Comovement amongst the demand for New Zealand tourism

Puneet Vatsa

Annals of Tourism Research, 2020, vol. 83, issue C

Abstract: Tourism research is replete with applications of univariate time-series decomposition techniques: multivariate frameworks have been largely ignored. In this paper, we employ a common-feature-based, multivariate trend-cycle decomposition approach to examine common trends and common cycles amongst the demand for New Zealand tourism originating in Australia, China, the US, the UK, as well as other tourism-importing countries considered as one group: Others. Upon isolating trends and cycles in tourism demand from these countries, we find evidence of strong long-term comovement: they share one common trend. We also find evidence of short-term comovement, albeit to a lesser extent: four common cycles emerge; the cyclical patterns in tourism demand from Australia, China, the US, and Others are strongly correlated.

Keywords: Tourism; New Zealand; Common trends and common cycles; Multivariate time-series (search for similar items in EconPapers)
JEL-codes: C32 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:anture:v:83:y:2020:i:c:s0160738320301092

DOI: 10.1016/j.annals.2020.102965

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