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Contemporary Drivers of Global Tourism: Evidence from Terrorism and Peace Factors

Simplice Asongu (), Joseph Nnanna (), Nicholas Biekpe () and Paul Acha-Anyi ()
Additional contact information
Joseph Nnanna: The Development Bank of Nigeria, Abuja, Nigeria
Nicholas Biekpe: University of Cape Town, Cape Town, South Africa
Paul Acha-Anyi: University of Johannesburg, Johannesburg

No 18/039, AFEA Working Papers from African Finance and Economic Association (AFEA)

Abstract: This study examines the effect of terrorism and peace on tourist destination arrivals using a panel of 163 countries with data for the period 2010 to 2015. The empirical evidence is based on Generalised Method of Moments and Negative Binomial (NB) regressions. Our best estimators are from NB regressions from which the following main findings are established. First, political instability, violent demonstrations and number of homicides negatively affect tourist arrivals while the number of incarcerations positively influences the outcome variable. Second the effects from military expenditure, “armed service personnel†and “security officers and polices†are not positively significant. Managerial implications are discussed.

Keywords: Terrorism; Peace; Tourism (search for similar items in EconPapers)
JEL-codes: D74 Z32 Z38 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-tur
Date: 2018-01
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Forthcoming: Journal of Travel & Tourism Marketing

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http://afeawpapers.org/RePEc/afe/afe-wpaper/Determ ... nd-Peace-Factors.pdf Revised version, 2018 (application/pdf)

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Working Paper: Contemporary Drivers of Global Tourism: Evidence from Terrorism and Peace Factors (2018) Downloads
Working Paper: Contemporary Drivers of Global Tourism: Evidence from Terrorism and Peace Factors (2018) Downloads
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