The Relationship between Macroeconomic Factors and Tourism Demand for OIC Countries

Shaidathul Jemin ()
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Shaidathul Jemin: Faculty of Hotel and Tourism Management, Universiti Teknologi Mara Author-2-Name: Saizal Pinjaman Author-2-Workplace-Name: "Centre for Economic Development and Policy, Universiti Malaysia Sabah " Author-3-Name: Abdul Rahim Ridzuan Author-3-Workplace-Name: "Faculty of Business and Management, Universiti Teknologi Mara " Author-4-Name: Suddin Lada Author-4-Workplace-Name: "Faculty of Business, Economics and Accountancy, Universiti Malaysia Sabah " Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:

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Abstract: " Objective - The current paper investigates the relationship between macroeconomic factors and tourism demand for OIC countries. Methodology - The current paper employed the panel quantile regression analysis to assess the relationship. Findings - It is demonstrated that the impact of macroeconomic factors on tourism receipts is heterogeneous depending on the levels of tourism spending in the OIC host countries. The exchange rate and income exhibit a positive relationship with tourism demand. Meanwhile, inflation presents a negative relationship towards tourism demand at the lower level of tourism demand yet is positively related to the higher level. On the other hand, trade openness is negatively related to tourism receipts in general, and the strength of the relationship decreases at a higher level of demand. Novelty - Compared to previous studies, the impact of the macroeconomic factors was assessed across different levels of tourism demand. Type of Paper - Empirical"

Keywords: Tourism Demand; Macroeconomic Factors; OIC countries; Quantile Regression (search for similar items in EconPapers)
JEL-codes: L83 O10 Z32 (search for similar items in EconPapers)
Pages: 9
Date: 2023-09-30
New Economics Papers: this item is included in nep-sea and nep-tur
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Citations: View citations in EconPapers (1)

Published in Journal of Business and Economics Review, Volume 8, Issue2

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Persistent link: https://EconPapers.repec.org/RePEc:gtr:gatrjs:jber238

DOI: 10.35609/jber.2023.8.2(2)

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