Research Article
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Year 2023, Volume: 11 Issue: 2, 256 - 276, 01.06.2023
https://doi.org/10.30519/ahtr.1204246

Abstract

References

  • Abdou, M., Musabanganji, E., & Musahera, H. (2022). Determinants of tourism demand using machine learning techniques. African Journal of Hospitality, Tourism and Leisure, 11(2), 770–780. https://doi.org/10.46222/ajhtl.19770720.256
  • Baiburiev, R., David, L., Abdreyeva, S., Zhakupova, A., & Artemyev, A. (2018). Impacts of tourism activities on economy of Kazakhstan. Geojournal of Tourism and Geosites, 22(2), 480–488. https://doi.org/10.30892/GTG.22217-304
  • Balcilar, M., Aghazadeh, S., & Ike, G. N. (2021). Modeling the employment, income and price elasticities of outbound tourism demand in OECD countries. Tourism Economics, 27(5), 971–990.
  • Baltagi, B. H., & Wu, P. X. (1999). Unequally spaced panel data regressions with AR(1) disturbances. Econometric Theory, 15, 814-823.
  • Bayar, Y., & Yener, B. (2019). Political stability and tourism sector development in Mediterranean countries: a panel cointegration and causality analysis. European Journal of Tourism Research, 21, 23–32. https://doi.org/10.54055/ejtr.v21i.356
  • Bayrakcı, S., & Ozcan, C. C. (2021). The socio-cultural determinants of tourism: The case of Turkey. Journal of Hospitality and Tourism Insights. https://doi.org/10.1108/JHTI-05-2021-0125.
  • Bhargava, A., Franzni L., & Narendranathan W. (1982). Serial Correlation and Fixed Effect Models. the Review of Economic Studies, 49, 553-549.
  • Breusch, T., & Pagan, A. (1980). The Lagrange multiplier test and its application to model specification in econometrics. Rev. Econ. Stud., 47, 239–253.
  • Crouch, G.I. (1995). A meta-analysis of tourism demand. Annals of Tourism Research, 22(1), 103-118.
  • DeBenedictis, L., & Giles, D. E. A. (1998). Diagnostic testing in econometrics: variable addition, RESET, and Fourier approximations. In A. Ullah, & D. E. A. Giles (Eds.), Handbook of Applied Economic Statistics (pp. 383-417). New York.
  • Del P. Pablo-Romero, M., & Molina, J. A. (2013). Tourism and economic growth: A review of empirical literature. Tourism Management Perspectives, 8, 28–41. https://doi.org/10.1016/J.TMP.2013.05.006
  • Divisekera, S. (2003). A model of demand for international tourism. Annals of Tourism Research, 30(1), 31-49.
  • Dogru, T. Sirakaya-Turk, E. & Crouch, G.I. (2017). Remodeling international tourism demand: Old theory and new evidence. Tourism Management, 60, 47-55.
  • Driscoll J. C., & Kraay A. C. (1998). Consistent covariance matrix estimation with spatially dependent panel data. Review of Economics and Statistics, 80, 549-560.
  • Fernandes, C., & Karnik, A.V. (2010) Estimating elasticity of demand for tourism in Dubai. Tourism Analysis, 15(1), 57-69.
  • Ghaderi, Z., Saboor, B., & Khoshkam, M. (2017). Does security matter in tourism demand?. Current Issues in Tourism, 20(6), 552-565.
  • Hai, A., & Chik, A. R. (2011). Political stability: Country image for tourism industry in Bangladesh. Proceeding of the International Conference on Social Science, Economics and Art 2011, Malaysia. https://www.researchgate.net/publication/251442697
  • Hall, C.M., Timothy, D.J., & Duval, D.T. (2004). Security and tourism. Journal of Travel & Tourism Marketing, 15(2-3), 1-18.
  • Han, Z. Durbarry, R., & Sinclair M.T. (2006). Modeling US tourism demand for European destinations. Tourism Management, 27(1), 1-10.
  • Henderson, J.C. (2003). Terrorism and tourism. Journal of Travel & Tourism Marketing, 15(1), 41-58.
  • Imamoglu, H., Gunay, T., & Odugbesan, J.A. (2022). The effect of urbanization and industrialization on tourism revenues: The case of Turkey. Journal of Tourism and Gastronomy Studies, 10(3), 1992-2005.
