Economic policy uncertainty and international tourist arrivals: A disaggregated analysis of the Croatian Adriatic coast

James Payne, Saban Nazlioglu and Andrea Mervar

Tourism Economics, 2023, vol. 29, issue 4, 986-1004

Abstract: This is the first study to examine the differential impact of Croatian and European economic policy uncertainty indices while controlling for the real effective exchange rate and industrial production on international tourist arrivals for the seven coastal counties of Croatia and the country as a whole. The Toda-Yamamoto long-run causality modeling approach with a Fourier approximation is employed to capture structural shifts. This approach is particularly useful in light of the disruption from the COVID-19 pandemic on the tourism sector. The results show unidirectional causality from both Croatian and European economic policy uncertainty indices to international tourist arrivals with the impact of the economic policy uncertainty indices negative and statistically significant across the respective coastal counties. Moreover, the findings show that European economic policy uncertainty exhibits a greater adverse impact on international tourist arrivals relative to Croatian economic policy uncertainty. JEL Codes: C30; Z30; Z32; Z38

Keywords: international tourist arrivals; economic policy uncertainty; tourism demand; Fourier Toda-Yamamoto; Croatia (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/13548166221078807 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:29:y:2023:i:4:p:986-1004

DOI: 10.1177/13548166221078807

Access Statistics for this article

More articles in Tourism Economics
Bibliographic data for series maintained by SAGE Publications ().