scholarly journals The Effects of Economic and Financial Crises on International Tourist Flows: A Cross-Country Analysis

2019 ◽  
Vol 59 (2) ◽  
pp. 315-334 ◽  
Author(s):  
Usman Khalid ◽  
Luke Emeka Okafor ◽  
Muhammad Shafiullah
Keyword(s):  
Financial Crises ◽  
Debt Crisis ◽  
Gravity Data ◽  
Banking Crisis ◽  
International Tourism ◽  
Host Countries ◽  
Data Set ◽  
Domestic Debt ◽  
The Impact ◽  
Tourism Flows

This article investigates the effect of different economic and financial crises, such as inflation crisis, stock market crash, debt crisis, and banking crisis on international tourism flows using a panel gravity data set of 200 countries over the period 1995 to 2010. The results show that the inflation crisis has a dampening effect on international tourism flows in both the host and origin countries. The results also show that domestic debt crisis encourages international tourism arrivals in the host countries, whereas its impact on international tourism services in originating countries is negative. Further, the impact of these crises on tourism is region dependent. In particular, banking crisis depresses international tourism flows in host countries situated in regions such as America and Latin America and Caribbean, whereas its impact on originating countries located in regions such as Asia and the Middle East is insignificant.

Do Regional Trade Agreements Enhance International Tourism Flows? Evidence from a Cross-Country Analysis

2021 ◽  
pp. 004728752110283
Author(s):  
Usman Khalid ◽  
Luke Emeka Okafor ◽  
Katarzyna Burzynska
Keyword(s):  
Economic Integration ◽  
Gravity Data ◽  
Trade Agreements ◽  
Regional Trade Agreements ◽  
International Tourism ◽  
Integrated Analysis ◽  
Regional Trade ◽  
Data Set ◽  
Cross Country ◽  
Tourism Flows

This study investigates the effect of regional trade agreements (RTAs)—including preferential and free trade agreements, customs unions, and common markets—on bilateral tourism flows. We explore these effects using a panel gravity data set of 163 destination countries, 171 source countries, and 13,589 country-pairs from 1995 to 2015. This is the first large cross-country study to undertake such an integrated analysis using the gravity framework. Results show that all types of RTAs have a positive and significant effect on bilateral tourism flows. The overall indicator of RTAs that captures the combined effect of all types of RTAs on bilateral tourism flows is also positive and significant, on average, as well as when different regions are separately evaluated. These findings underscore the importance of strong economic integration in fostering international tourism flows. Policies aimed at improving a country’s economic integration with other countries can help promote international tourism flows.

The Effect of Migration on International Tourism Flows: The Role of Linguistic Networks and Common Languages

2021 ◽  
pp. 004728752110082
Author(s):  
Luke Emeka Okafor ◽  
Usman Khalid ◽  
Katarzyna Burzynska
Keyword(s):  
Gravity Data ◽  
Tourism Industry ◽  
International Tourism ◽  
Data Set ◽  
Skill Sets ◽  
Migration Rates ◽  
Tourist Flows ◽  
Specific Skill ◽  
Tourism Flows

We investigate the effect of migration rates on international tourism flows and whether linguistic networks and common languages affect the relationship between migration rates and tourist flows. We utilize the gravity data set consisting of 166 origin and 30 destination countries, over the 1995–2010 period for the empirical analysis. The results show that increased migration rates lead to higher international tourism flows in destination countries. This effect becomes even stronger when the destination country has a larger linguistic network. Migration matters less, however, when a country-pair shares closer linguistic ties. The findings of this study will help to inform public, and tourism industry policies aimed at boosting sustainable tourism flows, especially post COVID-19 pandemic. Targeted immigration policies, such as those that seek to attract foreign workers with specific skill sets, tend to enlarge linguistic networks and contribute to multilingualism, which in turn can boost international tourism flows.

