New Zealand business tourism

Wai Hong Kan Tsui, Faruk Balli, David Tat Wei Tan, Oscar Lau and Mudassar Hasan
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Wai Hong Kan Tsui: Massey University, New Zealand; Chinese University of Hong Kong, Hong Kong
David Tat Wei Tan: University of New South Wales, Australia
Oscar Lau: Massey University, New Zealand
Mudassar Hasan: Massey University, New Zealand

Tourism Economics, 2018, vol. 24, issue 4, 386-417

Abstract: Business tourism has brought significant benefits to New Zealand’s tourism industry and economy. This study aims to provide a better understanding of the impact of economic uncertainty on New Zealand’s business tourism. The panel data gravity model and the maximally correlated portfolio are used to investigate the impacts of economic policy uncertainty (EPU) indices of New Zealand and its key trading partners, along with tourism and aviation-related factors, on New Zealand’s business tourist flows from 2008 to 2015. The findings suggest that two economic factors (New Zealand’s EPU index and bilateral trade volumes) and two noneconomic factors (flying distance and total direct flight seats) are statistically significant in explaining some of the variations in business tourism flows. The results have important policy implications for New Zealand’s policymakers in understanding business visitor demands and planning their tourism strategies.

Keywords: business tourism; economic policy uncertainty (EPU) index; economic uncertainty; policy implications; tourism- and aviation-related factors (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:24:y:2018:i:4:p:386-417

DOI: 10.1177/1354816617731387

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