ECONOMIC AND INSTITUTIONAL DETERMINANTS OF INTERNATIONAL TOURISM DEMAND IN THE ECOWAS REGION
This study examines the economic and institutional determinants of international tourism demand in the Economic Community of West African States (ECOWAS) region. The study employs a static panel regression model using annual data between the years 2000 and 2015 across all countries in the West Afri...
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| Format: | Article |
| Language: | English |
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Kwara State University, Malete Nigeria
2023-11-01
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| Series: | Malete Journal of Accounting and Finance |
| Subjects: | |
| Online Access: | https://majaf.com.ng/index.php/majaf/article/view/33 |
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| author | Sodiq Olaiwola Jimoh Nusirat Ojuolape Gold |
| author_facet | Sodiq Olaiwola Jimoh Nusirat Ojuolape Gold |
| author_sort | Sodiq Olaiwola Jimoh |
| collection | DOAJ |
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This study examines the economic and institutional determinants of international tourism demand in the Economic Community of West African States (ECOWAS) region. The study employs a static panel regression model using annual data between the years 2000 and 2015 across all countries in the West African region. The empirical result suggests that real effective exchange rate, level of corruption, income of international tourists, relative price of tourism and insecurity have a significant impact on the level of tourism demand in the ECOWAS region at 1%,10%,1%,1% and 5% significant level respectively. The signs of the parameters of the variables show that income and political instability have positive impact on the tourism demand while relative price, corruption and insecurity have negative impact on the tourism demand in the region. The study recommends government, authorities in charge of crime prevention (security agencies) and other key players (both private and public) to team up and map out plans to tackle terrorism and insecurity in the West African region; the region should consider adopting single currency to stabilize prices; and ensure effective communication is maintained so that tourists are adequately informed about dangerous zones.
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| format | Article |
| id | doaj-art-399f4b625415458c97b7abd62ac5fd40 |
| institution | Kabale University |
| issn | 2735-9603 |
| language | English |
| publishDate | 2023-11-01 |
| publisher | Kwara State University, Malete Nigeria |
| record_format | Article |
| series | Malete Journal of Accounting and Finance |
| spelling | doaj-art-399f4b625415458c97b7abd62ac5fd402025-02-10T23:06:31ZengKwara State University, Malete NigeriaMalete Journal of Accounting and Finance2735-96032023-11-0111ECONOMIC AND INSTITUTIONAL DETERMINANTS OF INTERNATIONAL TOURISM DEMAND IN THE ECOWAS REGIONSodiq Olaiwola Jimoh0Nusirat Ojuolape Gold1Kwara State University, MaleteKwara State University, Malete This study examines the economic and institutional determinants of international tourism demand in the Economic Community of West African States (ECOWAS) region. The study employs a static panel regression model using annual data between the years 2000 and 2015 across all countries in the West African region. The empirical result suggests that real effective exchange rate, level of corruption, income of international tourists, relative price of tourism and insecurity have a significant impact on the level of tourism demand in the ECOWAS region at 1%,10%,1%,1% and 5% significant level respectively. The signs of the parameters of the variables show that income and political instability have positive impact on the tourism demand while relative price, corruption and insecurity have negative impact on the tourism demand in the region. The study recommends government, authorities in charge of crime prevention (security agencies) and other key players (both private and public) to team up and map out plans to tackle terrorism and insecurity in the West African region; the region should consider adopting single currency to stabilize prices; and ensure effective communication is maintained so that tourists are adequately informed about dangerous zones. https://majaf.com.ng/index.php/majaf/article/view/33Tourism demandReal effective exchange rateCorruption |
| spellingShingle | Sodiq Olaiwola Jimoh Nusirat Ojuolape Gold ECONOMIC AND INSTITUTIONAL DETERMINANTS OF INTERNATIONAL TOURISM DEMAND IN THE ECOWAS REGION Malete Journal of Accounting and Finance Tourism demand Real effective exchange rate Corruption |
| title | ECONOMIC AND INSTITUTIONAL DETERMINANTS OF INTERNATIONAL TOURISM DEMAND IN THE ECOWAS REGION |
| title_full | ECONOMIC AND INSTITUTIONAL DETERMINANTS OF INTERNATIONAL TOURISM DEMAND IN THE ECOWAS REGION |
| title_fullStr | ECONOMIC AND INSTITUTIONAL DETERMINANTS OF INTERNATIONAL TOURISM DEMAND IN THE ECOWAS REGION |
| title_full_unstemmed | ECONOMIC AND INSTITUTIONAL DETERMINANTS OF INTERNATIONAL TOURISM DEMAND IN THE ECOWAS REGION |
| title_short | ECONOMIC AND INSTITUTIONAL DETERMINANTS OF INTERNATIONAL TOURISM DEMAND IN THE ECOWAS REGION |
| title_sort | economic and institutional determinants of international tourism demand in the ecowas region |
| topic | Tourism demand Real effective exchange rate Corruption |
| url | https://majaf.com.ng/index.php/majaf/article/view/33 |
| work_keys_str_mv | AT sodiqolaiwolajimoh economicandinstitutionaldeterminantsofinternationaltourismdemandintheecowasregion AT nusiratojuolapegold economicandinstitutionaldeterminantsofinternationaltourismdemandintheecowasregion |