  • IMF (2022). World Economic Outlook (April 2022) - Real GDP growth. (n.d.). Retrieved August 18, 2022, from https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/WEOWORLD
  • Kaufmann, D., Kraay, A., & Mastruzzi, M. (2010). The Worldwide Governance Indicators: Methodology and Analytical Issues. World Bank Policy Research Working Paper No. 5430 (http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1682130)
  • Khoshnevis Yazdi, S., & Khanalizadeh B. (2017). Tourism demand: A panel data approach. Current Issues in Tourism, 20(8), 787-800.
  • Krajňák, T. (2021). The effects of terrorism on tourism demand: A systematic review. Tourism Economics, 27(8), 1736–1758.
  • Larisa Bunghez, C. (2016). The importance of tourism to a destination’s economy. Journal of Eastern Europe Research in Business & Economics, 2016. https://doi.org/10.5171/2016.143495
  • Li, X. (2012). Examining the ‘relative image’ of tourism destinations: A case study. Current Issues in Tourism, 15(8), 741–757. https://doi.org/10.1080/13683500.2011.629721
  • Lv, Z., & Xu, T. (2017). A panel data quantile regression analysis of the impact of corruption on tourism. Current Issues in Tourism, 20(6), 603-616.
  • Machado, J. A.F., & Silva, J.M.C., (2019). Quantiles via moments. Journal of Econometrics, 213(1), 145-173.
  • Martins, L. F., Gan, Y., & Ferreira-Lopes, A. (2017). An empirical analysis of the influence of macroeconomic determinants on World tourism demand. Tourism Management, 61, 248–260. https://doi.org/10.1016/J.TOURMAN.2017.01.008
  • Morley, C.L. (1994). The use of CPI for tourism prices in demand modeling. Tourism Management, 15(5), 342-346.
  • Nadal, J.R., & Gallego, M.S. (2022). Gravity models for tourism demand modeling: Empirical review and outlook. Journal of Economic Surveys, 36(5), 1358-1409. https://doi.org/10.1111/joes.12502
  • Naudé, W. A., & Saayman, A. (2005). Determinants of tourist arrivals in Africa: A panel data regression analysis. Tourism Economics, 11(3), 365–391.
  • Oh, C.O., & Ditton, R.B. (2005). An evaluation of price measures in tourism demand models. Tourism Analysis, 10(3), 257-268.
  • Ozcan, C. C., & Ozmen, I. (2016). Terör ve turizm ilişkisinin karşilaştirmali bir analizi: AB ve Mena örneği. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 9(4), 69-83.
  • Pascariu, G. C., & Ibănescu, B.-C. (2018). Determinants and implications of the tourism multiplier effect in EU economies. Towards a core-periphery pattern?. Amfiteatru Economic, 20(12), 982-997. https://doi.org/10.24818/EA/2018/S12/982
  • Peng, B., Song, H., & Crouch, G. I. (2014). A meta-analysis of international tourism demand forecasting and implications for practice. Tourism Management, 45, 181–193. https://doi.org/10.1016/J.TOURMAN.2014.04.005
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of applied econometrics, 22(2), 265-312.
  • Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). A bias‐adjusted LM test of error cross‐section independence. The Econometrics Journal, 11(1), 105-127.
  • Rita, P. (2000). Tourism in the European Union. International Journal of Contemporary Hospitality Management, 12(7), 434-436. https://doi.org/10.1108/09596110010347374
  • Saha, S., & Yap, G. (2014). The moderation effects of political instability and terrorism on tourism development: A cross-country panel analysis. Journal of Travel Research, 53(4), 509-521.
  • Salinas Fernández, J. A., Guaita Martínez, J. M., & Martín Martín, J. M. (2022). An analysis of the competitiveness of the tourism industry in a context of economic recovery following the COVID19 pandemic. Technological Forecasting and Social Change, 174, 121301. https://doi.org/10.1016/J.TECHFORE.2021.121301
  • Salman A.K., Shukur G., & von Bergmann-Winberg M.-L. (2007). Comparison of econometric modeling of demand for domestic and international tourism: Swedish data. Current Issues in Tourism, 10(2007), 323-342.
