| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5108657 | Tourism Management | 2017 | 9 Pages |
Abstract
The purpose of this study is to advance the tourism demand theory by excluding simultaneous effects of exchange rates and prices in empirical models, formulating an alternative pricing modus operandi consistent with recent research in the area, and demonstrating the efficacy of the use of an industrial production index (IPI) as a proxy for income. A panel fully modified ordinary least squares (FMOLS) method is employed to estimate the inbound tourism demand for Turkey. Study findings suggest that the inclusion of exchange rates and prices, as mutually exclusive components, can be misleading; the IPI is not a good proxy for income; and country-specific coefficients need to be analyzed to accurately explain determinants of tourism demand for countries in the panel.
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Strategy and Management
Authors
Tarik Dogru, Ercan Sirakaya-Turk, Geoffrey I. Crouch,