impact of tourist activity on crime rates in the Spanish provinces during the period 2000-2008. We use both 2-SLS and GMM techniques in a panel data framework to overcome the various challenges posed by estimating this relationship, namely, controlling for the unobserved characteristics of the provinces, and accounting for both the possible endogeneity of the tourist variable and the inertia of criminal activities. The results show that tourist arrivals have a positive and significant impact on crimes against both property and the person. |
| Keywords: | Crime, tourism, seasonality |
| JEL: | C23 H50 I2 J24 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:ieb:wpaper:2013/6/doc2013-4&r=tur |
| By: | Phoebe Koundouri; Riccardo Scarpa; Mavra Stithou |
| Abstract: | The valuation method of Choice Experiments (CEs) is often used for the economic valuation of natural areas with several nonmarket features that are either degraded or under-degradation. This method can be used to obtain estimates of Willingness-to-Pay (WTP) for the sustainability of several features of natural ecosystems. In particular, the CE method is a survey-based nonmarket valuation technique which can be used to estimate the total economic value of an environmental good in the form of a stock or a service flow as well as the value of its component attributes. Particularly, the bundle of improvements that have been valued in the Asopos water catchment and presented in this chapter is a mixture of use and non-use values. These include: (a) environmental conditions described in terms of ecological status in all water bodies of the catchment, (b) impact on the local economy in terms of tourism/recreation, demand for local production and cost of living for households and (c) impact on human health described as availability of water with a quality and quantity sufficient for satisfying different local uses. It should be also noted that the survey has been administered in samples of respondents from both the Asopos catchment area (more rural) and the Athens area (more urban), since there is the belief that residents of the Asopos River Basin (RB) are not the only ones who would benefit from the environmental improvements taking place in Asopos area. From a broader policy perspective the goal is to derive estimates of values to inform a cost-effectiveness analysis for the determination of the optimal program of measures as suggested in the content of Article 11 of Water Framework Directive (WFD). |
| Date: | 2013–03–06 |
| URL: | http://d.repec.org/n?u=RePEc:aue:wpaper:1314&r=tur |
| By: | Zawadzki, Krystian; Wasilczuk, Julita |
| Abstract: | In the course of preparations to the 2012 European Football Championship (Euro 2012) many doubts have arisen as to the actual cost-benefit balance affecting the hosting country. The event is accompanied by intense promotion of the agglomeration and the region, especially abroad. In effect, one can anticipate the competitive position of both the region and the businesses operating there to improve. The investigation whether the Euro 2012 will have an impact on the Pomeranian Region was conducted threefold. First, a modified Preuss (2007a) model was used to analyse the regional environment factors, which would contribute to improve competitiveness of the region and its Small and Medium Enterprises (SMEs). In the second area, the short run increase in business activities were investigated using the field research among the entrepreneurs. The last part of research was focused on the growth willingness of entrepreneurs. |
| Keywords: | Mega Sport Event, Competitiveness, Entrepreneurship |
| JEL: | D81 R11 |
| Date: | 2013–02–18 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:44468&r=tur |
| By: | Thomas Coisnon (UMR GRANEM - UMR MA 49 – Université d'Angers et Agrocampus Ouest - Université d'Angers); Walid OUESLATI (UMR GRANEM - UMR MA 49 – Université d'Angers et Agrocampus Ouest - Université d'Angers); Julien Salanié (Granem - Groupe de Recherche ANgevin en Economie et Management - Agrocampus Ouest - Institut national de la recherche agronomique (INRA) : UMR49) |
| Abstract: | Widespread public support exists for the provision of natural amenities, such as lakes, rivers or wetlands, and for efforts to preserve these from agricultural pollution. Agri-environmental policies contribute to these efforts by encouraging farmers to adopt environmentally friendly practices within the vicinity of these ecosystems. A spatially targeted agri-environmental policy promotes natural amenities and may thereby affect household location decisions. The purpose of this paper is to investigate the extent of these impacts on the spatial urban structure. We extend a monocentric city model to include farmers' responses to an agri-environmental policy. Our main findings are that the implementation of a spatially targeted agri-environmental policy may lead to some additional urban development, which could conflict with the aim of the policy. |
| Keywords: | Land development; Urban sprawl; Leapfrog; Land rent; Monocentric model; Farming; Agri-environmental policy; Spatial targeting; Agricultural pollution. |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-00795815&r=tur |
| By: | Zawadzki, Krystian |
| Abstract: | This study attempts to estimate the impact of mega sports events organization on the stock market. For this purpose, there were selected seven sporting events taking place in the World Cup and European Football Championships and summer and winter Olympic Games. Next their impact on national equity markets represented by the major stock indices was determined. The study was conducted in two periods of research, ie the date of publication decision to hold an event and during the event itself. |
| Keywords: | mega sport event, stock market, stock indices, Olympic Games, World Cup, European Football Championship |
| JEL: | G14 G15 |
| Date: | 2013–02–18 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:44467&r=tur |