search query: @freeterm elasticities / total: 5
reference: 3 / 5
| Author: | Vanegas, M. Sr. |
| Title: | Tourism demand response by residents of Latin American countries |
| Journal: | International Journal of Tourism Research
2009 : JAN/FEB, VOL. 11:1, p. 17-29 |
| Index terms: | tourist industry tourism demand models policy developing countries Latin America |
| Freeterms: | elasticities |
| Language: | eng |
| Abstract: | In order to develop international tourism demand models by residents from Argentina, Brazil, Colombia and Venezuela to Aruba, this paper used a general-to-specific methodology. It is aimed at i. evaluating demand parameters, especially elasticity values, disaggregated on a country-to-country basis, and ii. learning more about the structure and important variables, examining the process of adjustment. There is found evidence that, in the short run, developing countries' residents respond rationally and substantially to economic stimulus. The short-run income elasticity varies from the low of 1.52 for Venezuela to the high of 2.34 for Argentina. It is indicated that Aruba will benefit differently from income increases in these four Latin American countries. The coefficients of the price variable had the expected negative signs, inelastic in the short-run for all countries but significant at the 5 percent level for Venezuela only. |
SCIMA