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| Author: | Garin-Munoz, T. |
| Title: | Inbound international tourism to Canary Islands: a dynamic panel data model |
| Journal: | Tourism Management
2006 : APR, VOL. 27:2, p. 281-291 |
| Index terms: | tourist industry tourism models Spain |
| Language: | eng |
| Abstract: | This paper presents a dynamic model of international tourism demand to Canary Islands of Spain. The empirical analysis exploits the panel structure of the dataset for the 15 most important countries of origin of tourists over the period 1992-2002 by a Generalized Method of Moments (GMM) estimation of a dynamic model taking into account unobserved country-specific effects. In addition to the preferred GMM-DIFF model by Arellano and Bond, also other models are shown for comparison. In brief, the results suggests that tourism demand to Canary Islands must be considered as a luxury good and is highly dependent on the evolution of relative prices and cost of travel btw. origin and destination country. |
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