The Fundamental Equation in Tourism Finance

Michael McAleer

No EI2015-35, Econometric Institute Research Papers from Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute

Abstract: The purpose of the paper is to present the fundamental equation in tourism finance that connects tourism research to empirical finance and financial econometrics. The energy industry, which includes, oil, gas and bio-energy fuels, together with the tourism industry, are two of the most important industries in the world today in terms of employment and generating income. The primary purpose in attracting domestic and international tourists to a country, region or city is to maximize tourism expenditure. The paper will concentrate on daily tourism expenditure, regardless of whether such data might be readily available. If such data are not available, a practical method is presented to calculate the appropriate data.

Keywords: tourism research; tourism finance; growth in tourism; returns on tourism; volatility; fundamental equation; empirical finance; financial econometrics (search for similar items in EconPapers)
JEL-codes: C22 C32 C58 G32 (search for similar items in EconPapers)
Pages: 9
Date: 2015-11-01
New Economics Papers: this item is included in nep-tur
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

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Related works:
Journal Article: The Fundamental Equation in Tourism Finance (2015)
Working Paper: The Fundamental Equation in Tourism Finance (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:ems:eureir:79221

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