A Panel Data Modelling of International Tourism Demand: Evidences for Romania

Camelia Surugiu, Nuno Leitão and Marius Răzvan Surugiu
Authors registered in the RePEc Author Service: Marius-Razvan Surugiu

Economic Research-Ekonomska Istraživanja, 2011, vol. 24, issue 1, 134-145

Abstract: This paper analysis the determinants of international tourism demand for Romania and it quantifies their influences. The authors elaborate two models, a fixed-effects model and the Tobit model, to estimate tourist inflow data from twenty-three European countries, for the period 1997-2008. In the fixed effects static panel model, we find that GDP per capita, bilateral trade, population, prices are the main determinants of tourism flows to Romania. For the Tobit model, all the variables taken into consideration, GDP per capita, bilateral trade, population, geographical distance, prices are influencing the international tourism demand. Both models indicate that trade, population, and income are more important determinants than relative prices or geographical distance between Romania and countries of origin.

Date: 2011
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DOI: 10.1080/1331677X.2011.11517450

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