  • Sarin, V., & Kaur, H. (2016). Causality relationship between GDP, FDI, tourism: Empirical evidence from India. International Journal of Applied Business and Economic Research, 14(5), 247–255.
  • Seetaram, N., Forsyth, P., & Dwyer, L. (2016). Measuring price elasticities of demand for outbound tourism using competitiveness indices. Annals of Tourism Research, 56, 65-79.
  • Sharif Karimi, M., Ahmad Khan, A., & Karamelikli, H. (2018). Asymmetric effects of real exchange rate on inbound tourist arrivals in Malaysia: An analysis of price rigidity. International Journal of Tourism Research, 21(2), 156-164. https://doi.org/10.1002/jtr.2249
  • Sonmez, S.F. & Graefe, A.R. (1998). Influence of terrorism risk on foreign tourism decisions. Annals of Tourism Research, 25(1), 112-144.
  • Sun, Y. Y., Li, M., Lenzen, M., Malik, A., & Pomponi, F. (2022). Tourism, job vulnerability and income inequality during the COVID-19 pandemic: A global perspective. Annals of Tourism Research Empirical Insights, 3(1), 100046. https://doi.org/10.1016/J.ANNALE.2022.100046
  • Tavares, J. M., & Leitão, N. C. (2017). The determinants of international tourism demand for Brazil. Tourism Economics, 23(4), 834–845.
  • UNWTO (2022a). 2020: Worst Year in Tourism History with 1 Billion Fewer International Arrivals. (n.d.). Retrieved August 18, 2022, from https://www.unwto.org/news/2020-worst-year-in-tourism-history-with-1-billion-fewer-international-arrivals
  • UNWTO (2022b). Tourism Recovery Gains Momentum as Restrictions Ease and Confidence Returns. (n.d.). Retrieved August 18, 2022, from https://www.unwto.org/news/tourism-recovery-gains-momentum-as-restrictions-ease-and-confidence-returns
  • Uysal, M., & Crompton, J.L. (1984). Determinants of demand for international tourist flows to Turkey. Tourism Management, 5(4), 288-297.
  • Wamboye, E. F., Nyaronga, P. J., & Sergi, B. S. (2020). What are the determinant of international tourism in Tanzania?. World Development Perspectives, 17, 100175. https://doi.org/10.1016/J.WDP.2020.100175
  • WEF (2022). COVID-19 pandemic: When will the travel sector recover? | World Economic Forum. (n.d.). Retrieved August 18, 2022, from https://www.weforum.org/agenda/2022/01/global-travel-tourism-pandemic-covid-19/
  • WHO (2022). Coronavirus disease (COVID-19) pandemic. (n.d.). Retrieved September 17, 2022, from https://www.who.int/europe/emergencies/situations/covid-19
  • Wildman, J. (2021). COVID-19 and income inequality in OECD countries. The European Journal of Health Economics, 22, 455–462. https://doi.org/10.1007/s10198-021-01266-4
  • Witt, S. F., & Martin, C. A. (1987). Econometric models for forecasting international tourism demand. Journal of Travel Research, 25 (Winter), 23-30.
  • Witt, S.F., & Witt, C.A. (1995). Forecasting tourism demand: A review of empirical research. International Journal of Forecasting, 11, 447-475
  • WTTC (2021). World travel and tourism council world - economic impact 2021. Global Economic Impact & Trends 2021, 1–2. https://wttc.org/Portals/0/Documents/EIR/EIR2021 Global Infographic.pdf?ver=2021-04-06-170951-897
  • Yerdelen Tatoglu, F., & Gul, H. (2020). Analysis of tourism demand using a multi-dimensional panel gravity model. Tourism Review, 75(2), 433–447. https://doi.org/10.1108/TR-05-2019-0147
  • World Bank Metadata Glossary, Real effective exchange rate index. Retrieved September 17, 2022, from https://databank.worldbank.org/metadataglossary/world-development-indicators/series/PX.REX.REER
  • World Bank Metadata Glossary, Political Stability and Absence of Violence/Terrorism: Percentile, Rank. Retrieved September 17, 2022, from https://databank.worldbank.org/metadataglossary/worldwide-governance-indicators/series/PV.PER.RNK
  • World Bank Metadata Glossary, Gross Domestic Product (GDP). Retrieved September 17, 2022, from https://databank.worldbank.org/reports.aspx?source=2&type=metadata&series=NY.GDP.MKTP.CD

