Quantile dependence of tourism activity between Southern European countries

Štefan Lyócsa, Petra Vašaničová and Eva Litavcová

Applied Economics Letters, 2020, vol. 27, issue 3, 206-212

Abstract: Using monthly data on arrivals at tourist accommodation establishments, we estimate the quantile dependence of tourism activity between four Southern European countries: Greece, Italy, Spain and Portugal. We find evidence of strong positive dependence between tourism activities across a wide range of quantiles. Most of the dependence is driven by right-tail events; i.e. tourism sectors seem to grow together. Our results, therefore, suggest that the efforts of a joint European tourism policy appear to have some merit, as tourism activity already behaves similarly across countries, and therefore, pursuing joint policies should be less risky and less difficult to implement.

Date: 2020
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DOI: 10.1080/13504851.2019.1613484

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