Determinants of Tourism Demand in Spain: A European Perspective from 2000–2020

Susana Borrego-Domínguez, Fernando Isla-Castillo and Mercedes Rodríguez-Fernández ()
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Susana Borrego-Domínguez: Department of Economics and Business Administration, Universidad de Málaga, 29071 Málaga, Spain
Fernando Isla-Castillo: Department of Statistics, Universidad de Málaga, 29071 Málaga, Spain
Mercedes Rodríguez-Fernández: Department of Economics and Business Administration, Universidad de Málaga, 29071 Málaga, Spain

Economies, 2022, vol. 10, issue 11, 1-21

Abstract: This empirical study evaluates European tourism demand in Spain from 2000 to 2020. To test the hypotheses, we have modelled tourism demand, which is measured in terms of travellers arriving in Spain. An Error Correction Model adapted to a panel structure has been utilised to work within a time series context and differentiate up to 14 European countries of origin. The findings denote that over the short and the long term, gross domestic product (GDP) and the number of beds positively relate to tourism demand. Still, the stock market indices are not significant in both terms. The price index, trade flows, and length of stay differ in the short and the long term. Results of this study call the attention of policy makers and the private sector to encourage an increase in the supply of available beds to ensure post-pandemic sustainability.

Keywords: Europe; tourism demand; supply of beds; GDP; stock market indices; panel data (search for similar items in EconPapers)
JEL-codes: E F I J O Q (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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