Do Country Risks Matter for Tourism Development? International Evidence

2020 ◽  
pp. 004728752095453 ◽  
Author(s):  
Chien-Chiang Lee ◽  
Mei-Ping Chen
Keyword(s):  
Financial Stability ◽  
Tourism Development ◽  
Country Risk ◽  
Global Perspective ◽  
International Tourism ◽  
Method Of Moment ◽  
Policy Makers ◽  
International Evidence ◽  
International Tourist ◽  
Sector Returns

This research fills the gap in the tourism literature on the impacts of country stability—including political, financial, and economic—on tourism development (i.e., international tourist arrivals, international tourism revenues, and travel and leisure sector returns). To account for possible asymmetric and nonlinear relationships among variables, we apply a new method of moment quantile regression, by using panel data from 106 countries spanning the period 2006–2017. From a global perspective, the empirical results indicate that higher country stability generally leads to higher tourism development, while there is no salient influence of financial stability on travel and leisure sector returns. This suggests that the effects of country risk ratings are mostly nonlinear across different tourism development quantiles. Additionally, different components of risk rating scores have diverse impacts on tourism development. The findings mean that policy makers should consider their tourism condition when setting country stability strategies.

Environmental quality and energy import dynamics

2019 ◽  
Vol 31 (3) ◽  
pp. 665-682 ◽  
Author(s):  
Andrew Adewale Alola ◽  
Kayode Kolawole Eluwole ◽  
Uju Violet Alola ◽  
Taiwo Temitope Lasisi ◽  
Turgay Avci
Keyword(s):  
Environmental Quality ◽  
Geographical Location ◽  
Tourism Development ◽  
International Tourism ◽  
Causality Test ◽  
Content Type ◽  
Mediterranean Countries ◽  
International Tourist ◽  
Global Tourism ◽  
Policy Direction

Purpose The geographical location and the ambiance of the Coastline Mediterranean Countries (CMCs) advantageously present the region as a tourist destination with rich cultures. The paper aims to discuss this issue. Design/methodology/approach As such, this study investigates the dynamics of energy import and environmental quality in relation to international tourism development for nine CMCs over the period 1995–2013 using a pooled mean group approach. Findings Although the impacts of energy import, CO2 (here as environmental quality) and GDP on international tourism receipts are observed to be significant and negative, international tourist arrival expectedly exerts positive and significant impact, all at the adjustment speed of 0.19. A heterogeneously robust Granger non-causality test further reveals a strong one-directional causal relationship from energy import to tourism receipts. Research limitations/implications The dynamics of the energy market amidst persistent evolution of new source(s) of energy would evidently play a significant role in the region’s tourism sector. It then suggests policy direction to governments of the region and by extension the global tourism market. Originality/value By providing insight into the nexus of environment, energy and tourism development, the current study is the first that addresses the concern in the context of the CMCs.

scholarly journals STATISTICAL ANALYSIS OF CURRENT TRENDS IN THE TOURISM DEVELOPMENT OF THE VISEGRAD GROUP

2021 ◽  
Author(s):  
Tatyana Derkach ◽  
Olha Mylashko
Keyword(s):  
Comparative Analysis ◽  
Regression Model ◽  
Impact Analysis ◽  
Tourism Development ◽  
International Tourism ◽  
The European Union ◽  
International Tourist ◽  
The World ◽  
The Impact ◽  
Visegrad Group

The paper presents the research results of tourism state and patterns development in the Visegrad Group. The regional grouping of Central and Eastern Europe, the Visegrad Group, has become a separate subsystem of the European Union, which has received economic, logistical, cultural and political content. These processes are important for Ukraine. The experience of the Visegrad Group, the ability to quickly solve current issues and face the challenges, understanding the real hierarchy of priorities while preserving the national identity of the Visegrad Group (VG) are significant for Ukraine. Tourism is an area that can positively influence both the development of the integrated structure as a whole and the socio-economic development of its member countries. The article carries out a comparative analysis of tourism development trends in the Visegrad Group countries, Europe and the world, as well as develops recommendations for assessing the cooperation prospects between Ukraine and the VG using econometric methods. To achieve the goal of the study, a comparative analysis of global, European and Visegrad trends in tourism was developed, arrivals of international tourists on the amount of income from international tourism by conducting a correlation-regression analysis, substantiated and developed applied aspects for forecasting the potential mutual benefit from cooperation between Ukraine and the VG. According to the World Trade Organization, the forecast of the number of international tourists in the world for 2020-2021 was made. Based on the impact assessment of the number of international tourist arrivals on the amount of income from international tourism, a linear regression model was built, the adequacy and reliability of the regression coefficient was confirmed by Fisher's and Student's estimates. During the analysis (from a priori analysis, proving the quantitative and qualitative homogeneity of the two sets, to the construction, evaluation and analysis of the obtained model) a regression model was built, which can be recommended to be used in the impact analysis of tourist arrivals on international tourism. A comparative analysis of the dynamics of international tourist arrivals and revenues from international tourism in Poland and Ukraine was done. As a result of Poland's experience research, a model of revenues from international tourism is recommended, the factors of which are gross investment (% of GDP) and the number of tourist arrivals.

