World Heritage Sites as Determinants of International Tourism Demand in Latin America and the Caribbean

Viviana Leonardi (), Silvina Elías () and Marina Tortul ()
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Viviana Leonardi: Universidad Nacional del Sur
Silvina Elías: Universidad Nacional del Sur
Marina Tortul: Universidad Nacional del Sur

Lecturas de Economía, 2022, issue 96, 171-200

Abstract: The literature highlights that the declaration of a touristic place as a World Heritage Site (WHS) entails a significant increase in visitors, especially international ones. In this context, the aim of this work is to measure this relationship in the case of the countries of Latin America and the Caribbean. To do so, according to Su and Lin (2014), different variants of the international tourism demand function are estimated using a panel data model of 32 countries in the Latin American region for the period 1995-2016. The main result is that both material and immaterial WHS have a positive effect on the arrival of international tourists to the countries of the studied region. We also found that increasing the number of WHS has a stronger impact on high income countries than on low-income ones. In this sense, it is considered relevant that Latin American and Caribbean countries deepen their efforts to achieve the recognition of new WHS.

Keywords: tourism; world heritage site; Latin America and the Caribbean; tourism demand; panel data (search for similar items in EconPapers)
JEL-codes: A10 C13 Z30 Z31 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.17533/udea.le.n96a342804

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