MODELING DOMESTIC TOURISM DEMAND IN GALICIA USING THE ARDL APPROACH
Tourism is one of the most important sectors for the economy of Galicia (North-west of Spain). The aim of our study is to find the most important socio-economic factors that statistically influence the domestic tourism demand for Galicia. For this purpose, we make use of the ARDL bounds testing...
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| Format: | Article |
| Language: | English |
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University of Algarve, ESGHT/CINTURS
2011-01-01
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| Series: | Tourism & Management Studies |
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| Online Access: | https://tmstudies.net/index.php/ectms/article/view/334/551 |
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| author | MANUEL GONZÁLEZ-GÓMEZ MARCOS ÁLVAREZ-DÍAZ MARISOL OTERO-GIRÁLDEZ PhD, Department of Applied Economics, University |
| author_facet | MANUEL GONZÁLEZ-GÓMEZ MARCOS ÁLVAREZ-DÍAZ MARISOL OTERO-GIRÁLDEZ PhD, Department of Applied Economics, University |
| author_sort | MANUEL GONZÁLEZ-GÓMEZ |
| collection | DOAJ |
| description | Tourism is one of the most important sectors for
the economy of Galicia (North-west of Spain). The
aim of our study is to find the most important
socio-economic factors that statistically influence
the domestic tourism demand for Galicia. For this
purpose, we make use of the ARDL bounds testing
cointegration approach (Pesaran et al., 2001). Once
the main influencing factors are known, we
construct an econometric model using a general-tospecific ARDL modeling procedure. The estimated
coefficients of the model allow us to quantify the
impact of the influencing factors on the Galician
domestic tourism demand. According to our results,
the income elasticity of demand tends to be unitary;
that is, an increase of 1 per cent in the income of
Spanish residents produces a rise of around 1 per
cent in the domestic tourism demand. Moreover,
the Eastern vacations and the celebration of the
Holy Year increase the tourism demand by around
11 per cent. Finally, the economic crisis and the
differential of inflation between Galicia and the rest
of Spain decrease the tourism demand in a 7.5 per
cent. |
| format | Article |
| id | doaj-art-415c90bc603a4791909679255d78cf41 |
| institution | Kabale University |
| issn | 2182-8466 |
| language | English |
| publishDate | 2011-01-01 |
| publisher | University of Algarve, ESGHT/CINTURS |
| record_format | Article |
| series | Tourism & Management Studies |
| spelling | doaj-art-415c90bc603a4791909679255d78cf412025-02-02T19:32:39ZengUniversity of Algarve, ESGHT/CINTURSTourism & Management Studies2182-84662011-01-0175461MODELING DOMESTIC TOURISM DEMAND IN GALICIA USING THE ARDL APPROACHMANUEL GONZÁLEZ-GÓMEZ0MARCOS ÁLVAREZ-DÍAZ 1MARISOL OTERO-GIRÁLDEZ PhD, Department of Applied Economics, University 2University of VigoUniversity of VigoUniversity of VigoTourism is one of the most important sectors for the economy of Galicia (North-west of Spain). The aim of our study is to find the most important socio-economic factors that statistically influence the domestic tourism demand for Galicia. For this purpose, we make use of the ARDL bounds testing cointegration approach (Pesaran et al., 2001). Once the main influencing factors are known, we construct an econometric model using a general-tospecific ARDL modeling procedure. The estimated coefficients of the model allow us to quantify the impact of the influencing factors on the Galician domestic tourism demand. According to our results, the income elasticity of demand tends to be unitary; that is, an increase of 1 per cent in the income of Spanish residents produces a rise of around 1 per cent in the domestic tourism demand. Moreover, the Eastern vacations and the celebration of the Holy Year increase the tourism demand by around 11 per cent. Finally, the economic crisis and the differential of inflation between Galicia and the rest of Spain decrease the tourism demand in a 7.5 per cent.https://tmstudies.net/index.php/ectms/article/view/334/551domestic tourism demand modelingardl approachbootstrappinggalicia |
| spellingShingle | MANUEL GONZÁLEZ-GÓMEZ MARCOS ÁLVAREZ-DÍAZ MARISOL OTERO-GIRÁLDEZ PhD, Department of Applied Economics, University MODELING DOMESTIC TOURISM DEMAND IN GALICIA USING THE ARDL APPROACH Tourism & Management Studies domestic tourism demand modeling ardl approach bootstrapping galicia |
| title | MODELING DOMESTIC TOURISM DEMAND IN GALICIA USING THE ARDL APPROACH |
| title_full | MODELING DOMESTIC TOURISM DEMAND IN GALICIA USING THE ARDL APPROACH |
| title_fullStr | MODELING DOMESTIC TOURISM DEMAND IN GALICIA USING THE ARDL APPROACH |
| title_full_unstemmed | MODELING DOMESTIC TOURISM DEMAND IN GALICIA USING THE ARDL APPROACH |
| title_short | MODELING DOMESTIC TOURISM DEMAND IN GALICIA USING THE ARDL APPROACH |
| title_sort | modeling domestic tourism demand in galicia using the ardl approach |
| topic | domestic tourism demand modeling ardl approach bootstrapping galicia |
| url | https://tmstudies.net/index.php/ectms/article/view/334/551 |
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