International Tourist Arrivals by Region of Origin and Tourism Receipts: a Panel Data Analysis

Abstract

International Tourist Arrivals by Region of Origin and Tourism Receipts: a Panel Data Analysis

Abstract

Many factors affect the number of foreign tourists and the international tourism receipts. Increased foreign exchange earnings from hotels, restaurants and tourism-related groups such as tourist guiding, increased employment, increased access to foreign direct investment, revenues from under-exploited natural resources and possibilities for differential taxation of tourists, increased GDP are examples of tourism revenues. The positive impact of international tourism receipts on economic growth is an important issue in all countries, especially developing countries. In this paper, we outline the number of visitors received from the highest spender countries, along with other variables that discussed by the previous studies. We applied panel data regression analysis method for panel dataset belongs to top 10 countries in terms of international tourism receipts. Based on the findings of the Driscoll-Kraay estimator model, the number of international arrivals from top spender countries has positive affect on tourism receipts and it is five times higher than the effect of the total number of international arrivals.

Keywords

• International Tourism Receipts, International Tourist Arrivals, Top Spenders, Inbound Tourism, Panel Data Analysis

References

1. Lanfant, Marie-Françoise, John B. Allcock, and Edward M. Bruner (1995). International tourism: Identity and change. Vol. 48. Sage.
2. Lanquar, Robert. (2011). Tourism in the Mediterranean: Scenarios up to 2030. MEDPRO Report.
3. Levin, A., Lin, C.F. and Chu, C. (2002). “Unit Root Tests in Panel Data: Asymptotic and Finite- Sample Properties”, Journal of Econometrics, 108, 1-24.
4. OECD Tourism Papers (2013). Green Innovation in Tourism Services.
5. Park, Hun Myoung (2011). Practical Guide to Panel Data Modeling: A Step by Step Analysis Using STATA, Public Management and Policy Analysis Program. Graduate School of International Relations, International University of Japan.
6. Saray, M. Ozan and Kadir Karagoz (2010). “Determinants of Tourist Inflows in Turkey: Evidence from Panel Gravity Model”, ZKU Journal of Social Sciences, 6(11), 33-46.
7. Stynes, Daniel J. (1999). Economic Impacts of Tourism in Michigan’s Upper Peninsula. Prentice Hall: Michigan.
8. UNWTO, (2015). World Tourism Organization (UNWTO). Tourism Highlights.

9. WTTC, (2005). World Travel & Tourism Council (WTTC) (2005). Travel & Tourism Economic Impact.