Tourism development and happiness: International evidence

2020 ◽  
pp. 135481662092157 ◽  
Author(s):  
Chien-Chiang Lee ◽  
Mei-Ping Chen ◽  
Yi-Ting Peng
Keyword(s):  
Social Media ◽  
Panel Data ◽  
Host Country ◽  
Tourism Development ◽  
Macroeconomic Factors ◽  
Related Literature ◽  
International Evidence ◽  
Regression Approach ◽  
Sector Returns ◽  
Tourism Revenue

The existing tourism- and happiness-related literature commonly investigates whether a happy destination does in fact render tourists happy and how tourist arrivals affect residents’ happiness. This research thus first explores whether the host country and Twitter happiness indices influence tourism development in an international framework (i.e. tourist arrivals, tourism revenues, and travel and leisure sector returns). To account for intricate correlations among variables, the study employs a quantile regression approach on panel data from 119 countries spanning 2006–2017. Evidences find that most host country happiness indices and macroeconomic factors show salient, nonlinear, and asymmetric impacts across both tourist arrival and tourism revenue quantiles in concurrent and subsequent periods, except for European country results. Moreover, Twitter happiness index strongly affects travel and leisure sector returns, but has no impact on tourist arrivals as well as tourism revenues, implying the importance of social media happiness on said returns.

scholarly journals Tourism Development in Terms of the Pandemic: New Trends and Anti-crisis Measures

2020 ◽  
pp. 64-68
Author(s):  
Lyudmila Bato-Zhargalovna Maksanova ◽  
Alyona Mikhailovna Andreeva
Keyword(s):  
Tourism Development ◽  
International Tourism ◽  
Mutual Benefit ◽  
Research Results ◽  
Joint Development ◽  
International Tourist ◽  
Main Strategy ◽  
Mutual Responsibility

The main trends in tourism development, which have emerged in the terms of the coronavirus pan-demic, are analyzed in the paper. The anti-crisis measures to support the industry in the difficult period and experience of countering the spread of COVID-19 were considered by the case of Russia, Kazakhstan, China and Mongolia. These countries are characterized by integration cooperation on the implementation of international tourist routes. It was revealed that these countries have taken tough measures to limit the international tourism devel-opment. The main strategy of these countries is to rely on their internal recreational opportunities. The borders opening and the international tourism re-covery will be slow and uneven. The need to update the integration processes in the field of tourism is substantiated not only on the principles of mutual benefit and joint development, but also of mutual responsibility and preparedness for crises and their management. The research results can be used in the preparation or correction of conceptual, strate-gic and program documents for the tourism devel-opment both at the national and regional levels, especially in the post-COVID period.

The Impact of Economic Crisis on Tourism Industry: A Bangladesh Perspective

2016 ◽  
Vol 2 (1) ◽  
Author(s):  
Md. Ziaul Haque
Keyword(s):  
Economic Crisis ◽  
Tourism Industry ◽  
Political Crisis ◽  
Strong Impact ◽  
Negative Consequences ◽  
Policy Makers ◽  
Tourism Product ◽  
International Tourist ◽  
Sustained Recovery ◽  
The Impact

The tourism sector is experiencing numerous challenges as a result of the global economic crisis. After a significant contraction in 2009, tourism rebounded strongly  in  2010  and  in  2011  the  international  tourist  arrivals  and  receipts  are projected to increase substantially. The Tourism industry is expected to show a sustained recovery in 2012. The crisis has particularly strong impact and slightly negative consequences in Bangladesh. The country is undergoing a political crisis, as well, and it seems that the forthcoming elections may be the only solution for the restoration of stability and social peace.  In addition, tourism can be the driving force behind Bangladesh economic recovery. However, for its achievement the country’s policy makers should take several measures towards restructuring and improving the sector. These measures include: enhancement of alternative forms of tourism; environmental protection; creation of quality infrastructure; and boost of competitiveness through a tourism product that offers value for money

