Economies

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9 pages, 267 KiB

Open AccessArticle

The Rental Prices of the Apartments under the New Tourist Environment: A Hedonic Price Model Applied to the Spanish Sun-and-Beach Destinations

by José Francisco Perles Ribes, Luis Moreno Izquierdo, Ana Ramón Rodríguez and María Jesús Such Devesa

Economies 2018, 6(2), 23; https://doi.org/10.3390/economies6020023 - 3 Apr 2018

Cited by 17 | Viewed by 6815

Abstract

The purpose of this article is to estimate a model of hedonic prices that is applied to apartments that are rented in the Spanish coastline, based on data that has been provided by Tecnitasa. The results confirm the relevance of the determinants that [...] Read more.

The purpose of this article is to estimate a model of hedonic prices that is applied to apartments that are rented in the Spanish coastline, based on data that has been provided by Tecnitasa. The results confirm the relevance of the determinants that were previously identified by the literature and point to new determinants, such as tourism competitiveness and online reputation, as future drivers of prices in the new tourist environment. Full article

(This article belongs to the Special Issue Tourism Economics)

250 KiB

Open AccessArticle

The Effects of Real Exchange Rates and Income on International Tourism Demand for the USA from Some European Union Countries

by Serdar Ongan, Cem Işik and Dilek Özdemir

Economies 2017, 5(4), 51; https://doi.org/10.3390/economies5040051 - 18 Dec 2017

Cited by 51 | Viewed by 9917

Abstract

This paper investigates the effects of real exchange rates and income on inbound tourism demand (tourist arrivals) from Germany, France, the UK, the Netherlands, Italy, Spain, and Sweden to the USA over the period 1996Q3–2015Q1. To achieve this aim, the Harmonized Index of [...] Read more.

This paper investigates the effects of real exchange rates and income on inbound tourism demand (tourist arrivals) from Germany, France, the UK, the Netherlands, Italy, Spain, and Sweden to the USA over the period 1996Q3–2015Q1. To achieve this aim, the Harmonized Index of Consumer Prices (HICP) for Restaurants and Hotels was used for the first time—instead of using the general Consumer Price Index (CPI)—to transform the nominal exchange rate into the real exchange rate as an independent variable in tourism demand analysis models. Panel co-integration analysis under the cross-sectional dependence (CD) test and common correlated effects (CCE) approach was applied. Empirical results show that tourists visiting the USA are more sensitive to changes in the real exchange rate than changes in GDP. While French tourists respond highly to the GDP, British tourists respond highly to the real exchange rate. It should also be noted that the UK, having the highest responsiveness to the real exchange rate, is a country outside the Eurozone and also intends to leave the European Union. Full article

(This article belongs to the Special Issue Tourism Economics)

1474 KiB

Open AccessArticle

Analysis of Supply and Demand to Enhance Educational Tourism Experience in the Smart Park of Yogyakarta, Indonesia

by Ani Wijayanti, Janianton Damanik, Chafid Fandeli and Sudarmadji

Economies 2017, 5(4), 42; https://doi.org/10.3390/economies5040042 - 13 Nov 2017

Cited by 6 | Viewed by 9815

Abstract

The Smart Park (also known as Taman Pintar) is a major educational tourist destination in Yogyakarta, which offers a variety of attractions that are very interesting for tourists. The main purpose of tourists visiting Smart Park is to obtain an educational tourism experience. [...] Read more.

The Smart Park (also known as Taman Pintar) is a major educational tourist destination in Yogyakarta, which offers a variety of attractions that are very interesting for tourists. The main purpose of tourists visiting Smart Park is to obtain an educational tourism experience. This subjective experience raises specific challenges for Smart Park as it works towards being a competitive destination. The purpose of this study is to analyze the aspects of the educational tourism experience that are affected by tourism demand and supply. Data were collected from surveys that were sent to 150 respondents and were analyzed using path analysis. The results show that tourism demand and supply contributed to the variation of tourism activities by 45.1%, while the remaining was explained by other variables, such as national budget, local budget, ticket sale, and cooperation with some stakeholders. Tourism supply had a higher effect than tourism demand. Tourism demand did not particularly affect tourism experience. However, the results of the path analysis indicate that tourism supply had direct and indirect effects on tourism experience through the variation of tourism activities, with the indirect effect being the most predominant. In the management of Smart Park, there is still a gap between tourism demand and supply, so the tourism experience has not been maximized to its full potential. Full article

(This article belongs to the Special Issue Tourism Economics)

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420 KiB

Open AccessArticle

Analyzing the Tourism–Energy–Growth Nexus for the Top 10 Most-Visited Countries

by Cem Işik, Eyüp Doğan and Serdar Ongan

Economies 2017, 5(4), 40; https://doi.org/10.3390/economies5040040 - 30 Oct 2017

Cited by 60 | Viewed by 9067

Abstract

By using the Emirmahmutoglu–Kose bootstrap Granger non-causality method, this study explores the directions of causality among tourist arrivals, tourism receipts, energy consumption and economic growth for the top 10 most-visited countries (France, the USA, Spain, China, Italy, Turkey, Germany, the United Kingdom, Russia, [...] Read more.

