Exchange rate regimes and tourism

María Santana Gallego ^[1] ; Francisco J. Ledesma Rodríguez ^[1] ; Jorge V. Pérez Rodríguez ^[2]
1. [1] Universidad de La Laguna
  
  Universidad de La Laguna
  
  San Cristóbal de La Laguna, España
2. [2] Universidad de Las Palmas de Gran Canaria
  
  Universidad de Las Palmas de Gran Canaria
  
  Gran Canaria, España
Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 16, Nº. Extra 1, 2010 (Ejemplar dedicado a: Special Focus: The Economics of Tourism – New Directions), págs. 25-43
Idioma: inglés
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Resumen
- The main objective of this paper is to analyse the effect of exchange rate arrangements on international tourism. The ambiguity in the literature about the effect of exchange rate volatility contrasts with the magnitude of the impact of a common currency on trade. The authors apply panel data techniques to analyse the relevance of a common currency to tourism, finding that it is a major factor in the determination of tourist arrivals. They also analyse the impact of several de facto exchange rate arrangements on tourism, finding that less flexible exchange rates promote tourism.