Integration of tourism markets in Australia
Stavros Kourtzidis (),
Nickolaos Tzeremes and
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TomÃ¡Å¡ HeryÃ¡n: Silesian University, Czech Republic
Tourism Economics, 2018, vol. 24, issue 7, 901-907
By applying the methodological framework of transition modeling and econometric convergence tests introduced by Phillips and Sul, we reveal the existence of convergence clubs and transition convergence paths of international visitor arrivals for Australia. Specifically, by using monthly data of international arrivals over the period of January 1991 to September 2017, we provide evidence that tourism markets can integrate. The analysis suggests the identification of five distinct convergence clubs. This in turn signifies an integration phenomenon of Australiaâ€™s tourism market, which is revealed through the different convergence patterns of international visitor arrivals. Finally, it is evident that the revealed integration behavior of Australiaâ€™s international tourism market will enable policy makers to target better tourism needs through customized policies.
Keywords: Australia; convergence clubs; monthly arrivals; transition paths (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:24:y:2018:i:7:p:901-907
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