By using the Emirmahmutoglu–Kose bootstrap Granger non-causality method, this study explores the directions of causality among tourist arrivals, tourism receipts, energy consumption and economic growth for the top 10 most-visited countries (France, the USA, Spain, China, Italy, Turkey, Germany, the United Kingdom, Russia, and Mexico) in the world. This study finds a variety of causal directions between the pair of analyzed variables for each country and the panel. Since cross-sectional dependence exists across the top countries for the analyzed variables, the bootstrap Granger causality test that accounts for the mentioned issue in the estimation process presumably produces reliable and accurate outputs. Further results and policy implications are discussed in this empirical study. Full article

(This article belongs to the Special Issue Tourism Economics)

694 KiB

Open AccessArticle

The Nature of Spain’s International Cultural Tourism throughout the Economic Crisis (2008–2016): A Macroeconomic Analysis of Tourist Arrivals and Spending

by Carmen Hidalgo and Olivier Maene

Economies 2017, 5(3), 32; https://doi.org/10.3390/economies5030032 - 28 Aug 2017

Cited by 10 | Viewed by 12450

Abstract

Since the global economic and financial crisis of 2008, tourism has taken up a central position in the recovery of Spain’s severely damaged economy. If the first years after the recession signaled a considerable decline of the tourism sector, the later years in [...] Read more.

Since the global economic and financial crisis of 2008, tourism has taken up a central position in the recovery of Spain’s severely damaged economy. If the first years after the recession signaled a considerable decline of the tourism sector, the later years in which those countries with the highest numbers of outgoing tourists to Spain had recovered, consolidated the tourism sector as one of the principal drivers of economic development. Testament to this are its contribution to a growing Gross Domestic Product (GDP) and decreasing unemployment, and its ability to stabilize the country’s balance of payments. On the other hand, tourism has also proven to be a complex economic sector, in which various factors have come together in different forms. Faced with the impossibility to consider every single one of these factors, this study has limited itself to researching those indicators that shape the international character of Spain’s cultural tourism sector, and subsequently determining how this sector performed from a macroeconomic perspective. The outcome of this study is to detect patterns that may allow for the development of more effective means for managing cultural tourism. The descriptive analysis of official cultural and tourism statistical data, and the synthetic representation of the results in various tables and graphs indicate that cultural tourism, at least in terms of international tourist arrivals, has indeed remained stable throughout the crisis, even though it has not grown significantly ever since. Full article

(This article belongs to the Special Issue Tourism Economics)

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254 KiB

Open AccessArticle

From Clusters to Smart Specialization: Tourism in Institution-Sensitive Regional Development Policies

by Maximilian Benner

Economies 2017, 5(3), 26; https://doi.org/10.3390/economies5030026 - 17 Jul 2017

Cited by 31 | Viewed by 8761

Abstract

In the European Union and its neighborhood, regional development has increasingly come to focus on agglomerations during the last three decades. Notably, during the 1990s and early 2000s, clustering was the major policy focus in regional development. Currently, the concept of smart specialization [...] Read more.

In the European Union and its neighborhood, regional development has increasingly come to focus on agglomerations during the last three decades. Notably, during the 1990s and early 2000s, clustering was the major policy focus in regional development. Currently, the concept of smart specialization is applied all over the European Union and is attracting interest in the EU’s neighborhood. The tourism sector particularly tends to agglomerate regionally and even locally. While there is a large body of literature describing tourism clusters and while tourism features as a priority sector in many regional development strategies such as smart specialization strategies, there is a research gap on policy approaches applying agglomeration-oriented policy concepts to tourism destinations in an institution-sensitive way. This article argues that both cluster policy and smart specialization can be of considerable value for institution-sensitive tourism development, either when adapted to the specificities of the tourism sector or when integrating tourism development into wider, cross-sectoral strategies of regional development. Such a policy can be a valuable tool for local and regional development, provided that policies are designed in an institution-sensitive manner and respond to the particular institutional context prevailing in a tourist destination. The article illustrates some preliminary thoughts for institution-sensitive tourism development through cluster policy and smart specialization in Cyprus, Israel, and Tunisia. Full article

(This article belongs to the Special Issue Tourism Economics)

297 KiB

Open AccessArticle

Regime-Switching Effect of Tourism Specialization on Economic Growth in Asia Pacific Countries

by Geng-Nan Chiang, Wei-Ying Sung and Wen-Guu Lei

Economies 2017, 5(3), 23; https://doi.org/10.3390/economies5030023 - 27 Jun 2017

Cited by 13 | Viewed by 7137

Abstract

In the past 30 years, many studies have focused on exploring the relationship between tourism development and economic growth. However, there has been no consensus reached concerning of the relationship. This study will attempt to clarify the relationship between tourism development and economic [...] Read more.