The Effect of Price and Security on Tourism Demand: Panel Quantile Regression Approach

Year 2023, Volume: 11 Issue: 2, 256 - 276, 01.06.2023
https://doi.org/10.30519/ahtr.1204246

Abstract

It is of great importance for countries to increase the contribution of the tourism sector to the economy. Therefore, the authorities focus on how to increase the demand for tourism. However, the most important issue is to define the factors that influence the demand for tourism in a complex environment and this study attempts to contribute to this field. Specifically, the study examines the effects of REER (Real Effective Exchange Rate) and security conditions on tourism demand using panel data methods for 73 countries, in the tourism ranking list from UNWTO reports, over the period 2003-2018. The main results of this study show that while the effect of REER on tourism demand is negative, the security condition has a positive effect on the demand for the tourism sector. In addition to these findings which confirm the existing literature, the innovative character of the methodology – fixed-effect panel quantile regression analysis - allowed us to check whether the effects of these variables may vary in different percentiles of tourism demand. Estimation result reveals that the effect of change in REER on tourism demand increases in high percentiles. Nevertheless, the effect of the security on tourism demand decreases as percentiles increase.

References

  • Abdou, M., Musabanganji, E., & Musahera, H. (2022). Determinants of tourism demand using machine learning techniques. African Journal of Hospitality, Tourism and Leisure, 11(2), 770–780. https://doi.org/10.46222/ajhtl.19770720.256
  • Baiburiev, R., David, L., Abdreyeva, S., Zhakupova, A., & Artemyev, A. (2018). Impacts of tourism activities on economy of Kazakhstan. Geojournal of Tourism and Geosites, 22(2), 480–488. https://doi.org/10.30892/GTG.22217-304
  • Balcilar, M., Aghazadeh, S., & Ike, G. N. (2021). Modeling the employment, income and price elasticities of outbound tourism demand in OECD countries. Tourism Economics, 27(5), 971–990.
  • Baltagi, B. H., & Wu, P. X. (1999). Unequally spaced panel data regressions with AR(1) disturbances. Econometric Theory, 15, 814-823.
  • Bayar, Y., & Yener, B. (2019). Political stability and tourism sector development in Mediterranean countries: a panel cointegration and causality analysis. European Journal of Tourism Research, 21, 23–32. https://doi.org/10.54055/ejtr.v21i.356
  • Bayrakcı, S., & Ozcan, C. C. (2021). The socio-cultural determinants of tourism: The case of Turkey. Journal of Hospitality and Tourism Insights. https://doi.org/10.1108/JHTI-05-2021-0125.
  • Bhargava, A., Franzni L., & Narendranathan W. (1982). Serial Correlation and Fixed Effect Models. the Review of Economic Studies, 49, 553-549.
  • Breusch, T., & Pagan, A. (1980). The Lagrange multiplier test and its application to model specification in econometrics. Rev. Econ. Stud., 47, 239–253.
  • Crouch, G.I. (1995). A meta-analysis of tourism demand. Annals of Tourism Research, 22(1), 103-118.
  • DeBenedictis, L., & Giles, D. E. A. (1998). Diagnostic testing in econometrics: variable addition, RESET, and Fourier approximations. In A. Ullah, & D. E. A. Giles (Eds.), Handbook of Applied Economic Statistics (pp. 383-417). New York.
