ARE TOURISM IMPORTS a LUXURY or NECESSITY?
Abstract
This Article Compares the Impact of Economic Development on the Import Demand for International Trade and International (Outbound) Tourism using Cointegration Analysis on a Panel of Countries at the Turn of the Century. Initial Evidence Suggests that Substantially Different Properties Exist between the Total Import Demand and the Tourism Import Demand. in Particular, the Distinct Difference Lies in How Each Type of Import Demand Responds to Economic Development. It Can Be Concluded that International Travel Has Become More of a Necessity Than a Luxury in the Process of Economic Development towards the End of the 20th Century, Especially in Countries with Higher Levels of Economic Development. This Result is in Contrast to the Documented Stylized International Pattern for Aggregate Import Data.
Recommended Citation
Bojanic, D., & Lo, M. (2021). ARE TOURISM IMPORTS a LUXURY or NECESSITY?. Tourism Analysis, 26(1), pp. 65-69. Cognizant Communication Corporation.
The definitive version is available at https://doi.org/10.3727/108354220X15950810139337
Department(s)
Business and Information Technology
Second Department
Economics
Keywords and Phrases
Economic development; Income elasticity; Panel cointegration; Tourism import demand
International Standard Serial Number (ISSN)
1943-3999; 1083-5423
Document Type
Article - Journal
Document Version
Citation
File Type
text
Language(s)
English
Rights
© 2023 Cognizant Communication Corporation, All rights reserved.
Publication Date
01 Jan 2021
