A dynamic model of demand for Mediterranean tourism
- 1 January 1995
- journal article
- research article
- Published by Taylor & Francis Ltd in International Review of Applied Economics
- Vol. 9 (3), 318-336
- https://doi.org/10.1080/758537633
Abstract
A dynamic econometric model was specified in order to estimate tourism consumption changes by Northern European countries and the USA for major Mediterranean destinations. The model employed a flexible framework for modelling short-term dynamics as well as the long run effects of a range of variables of specific interest to the countries considered. The estimated model provided useful information for tourism demand. The income elasticities demonstrated considerable differences in tourism demand preferences between origin countries and between traditional and newly developing destinations. The own and substitute price elasticities indicated the importance of effective prices in determining tourism receipts of the destinations.Keywords
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