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Advances in Decision Sciences (ADS)

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Foreign Tourism in Andalusia: A Dynamic Panel Data Analysis

Foreign Tourism in Andalusia: A Dynamic Panel Data Analysis

Title

Foreign Tourism in Andalusia:A Dynamic Panel Data Analysis

Authors

  • Adrian Mendieta-Aragon
    (National University of Distance Education (UNED), Madrid, Spain)
  • Teresa Garin-Munoz
    (National University of Distance Education (UNED), Madrid, Spain)

Abstract

This paper studies the main determinants of the inbound international tourism in Andalusia and quantify its incidence. Based on the classical theoretical framework for tourism demand, we incorporate dynamics into the model by adding the lagged dependent variable as an explanatory variable, along with the per capita income of the tourist’s country of origin, the relative prices between the origin and destination countries and the cost of travel. The empirical model is applied to a panel data set consisting of 21 countries of origin of the tourists for the period 2008–2018. Data were collected from the Hotel Occupancy Survey (HOS), published by the National Statistics Institute of Spain (INE). The results have been obtained using the GMM DIFF estimator of Arellano and Bond. The parameters estimated reflect a high level of consumer loyalty and the importance of the word-of-mouth effect. Moreover, the income elasticity indicates that the demand for tourism in Andalusia may be considered as a luxury good. Prices have a negative relationship with tourism demand. The cost of travel, which has a negative effect, is statistically significant to explain the number of tourists’ arrivals and, however, it is not significant for the overnight stays model.

Keywords

Dynamic model; Panel data; Tourism demand elasticities; Consumer loyalty; Habit persistence

Classification-JEL

L83, C01, C23, C51

Pages

110-141

https://doi.org/10.47654/v24y2020i3p110-141

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ISSN 2090-3359 (Print)
ISSN 2090-3367 (Online)

Asia University, Taiwan

Scientific and Business World

4.7
2023CiteScore
 
86th percentile
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SCImago Journal & Country Rank
Q2 in Scopus
CiteScore 2023 = 4.7
CiteScoreTracker 2024 = 8.5
SNIP 2023 = 0.799
SJR Quartile = Q1
SJR 2024 = 0.814
H-Index = 20

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