The Impact Of Economic Crisis On Tourism Industry: A Bangladesh Perspective

2015 ◽  
Vol 1 (1) ◽  
pp. 15
Author(s):  
Md. Ziaul Haque
Keyword(s):  
Economic Crisis ◽  
Tourism Industry ◽  
Political Crisis ◽  
Strong Impact ◽  
Negative Consequences ◽  
Policy Makers ◽  
Tourism Product ◽  
International Tourist ◽  
Sustained Recovery ◽  
The Impact

The tourism sector is experiencing numerous challenges as a result of the global economic crisis. After a significant contraction in 2009, tourism rebounded strongly  in  2010  and  in  2011  the  international  tourist  arrivals  and  receipts  are projected to increase substantially. The Tourism industry is expected to show a sustained recovery in 2012. The crisis has particularly strong impact and slightly negative consequences in Bangladesh. The country is undergoing a political crisis, as well, and it seems that the forthcoming elections may be the only solution for the restoration of stability and social peace.  In addition, tourism can be the driving force behind Bangladesh economic recovery. However, for its achievement the country’s policy makers should take several measures towards restructuring and improving the sector. These measures include: enhancement of alternative forms of tourism; environmental protection; creation of quality infrastructure; and boost of competitiveness through a tourism product that offers value for money

Country Risk Analysis of Bangladesh

2016 ◽  
Vol 5 (2) ◽  
Author(s):  
Zahidur Rahman ◽  
Jannatul Ferdous Bristy
Keyword(s):  
Risk Analysis ◽  
Financial Risk ◽  
Political Risk ◽  
Multinational Companies ◽  
Country Risk ◽  
Low Risk ◽  
Primary Data ◽  
Policy Makers ◽  
Financial Factors ◽  
Political Economic

In the endeavor of conquering the worlds consumers, multinational companies face enormous risks. Such risks may arise from different political, economic, and financial factors. These factors are commonly referred to country risk as a whole. Focusing Bangladesh in this regard, objective of this study is to find out the level of country risk in terms of political, economic, and financial riskiness. Analysis of country risk has been done using an internationally recognized methodology named International Country Risk Guide (ICRG). For political risk analysis, primary data has been collected from 20 journalists, bureaucrats and policy makers, business persons, corporate professionals, and academicians with a structured closed-ended questionnaire. Results indicate that Bangladesh is in high risk position in terms of political risk, low risk position in terms of economic risk and very low risk position in terms of financial risk. Compositely, Bangladesh has been found to be a moderately risky country for investment.

scholarly journals A Review of Eco-Innovations and Exports Interrelationship, with Special Reference to International Agrifood Supply Chains

2021 ◽  
Vol 13 (3) ◽  
pp. 1378
Author(s):  
María del Carmen Galera-Quiles ◽  
Laura Piedra-Muñoz ◽  
Emilio Galdeano-Gómez ◽  
Angel Carreño-Ortega
Keyword(s):  
Supply Chains ◽  
Social Performance ◽  
Influential Factors ◽  
Global Perspective ◽  
Future Research ◽  
Employment Level ◽  
Policy Makers ◽  
Bidirectional Relationship ◽  
Business Size ◽  
Micro Level

Growing environmental awareness in recent years has led to greater efforts by companies and governments to promote eco-innovation, which is becoming an increasingly competitive factor in international supply chains. However, the interrelationships between exports and eco-innovation have not yet been studied in sufficient depth. As such, the purpose of this work is to analyze the influence that exists between these two variables, both at a business or micro level and at a country/region or macro level, and the most influential factors, such as country of origin and sector of activity, among others. To this end, 60 publications have been reviewed from 1996 to 2019 from a global perspective, to analyze the characteristics that define them and both the existing relationship and impact generated by the two variables being studied within international supply chains. The results show that, in general, there is a positive bidirectional relationship, influenced by several factors, such as social performance, environmental regulation, cooperation strategies, employment level, or business size. Additionally, there is a growing interest in this issue within the agrifood sector, as the benefits of an appropriate environmental policy based on innovation to promote exports are of great importance. Finally, a series of recommendations are made for future research that is able to serve scholars, companies and also policy makers.

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