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Estimating the Swedish and Norwegian international tourism demand using (ISUR) technique

A. Khalik Salman (), Leif Arnesson (), Anna Sörensson () and Ghazi Shukur
Additional contact information
A. Khalik Salman: Department of Social Sciences, Mid Sweden University, Postal: MID SWEDEN UNIVERSITY, Department of Social Sciences, SE 831 25 ÖSTERSUND,
Leif Arnesson: Department of Social Sciences, Mid Sweden University, Postal: MID SWEDEN UNIVERSITY, Department of Social Sciences, SE 831 25 ÖSTERSUND,
Anna Sörensson: Department of Social Sciences, Mid Sweden University, Postal: MID SWEDEN UNIVERSITY, Department of Social Sciences, SE 831 25 ÖSTERSUND,

No 2009:12, CAFO Working Papers from Linnaeus University, Centre for Labour Market Policy Research (CAFO), School of Business and Economics

Abstract: This paper estimates the demand for tourism to Sweden and Norway for five countries: Denmark, the United Kingdom, Switzerland, Japan, and the United States. For each visiting country, and for Sweden and Norway, we specify separate equations by including relative information. We then estimate these equations using Zellner’s Iterative Seemingly Unrelated Regressions (ISUR). The benefit of this model is that the ISUR estimators utilize the information present in the error correlation of the cross regressions (or equations) and hence are more efficient than single equation estimation methods such as ordinary least squares. Monthly time series data from 1993:01 to 2006:12 are used. The results show that the consumer price index, some lagged dependent variables, and several monthly dummies(representing seasonal effects) have a significant impact on the number of visitors to the SW6 region in Sweden and Tröndelag in Norway. We also find that, in at least some cases, relative prices and exchange rates have a significant effect on international tourism demand.

Keywords: Tourism demand; Significant factors; Iterative Seemingly Unrelated Regressions (ISUR) (search for similar items in EconPapers)
JEL-codes: C32 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2009-05-12
New Economics Papers: this item is included in nep-cul and nep-tur
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