Has tourism driven house prices in Germany? Time-varying evidence since 1870

2021 ◽  
pp. 135481662110088
Author(s):  
Sefa Awaworyi Churchill ◽  
John Inekwe ◽  
Kris Ivanovski
Keyword(s):  
World War Ii ◽  
Historical Data ◽  
House Prices ◽  
Housing Prices ◽  
Time Varying ◽  
Data Set ◽  
Time Series Modelling ◽  
The Impact ◽  
Tourism Flows ◽  
Non Parametric

Using a historical data set and recent advances in non-parametric time series modelling, we investigate the nexus between tourism flows and house prices in Germany over nearly 150 years. We use time-varying non-parametric techniques given that historical data tend to exhibit abrupt changes and other forms of non-linearities. Our findings show evidence of a time-varying effect of tourism flows on house prices, although with mixed effects. The pre-World War II time-varying estimates of tourism show both positive and negative effects on house prices. While changes in tourism flows contribute to increasing housing prices over the post-1950 period, this is short-lived, and the effect declines until the mid-1990s. However, we find a positive and significant relationship after 2000, where the impact of tourism on house prices becomes more pronounced in recent years.

scholarly journals Tourism under the Early Phase of COVID-19 in Four APEC Economies: An Estimation with Special Focus on SARS Experiences

2020 ◽  
Vol 17 (20) ◽  
pp. 7543
Author(s):  
Bao-Linh Tran ◽  
Chi-Chung Chen ◽  
Wei-Chun Tseng ◽  
Shu-Yi Liao
Keyword(s):  
Hong Kong ◽  
New Zealand ◽  
Fixed Effects ◽  
Negative Impact ◽  
Asia Pacific ◽  
International Tourism ◽  
Special Focus ◽  
Tourism Demand ◽  
Data Set ◽  
The Impact

This study examines how experience of severe acute respiratory syndrome (SARS) influences the impact of coronavirus disease (COVID-19) on international tourism demand for four Asia-Pacific Economic Cooperation (APEC) economies, Taiwan, Hong Kong, Thailand, and New Zealand, over the 1 January–30 April 2020 period. To proceed, panel regression models are first applied with a time-lag effect to estimate the general effects of COVID-19 on daily tourist arrivals. In turn, the data set is decomposed into two nation groups and fixed effects models are employed for addressing the comparison of the pandemic-tourism relationship between economies with and without experiences of the SARS epidemic. Specifically, Taiwan and Hong Kong are grouped as economies with SARS experiences, while Thailand and New Zealand are grouped as countries without experiences of SARS. The estimation result indicates that the number of confirmed COVID-19 cases has a significant negative impact on tourism demand, in which a 1% COVID-19 case increase causes a 0.075% decline in tourist arrivals, which is a decline of approximately 110 arrivals for every additional person infected by the coronavirus. The negative impact of COVID-19 on tourist arrivals for Thailand and New Zealand is found much stronger than for Taiwan and Hong Kong. In particular, the number of tourist arrivals to Taiwan and Hong Kong decreased by 0.034% in response to a 1% increase in COVID-19 confirmed cases, while in Thailand and New Zealand, a 1% national confirmed cases increase caused a 0.103% reduction in tourism demand. Moreover, the effect of the number of domestic cases on international tourism is found lower than the effect caused by global COVID-19 mortality for the economies with SARS experiences. In contrast, tourist arrivals are majorly affected by the number of confirmed COVID-19 cases in Thailand and New Zealand. Finally, travel restriction in all cases is found to be the most influencing factor for the number of tourist arrivals. Besides contributing to the existing literature focusing on the knowledge regarding the nexus between tourism and COVID-19, the paper’s findings also highlight the importance of risk perception and the need of transmission prevention and control of the epidemic for the tourism sector.

INEQUALITY, FDI AND ECONOMIC DEVELOPMENT: EVIDENCE FROM DEVELOPING COUNTRIES

2017 ◽  
Vol 62 (05) ◽  
pp. 1039-1057 ◽  
Author(s):  
MUHAMMAD TARIQ MAJEED
Keyword(s):  
Economic Development ◽  
Estimation Methods ◽  
Host Countries ◽  
Data Set ◽  
Regional Effects ◽  
Specific Effects ◽  
Level Of Economic Development ◽  
Time Specific ◽  
High Level ◽  
The Impact

This paper empirically investigates the impact of Foreign Direct Investment (FDI) on inequality using a panel data set of 65 developing counties. While the existing literature mainly examines the impact of FDI on growth, this study explores the importance of domestic conditions of the host countries in determining the distributional effects of FDI. The results show that the impact of FDI is not homogenous on host countries as FDI inflows exert inequality-narrowing effect only in countries that have stronger investment in human capital, better financial sector and a high level of economic development. While FDI accentuates not ameliorates inequality in countries with low level of economic development, findings of the study are robust to the use of different specifications, different estimation methods, inclusion of regional effects and time specific effects.

