Estimating Tourism Import Demand Elasticities for Four Countries Using the General-to-specific Approach
DOI:
https://doi.org/10.33423/jabe.v21i3.2081Keywords:
Business, Economics, Tourism, global financial crisis, Australia, Canada, Japan, United StatesAbstract
This paper applied the general-to-specific econometric modelling technique to estimate demand for tourism imports and the corresponding elasticities for four countries: Australia; Canada; Japan and USA. The findings indicate that tourism imports are generally income and price elastic with values ranging from 1.476 to 1.783 for income elasticity and -1.201 to -1.721 for price elasticity. Furthermore, the findings reveal that, after controlling for seasonality in the data, demand for tourism import is influenced by global financial crisis, disasters and country-specific problems. These findings have important implications for tourism import management, especially in the broader context of promoting tourism imports.
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Published
2019-07-17
How to Cite
Mohammed, I. (2019). Estimating Tourism Import Demand Elasticities for Four Countries Using the General-to-specific Approach. Journal of Applied Business and Economics, 21(3). https://doi.org/10.33423/jabe.v21i3.2081
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