Assessing the Impact of Shocks on International Tourism Demand for Portugal

Ana C.M. Daniel and Paulo Rodrigues
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Ana C.M. Daniel: ESTG – Instituto Politécnico da Guarda and UDI – Unidade para o Desenvolvimento do Interior, Guarda, Portugal

Tourism Economics, 2012, vol. 18, issue 3, 617-634

Abstract: In this paper, a vector autoregressive (VAR) framework is used to model international tourism demand from the five main inbound tourism countries for Portugal: Germany, Spain, France, the Netherlands and the UK. Given the non-stationarity of the variables considered, vector error correction models (VECMs) are estimated. These are then used to analyse the impulse response functions in order to determine how international tourism demand for Portugal reacts to shocks to some of its important drivers, such as income, the cost of living in Portugal and the cost of living in Spain (the last as representative of the price in the main competing market with Portugal).

Keywords: VAR; VECM; impulse response function; tourism demand; Portugal (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:18:y:2012:i:3:p:617-634

DOI: 10.5367/te.2012.0128

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