Outbound Business Travel Depends on Business Returns: Australian Evidence

Darrian Collins and Clement Tisdell

Australian Economic Papers, 2004, vol. 43, issue 2, 192-207

Abstract: In an earlier note, Collins and Tisdell (2002b) explored the possibility of a long‐run relationship between Australian business returns and international business travel. Using annual data they found that such a relationship exists. The purpose of this study is to further examine this relationship using quarterly data for the time frame 1974:1 to 1999:4. In addition, previous studies on international business travel have offered some but not strong evidence for the existence of a positive relationship between the level of international business travel and real GDP of the origin country. This study suggests that the aggregate return on business investments is a better predictor of international business travel than GDP. The Engle‐Granger and Johansen's maximum‐likelihood cointegration procedures are used to show a long‐term relationship exists between Australian outbound business travel and Australian business returns, but not with Real Australian GDP. Reasons for this relationship are discussed.

Date: 2004
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https://doi.org/10.1111/j.1467-8454.2004.00224.x

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