Assessing the impact of shocks on international tourism demand for Portugal

• Ana C.M. Daniel ^[1] ; Paulo M.M. Rodrigues ^[2]
  1. [1] Instituto Politécnico da Guarda

     Instituto Politécnico da Guarda

     Guarda (Sé), Portugal

     
  2. [2] Universidade Nova de Lisboa

     Universidade Nova de Lisboa

     Socorro, Portugal

     
• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 18, Nº. Extra 3, 2012 (Ejemplar dedicado a: New advances in tourism economics), págs. 617-634
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • In this paper, a vector autoregressive (VAR) framework is used to model international tourism demand from the five main inbound tourism countries for Portugal: Germany, Spain, France, the Netherlands and the UK. Given the non-stationarity of the variables considered, vector error correction models (VECMs) are estimated. These are then used to analyse the impulse response functions in order to determine how international tourism demand for Portugal reacts to shocks to some of its important drivers, such as income, the cost of living in Portugal and the cost of living in Spain (the last as representative of the price in the main competing market with Portugal).