  • Del P. Pablo-Romero, M., & Molina, J. A. (2013). Tourism and economic growth: A review of empirical literature. Tourism Management Perspectives, 8, 28–41. https://doi.org/10.1016/J.TMP.2013.05.006
  • Divisekera, S. (2003). A model of demand for international tourism. Annals of Tourism Research, 30(1), 31-49.
  • Dogru, T. Sirakaya-Turk, E. & Crouch, G.I. (2017). Remodeling international tourism demand: Old theory and new evidence. Tourism Management, 60, 47-55.
  • Driscoll J. C., & Kraay A. C. (1998). Consistent covariance matrix estimation with spatially dependent panel data. Review of Economics and Statistics, 80, 549-560.
  • Fernandes, C., & Karnik, A.V. (2010) Estimating elasticity of demand for tourism in Dubai. Tourism Analysis, 15(1), 57-69.
  • Ghaderi, Z., Saboor, B., & Khoshkam, M. (2017). Does security matter in tourism demand?. Current Issues in Tourism, 20(6), 552-565.
  • Hai, A., & Chik, A. R. (2011). Political stability: Country image for tourism industry in Bangladesh. Proceeding of the International Conference on Social Science, Economics and Art 2011, Malaysia. https://www.researchgate.net/publication/251442697
  • Hall, C.M., Timothy, D.J., & Duval, D.T. (2004). Security and tourism. Journal of Travel & Tourism Marketing, 15(2-3), 1-18.
  • Han, Z. Durbarry, R., & Sinclair M.T. (2006). Modeling US tourism demand for European destinations. Tourism Management, 27(1), 1-10.
  • Henderson, J.C. (2003). Terrorism and tourism. Journal of Travel & Tourism Marketing, 15(1), 41-58.
  • Imamoglu, H., Gunay, T., & Odugbesan, J.A. (2022). The effect of urbanization and industrialization on tourism revenues: The case of Turkey. Journal of Tourism and Gastronomy Studies, 10(3), 1992-2005.
  • IMF (2022). World Economic Outlook (April 2022) - Real GDP growth. (n.d.). Retrieved August 18, 2022, from https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/WEOWORLD
  • Kaufmann, D., Kraay, A., & Mastruzzi, M. (2010). The Worldwide Governance Indicators: Methodology and Analytical Issues. World Bank Policy Research Working Paper No. 5430 (http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1682130)
  • Khoshnevis Yazdi, S., & Khanalizadeh B. (2017). Tourism demand: A panel data approach. Current Issues in Tourism, 20(8), 787-800.
  • Krajňák, T. (2021). The effects of terrorism on tourism demand: A systematic review. Tourism Economics, 27(8), 1736–1758.
  • Larisa Bunghez, C. (2016). The importance of tourism to a destination’s economy. Journal of Eastern Europe Research in Business & Economics, 2016. https://doi.org/10.5171/2016.143495
  • Li, X. (2012). Examining the ‘relative image’ of tourism destinations: A case study. Current Issues in Tourism, 15(8), 741–757. https://doi.org/10.1080/13683500.2011.629721
  • Lv, Z., & Xu, T. (2017). A panel data quantile regression analysis of the impact of corruption on tourism. Current Issues in Tourism, 20(6), 603-616.
  • Machado, J. A.F., & Silva, J.M.C., (2019). Quantiles via moments. Journal of Econometrics, 213(1), 145-173.
  • Martins, L. F., Gan, Y., & Ferreira-Lopes, A. (2017). An empirical analysis of the influence of macroeconomic determinants on World tourism demand. Tourism Management, 61, 248–260. https://doi.org/10.1016/J.TOURMAN.2017.01.008
  • Morley, C.L. (1994). The use of CPI for tourism prices in demand modeling. Tourism Management, 15(5), 342-346.
