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The Fundamental Equation in Tourism Finance

Michael McAleer

Journal of Risk and Financial Management, 2015, vol. 8, issue 4, 1-6

Abstract: The purpose of the paper is to present the fundamental equation in tourism finance that connects tourism research to empirical finance and financial econometrics. The energy industry, which includes, oil, gas and bio-energy fuels, together with the tourism industry, are two of the most important industries in the world today in terms of employment and generating income. The primary purpose in attracting domestic and international tourists to a country, region or city is to maximize tourism expenditure. The paper will concentrate on daily tourism expenditure, regardless of whether such data might be readily available. If such data are not available, a practical method is presented to calculate the appropriate data.

Keywords: tourism research; tourism finance; growth in tourism; returns on tourism; volatility; fundamental equation; empirical finance; financial econometrics (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2015
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Working Paper: The Fundamental Equation in Tourism Finance (2015) Downloads
Working Paper: The Fundamental Equation in Tourism Finance (2015) Downloads
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