nep-tur New Economics Papers
on Tourism Economics
Issue of 2017‒05‒21
three papers chosen by
Laura Vici
Università di Bologna

  1. Tourism Stocks in Times of Crises: an Econometric Investigation of Non-macro Factors By Zopiatis, A.; Savva, C.S.; Lambertides, N.; McAleer, M.J.
  2. Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism By Sebastian Acevedo Mejia; Trevor Serge Coleridge Alleyne; Rafael Romeu
  3. Cruise Shipping and Urban Development: The Case of Dublin By ITF

  1. By: Zopiatis, A.; Savva, C.S.; Lambertides, N.; McAleer, M.J.
    Abstract: Following the recent terrorist attacks in Paris, the European media emphatically pronounced that billions of euros were wiped from tourism related stocks. This comes at a troublesome time for the tourism industry, in the midst of a global financial crisis, and the unpredictable rise of radical Islamic ideologies, which have caused chaos in the Middle East and Europe. The relationship and vulnerability of the industry to non-macro incidents have been well documented in the literature, mostly in theoretical terms. Nevertheless, the quantifiable impact of such events on tourism-specific stock values, both in terms of returns and volatility, received much less attention. With the use of an econometric methodology, the paper aims to enhance our conceptual capital pertaining to the effects of such possibilities on five hospitality and tourism stock indices. The empirical findings are of interest to stakeholders at all echelons of the spectra of the tourism and financial industries.
    Keywords: Tourism, Terrorism, Stock Market, Event Study, GJR, Econometric Modeling
    JEL: C21 C58 G01 H12 Z32
    Date: 2016–11–01
  2. By: Sebastian Acevedo Mejia; Trevor Serge Coleridge Alleyne; Rafael Romeu
    Abstract: The Cuban revolution and the subsequent US embargo on Cuba helped shape the tourism sector in the Caribbean, facilitating the birth and growth of alternative destinations. Therefore, the apprehension of the Caribbean tourism industry towards a change in US travel policy to Cuba is understandable, but likely unwarranted. The history of tourism in the region has shown that it is possible for all destinations to grow despite large changes in market shares. Our estimations show that liberalizing US-Cuba tourism could result in US arrivals to Cuba of between 3 and 5.6 million, most of it coming from new tourists to the region. We also identify the destinations most at risk of changes in US-Cuba relations.
    Keywords: Western Hemisphere;Cuba;Economic integration;Caribbean;Tourism;Trade;United States;Gravity model, Country and Industry Studies of Trade
    Date: 2017–04–28
  3. By: ITF
    Abstract: This report analyses Dublin’s attractiveness as a cruise port and assesses the impacts of cruise shipping on the city. It evaluates policies in place and provides recommendations to increase the positive impacts of cruise shipping for the city of Dublin. Over the last decade, Dublin has grown as an important port of call for cruises in Northern Europe. Cruise tourism generates significant economic benefits for the city of Dublin. The value cruise tourism brings could be further increased by developing Dublin into a cruise home port, that is a port from which cruises start and where they end. Under which conditions could this be achieved? Which policy measures would be needed? Which stakeholders would need to be involved? This report is part of the International Transport Forum’s Case-Specific Policy Analysis series. These are topical studies on specific issues carried out by the ITF in agreement with local institutions.
    Date: 2017–01–23

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