  • Nadal, J.R., & Gallego, M.S. (2022). Gravity models for tourism demand modeling: Empirical review and outlook. Journal of Economic Surveys, 36(5), 1358-1409. https://doi.org/10.1111/joes.12502
  • Naudé, W. A., & Saayman, A. (2005). Determinants of tourist arrivals in Africa: A panel data regression analysis. Tourism Economics, 11(3), 365–391.
  • Oh, C.O., & Ditton, R.B. (2005). An evaluation of price measures in tourism demand models. Tourism Analysis, 10(3), 257-268.
  • Ozcan, C. C., & Ozmen, I. (2016). Terör ve turizm ilişkisinin karşilaştirmali bir analizi: AB ve Mena örneği. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 9(4), 69-83.
  • Pascariu, G. C., & Ibănescu, B.-C. (2018). Determinants and implications of the tourism multiplier effect in EU economies. Towards a core-periphery pattern?. Amfiteatru Economic, 20(12), 982-997. https://doi.org/10.24818/EA/2018/S12/982
  • Peng, B., Song, H., & Crouch, G. I. (2014). A meta-analysis of international tourism demand forecasting and implications for practice. Tourism Management, 45, 181–193. https://doi.org/10.1016/J.TOURMAN.2014.04.005
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of applied econometrics, 22(2), 265-312.
  • Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). A bias‐adjusted LM test of error cross‐section independence. The Econometrics Journal, 11(1), 105-127.
  • Rita, P. (2000). Tourism in the European Union. International Journal of Contemporary Hospitality Management, 12(7), 434-436. https://doi.org/10.1108/09596110010347374
  • Saha, S., & Yap, G. (2014). The moderation effects of political instability and terrorism on tourism development: A cross-country panel analysis. Journal of Travel Research, 53(4), 509-521.
  • Salinas Fernández, J. A., Guaita Martínez, J. M., & Martín Martín, J. M. (2022). An analysis of the competitiveness of the tourism industry in a context of economic recovery following the COVID19 pandemic. Technological Forecasting and Social Change, 174, 121301. https://doi.org/10.1016/J.TECHFORE.2021.121301
  • Salman A.K., Shukur G., & von Bergmann-Winberg M.-L. (2007). Comparison of econometric modeling of demand for domestic and international tourism: Swedish data. Current Issues in Tourism, 10(2007), 323-342.
  • Sarin, V., & Kaur, H. (2016). Causality relationship between GDP, FDI, tourism: Empirical evidence from India. International Journal of Applied Business and Economic Research, 14(5), 247–255.
  • Seetaram, N., Forsyth, P., & Dwyer, L. (2016). Measuring price elasticities of demand for outbound tourism using competitiveness indices. Annals of Tourism Research, 56, 65-79.
  • Sharif Karimi, M., Ahmad Khan, A., & Karamelikli, H. (2018). Asymmetric effects of real exchange rate on inbound tourist arrivals in Malaysia: An analysis of price rigidity. International Journal of Tourism Research, 21(2), 156-164. https://doi.org/10.1002/jtr.2249
  • Sonmez, S.F. & Graefe, A.R. (1998). Influence of terrorism risk on foreign tourism decisions. Annals of Tourism Research, 25(1), 112-144.
  • Sun, Y. Y., Li, M., Lenzen, M., Malik, A., & Pomponi, F. (2022). Tourism, job vulnerability and income inequality during the COVID-19 pandemic: A global perspective. Annals of Tourism Research Empirical Insights, 3(1), 100046. https://doi.org/10.1016/J.ANNALE.2022.100046
  • Tavares, J. M., & Leitão, N. C. (2017). The determinants of international tourism demand for Brazil. Tourism Economics, 23(4), 834–845.
