Implications of Oil Price Fluctuations for Tourism Receipts: The Case of Oil Exporting Countries

Siamand Hesami (), Bezhan Rustamov, Husam Rjoub and Wing-Keung Wong
Additional contact information
Bezhan Rustamov: Department of Banking and Finance, Faculty of Business and Economics, Rauf Denktas University, Lefkosa 139149, Turkey

Energies, 2020, vol. 13, issue 17, 1-17

Abstract: This study investigates the influence of oil prices on tourism income in countries that heavily relied on crude oil exports from 2000 to 2017. We found that oil prices and tourism receipts are cointegrated, revealing the existence of their long-run equilibrium relationship. Another significant finding to emerge from this study is the presence of a unidirectional Granger causality that runs from the oil prices to the tourism receipts. The results of the current study are of particular importance for policymakers who operate in oil-exporting countries. The implications provide a systematic understanding of the effect of oil price fluctuations on tourism income which can benefit investors greatly by enabling them to hedge against oil price fluctuations and plan for their tourism business and policymakers by enabling them to set policies to stabilize oil price fluctuations and plan for tourism development, correspondingly.

Keywords: oil price; tourism income; causality; SYS-GMM; MENA countries (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://www.mdpi.com/1996-1073/13/17/4349/pdf (application/pdf)
https://www.mdpi.com/1996-1073/13/17/4349/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:13:y:2020:i:17:p:4349-:d:402751

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().