International Tourism

2020 ◽  
Author(s):  
Bob McKercher ◽  
Bruce Prideaux
Keyword(s):  
World Trade Organization ◽  
World Trade ◽  
International Tourism ◽  
Diplomatic Relations ◽  
Trade In Services ◽  
Political Factors ◽  
Political Relationships ◽  
The World ◽  
The Impact ◽  
Tourism Flows

International tourism is influenced by both small and big ‘P’ politics. Political factors influence who can visit a country and who is not welcome. As Artal-Tur et al. (2015) note, the impact of diplomatic relations on tourism flows is immense. Political relationships influence international air service agreements and through the General Agreement of Trade in Services, controlled by the World Trade Organization (WTO), influence the internationalization of tourism in all areas. To understand international tourism, then, you need a general understanding of the international trade dimensions that guide it and the politics behind some of them.

Impacts of globalization on worker injury in host countries

2019 ◽  
Vol 10 (2) ◽  
pp. 119-133
Author(s):  
Michael D. Stackhouse ◽  
Kaustav Misra ◽  
Micah DelVecchio
Keyword(s):  
Social Responsibility ◽  
Labor Force ◽  
Panel Study ◽  
Secondary Data ◽  
International Expansion ◽  
Host Countries ◽  
Data Set ◽  
Content Type ◽  
Iso 26000 ◽  
The Impact

Purpose International expansion is an inevitable consequence for companies that are seeking revenue growth. Foreign direct investment (FDI) by global enterprises is a common route of such expansion. As companies invest abroad, competing interests cause concerns over the impact (both positive and negative) on the local labor force (necessitating corporate social responsibility) caused by FDI. Therefore, there is a logical link between FDI, a country’s labor force and globalization. The purpose of this study is to explore this untested relationship. Design/methodology/approach This panel study uses cross-country data from the World Bank to understand the pattern of influence of globalization on worker injury. A secondary data set of 36 developed and developing countries from 2003 to 2007 are gathered for this paper to analyze. Findings The results of this paper indicate that, companies are seeking to maintain higher levels of social responsibility should not only consider a framework such as ISO 26000 themselves but also they should encourage compliance from their upstream suppliers as well. Originality/value Goods for these companies are manufactured in Bangladesh, but unfortunately, a serious tragedy occurred when a building collapsed, resulting in the death of 1,127 people, which was not the first of such events in Bangladesh (The Associated Press, 2013). Inspired by this recent tragedy, this study examines possible connections between globalization and the factors that are associated with the incidences of worker injury. Globalization is a well-studied phenomenon, however very little has been done to examine its impact on worker injuries; this paper helps fill that gap.

scholarly journals Going Viral

2020 ◽  
Vol 20 (112) ◽  
Author(s):  
Serhan Cevik
Keyword(s):  
Infectious Diseases ◽  
Disease Risk ◽  
Statistical Significance ◽  
International Tourism ◽  
Model Framework ◽  
Health Infrastructure ◽  
Advanced Economies ◽  
Negative Effect ◽  
The Impact ◽  
Tourism Flows

This paper develops a gravity model framework to estimate the impact of infectious diseases on bilateral tourism flows among 38,184 pairs of countries over the period 1995–2017. The results confirm that international tourism is adversely affected by disease risk, and the magnitude of this negative effect is statistically and economically significant. In the case of SARS, for example, a 10 percent rise in confirmed cases leads to a reduction of as much as 9 percent in tourist arrivals. Furthermore, while infectious diseases appear to have a smaller and statistically insignificant negative effect on tourism flows to advanced economies, the magnitude and statistical significance of the impact of infectious diseases are much greater in developing countries, where such diseases tend to be more prevalent and health infrastructure lags behind.

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