  • UNWTO (2022a). 2020: Worst Year in Tourism History with 1 Billion Fewer International Arrivals. (n.d.). Retrieved August 18, 2022, from https://www.unwto.org/news/2020-worst-year-in-tourism-history-with-1-billion-fewer-international-arrivals
  • UNWTO (2022b). Tourism Recovery Gains Momentum as Restrictions Ease and Confidence Returns. (n.d.). Retrieved August 18, 2022, from https://www.unwto.org/news/tourism-recovery-gains-momentum-as-restrictions-ease-and-confidence-returns
  • Uysal, M., & Crompton, J.L. (1984). Determinants of demand for international tourist flows to Turkey. Tourism Management, 5(4), 288-297.
  • Wamboye, E. F., Nyaronga, P. J., & Sergi, B. S. (2020). What are the determinant of international tourism in Tanzania?. World Development Perspectives, 17, 100175. https://doi.org/10.1016/J.WDP.2020.100175
  • WEF (2022). COVID-19 pandemic: When will the travel sector recover? | World Economic Forum. (n.d.). Retrieved August 18, 2022, from https://www.weforum.org/agenda/2022/01/global-travel-tourism-pandemic-covid-19/
  • WHO (2022). Coronavirus disease (COVID-19) pandemic. (n.d.). Retrieved September 17, 2022, from https://www.who.int/europe/emergencies/situations/covid-19
  • Wildman, J. (2021). COVID-19 and income inequality in OECD countries. The European Journal of Health Economics, 22, 455–462. https://doi.org/10.1007/s10198-021-01266-4
  • Witt, S. F., & Martin, C. A. (1987). Econometric models for forecasting international tourism demand. Journal of Travel Research, 25 (Winter), 23-30.
  • Witt, S.F., & Witt, C.A. (1995). Forecasting tourism demand: A review of empirical research. International Journal of Forecasting, 11, 447-475
  • WTTC (2021). World travel and tourism council world - economic impact 2021. Global Economic Impact & Trends 2021, 1–2. https://wttc.org/Portals/0/Documents/EIR/EIR2021 Global Infographic.pdf?ver=2021-04-06-170951-897
  • Yerdelen Tatoglu, F., & Gul, H. (2020). Analysis of tourism demand using a multi-dimensional panel gravity model. Tourism Review, 75(2), 433–447. https://doi.org/10.1108/TR-05-2019-0147
  • World Bank Metadata Glossary, Real effective exchange rate index. Retrieved September 17, 2022, from https://databank.worldbank.org/metadataglossary/world-development-indicators/series/PX.REX.REER
  • World Bank Metadata Glossary, Political Stability and Absence of Violence/Terrorism: Percentile, Rank. Retrieved September 17, 2022, from https://databank.worldbank.org/metadataglossary/worldwide-governance-indicators/series/PV.PER.RNK
  • World Bank Metadata Glossary, Gross Domestic Product (GDP). Retrieved September 17, 2022, from https://databank.worldbank.org/reports.aspx?source=2&type=metadata&series=NY.GDP.MKTP.CD
There are 63 citations in total.

Details

Primary Language English
Subjects Tourism (Other)
Journal Section Research Article
Authors

M. Koray Çetin 0000-0002-0363-2973

M. Serhan Sekreter 0000-0001-8316-5756

Mehmet Mert 0000-0003-1406-4075

Early Pub Date May 2, 2023
Publication Date June 1, 2023
Submission Date November 14, 2022
Published in Issue Year 2023 Volume: 11 Issue: 2

Cite

APA Çetin, M. K., Sekreter, M. S., & Mert, M. (2023). The Effect of Price and Security on Tourism Demand: Panel Quantile Regression Approach. Advances in Hospitality and Tourism Research (AHTR), 11(2), 256-276. https://doi.org/10.30519/ahtr.1204246


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