Narrow Results

This study aims to examine the interaction among tourism revenue (TOV), the real exchange rate (REX), and economic development in Vietnam throughout 1995–2019. Using the bivariate and multivariate wavelet frameworks, we examine the lead–lag connectedness, co-movement and dynamic associations between these indicators across various time and frequency domains. By doing so, we employ wavelet transform coherence (WTC), cross-wavelet transform (XWT), partial wavelet coherence (PWC) and multiple wavelet coherence (MWC) frameworks. The findings indicate low covariance but a positive and robust nexus between tourism demand (TOV), economic growth (gross domestic product (GDP)), and the REX in the time–frequency space. In the long run, interdependence between variables is primarily negative and weak. The outcomes of PWC and MWC reveal that REX and GDP determinants affect the TOV–GDP and TOV–REX relationships under different frequencies, respectively. These results are of interest and significance to the Vietnamese government and policymakers as the outcomes have important implications for informing their decision-making.

This paper examines the impact of COVID-19 on tourist hotel performance and tourism demand in Taiwan. We use population-based administrative data on tourist hotels and visits with official records of COVID-19 cases to estimate the effect of the disease on the industry. Results show that a 1% increase in the number of confirmed cases of COVID-19 decreased the total revenues, and the room revenues and food and beverage revenues of tourist hotels by 0.33%, 0.47% and 0.26%, respectively. Moreover, the impact of COVID-19 is heterogeneously distributed among tourist hotels of different quality. With respect to mechanism behind the negative effect of COVID-19 on tourist hotel performance, decreases in tourism demand is a driving factor. We find that a 1% increase in the number of confirmed cases of COVID-19 reduces the number of tourist visits by 0.10%.

We analysed the factors influencing the level of cross-border tourism from Brunei Darussalam to Eastern Malaysia based on a random survey of 675 Bruneian residents returning from land and sea trips to Eastern Malaysia and using simple statistical and multiple regression analysis. The results revealed that the age of the respondents, personal income, perceived quality of Eastern Malaysia as a better place to rest and relax, perceived quality of goods and services in Eastern Malaysia, use of alcohol by respondents and having family members and friends living in Eastern Malaysia were significant factors affecting the number of visits to Eastern Malaysia. This analysis was based on visits over the 12-month period prior to the survey, a period of relative price stability. Regression analysis of personal expenditures on goods and services of respondents during their most recently completed trip indicated that personal income, travelling with friends, number of days spent on the trip, perception of Eastern Malaysia as a better place to rest and relax and use of public transport were the significant factors affecting expenditures. We estimated that Bruneian residents spent about B$426 million a year on goods and services while visiting Eastern Malaysia, and this amount accounted for roughly 5.7% of Brunei's gross domestic product (GDP) in the year 2000.

This chapter reviews the conceptual and theoretical foundations underlying the specification of empirical tourism demand models. It begins with a review of basic concepts, theories, and the literature on the determinants of tourist flows. Its goal is to synthesise a conceptual framework within which issues in relation to tourism demand can be analysed systematically. The process of modelling and the specification of empirical demand models are discussed. This discussion includes a critical and up-to-date survey of the state of the art in consumer demand analysis, theoretical background, modelling procedures, and specification of theoretically consistent empirical demand models. The relative merits of the established demand systems and approaches are reviewed; the concluding remarks in this chapter are on the relative merits of each approach. Criteria are proposed for choosing between different available empirical demand models.

The objective of this chapter is to review the issues confronting applied researchers who rely on established demand systems to analyse specific issues in relation to tourism demand. In doing so, it concentrates on associated modifications and extensions to the base models proposed and applied in the recent literature, along with related model specification and econometric issues. The modifications include incorporating structural changes, seasonality, and other exogenous events that affect tourism demand over time. Extensions include dynamic versions of the base models. Finally, issues in relation to specification and estimation of singular demand systems are reviewed. The chapter concludes with an example of the way in which economic parameters drawn from empirical models are interpreted.