Impact of economic policy on international tourism demand: the case of Abenomics

Jewoo Kim, Choong-Ki Lee and James W. Mjelde

Current Issues in Tourism, 2018, vol. 21, issue 16, 1912-1929

Abstract: Since the 2008 global financial crisis and resulting recession, many countries have been following unconventional monetary policies. Little information is known on how these policies may influence tourism demand. This study starts to fill this gap by investigating the impact of the Japanese economic policy known as Abenomics on South Koreans’ travel to Japan, the largest inbound market for Japan. Per capita gross domestic product, relative prices, and exchange rates are significant determinants of Japanese inbound tourism. As these variables have been influenced by Abenomics, one can infer that Abenomics is associated with a significant increase in tourist arrivals from South Korea. Findings highlight the importance of government economic policy in stimulating international tourism demand through its impact on the economy.

Date: 2018
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DOI: 10.1080/13683500.2016.1198307

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