ARMAX modelling of international tourism demand

ARMAX modelling of international tourism demand

ARMAX Modelling of International Tourism Demand

One of the basic goals of tourism demand modelling is to estimate income and/or price elasticities, which can then be used in developing better informed public and private policies. The focus of econometric studies is to determine the extent to which the data support a particular theory. In reviews of empirical studies on international tourism demand and its determinants, Lim (1999, 2006) argue...

Modelling Conditional Correlations in International Tourism Demand

International tourism demand, or tourist arrivals, to Australia has recently experienced dramatic fluctuations due to changes in the economic, financial and political environment. However, variations in tourism demand, specifically the conditional variance, or volatility, have not previously been investigated. An analysis of such volatility is essential for investigating the effects of shocks i...

Modelling sustainable international tourism demand to the Brazilian Amazon

The Amazon rainforest is one of the world’s greatest natural wonders and holds great importance and significance for the world’s environmental balance. Around 60% of the Amazon rainforest is located in the Brazilian territory. The two biggest states of the Amazon region are Amazonas (the upper Amazon) and Pará (the lower Amazon), which together account for around 73% of the Brazilian Legal Amaz...

Volatility in International Tourism Demand for Small Island Tourism Economies

Volatility in monthly international tourist arrivals is defined as the squared deviation from mean monthly international tourist arrivals. Consequently, volatility is directly related to the standard deviation, which is a common measure of financial risk. Fluctuating variations, or conditional volatility, in international monthly tourist arrivals are typically associated with unanticipated even...