In the past 30 years, many studies have focused on exploring the relationship between tourism development and economic growth. However, there has been no consensus reached concerning of the relationship. This study will attempt to clarify the relationship between tourism development and economic growth. The purpose of this study is to analyze the relationship between tourism development and economic growth. This study applies the Panel Smooth Transition Regression Model (PSTR) proposed by ^{Gonzalez et al.} (²⁰⁰⁵) to investigate the regime-switching effect of tourism specialization on economic growth in Asia Pacific countries over the period 1996–2009. The results are as follows: (a) there were regime-switching effects of tourism specialization on economic growth; (b) the tourism specialization on economic growth has a better explanation for the effects of non-linear PSTR than linear PLS (Panel Least Squares); (c) in medium degree of tourism specialization countries (the value is between 0.0123~0.01663), tourism development has a significantly positive influence on economic growth, but consumption ability and investment ratios have a significantly negative influence on economic growth; (d) in low or high degree of tourism specialization countries (the value is below 0.0123 or above 0.01663), tourism development has a reduced influence on economic growth, and significantly positive influence on consumption ability and investment ratios. On the basis of these results, this study presents policy recommendations and areas for future research. Full article

(This article belongs to the Special Issue Tourism Economics)

399 KiB

Open AccessArticle

Willingness to Pay for Tourist Tax in Destinations: Empirical Evidence from Istanbul

by Gurel Cetin, Zaid Alrawadieh, Mithat Zeki Dincer, Fusun Istanbullu Dincer and Dimitri Ioannides

Economies 2017, 5(2), 21; https://doi.org/10.3390/economies5020021 - 15 Jun 2017

Cited by 39 | Viewed by 18823

Abstract

Revenue generated from tourism taxes constitutes an important financial resource for local governments and tourism authorities to both ensure tourism sustainability and enhance the quality of tourist experiences. In order for tourism policy makers to create an efficient and fair tax system in [...] Read more.

Revenue generated from tourism taxes constitutes an important financial resource for local governments and tourism authorities to both ensure tourism sustainability and enhance the quality of tourist experiences. In order for tourism policy makers to create an efficient and fair tax system in tourism destinations, it is crucial to understand travelers’ perceptions concerning willingness to pay (WTP), tax rates, and their optimal allocation. The objectives of this paper, therefore, are to evaluate tourism taxes as a compensation tool to cover the costs of tourism and to measure tourists’ WTP. The paper also suggests a fair allocation of tax revenues based on tourists’ perceptions. A qualitative approach was used and data were collected through semi-structured in-depth interviews with international travelers to Istanbul, Turkey. The findings suggest that tourists are more likely to pay an additional amount of tax when this is earmarked for improvements in their experiences, but they are reluctant to take on liability concerning matters relating to destination sustainability. Based on the travelers’ perceptions, the paper also identified areas that need investment to improve tourist experiences. An interesting highlight of this paper is that the majority of surveyed respondents reported that their travel decisions would not be negatively affected even if the total cost of their vacation increased by one third. The findings are expected to offer fresh and much-needed insights into tourist taxation for tourism policy makers and stakeholders. Full article

(This article belongs to the Special Issue Tourism Economics)

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604 KiB

Open AccessArticle

(Un)supported Current Tourism Development in UNESCO Protected Site: The Case of Old City of Dubrovnik

by Ivana Pavlić, Ana Portolan and Barbara Puh

Economies 2017, 5(1), 9; https://doi.org/10.3390/economies5010009 - 7 Mar 2017

Cited by 14 | Viewed by 9430

Abstract

The main purpose of this paper is to explore and determine perceptions of residents living in the United Nations Educational, Scientific and Cultural Organization (UNESCO) protected site Old City of Dubrovnik (OCD) towards tourism development. Uncontrolled tourism expansion has impact on local residents’ [...] Read more.

The main purpose of this paper is to explore and determine perceptions of residents living in the United Nations Educational, Scientific and Cultural Organization (UNESCO) protected site Old City of Dubrovnik (OCD) towards tourism development. Uncontrolled tourism expansion has impact on local residents’ life and on their (un)support for specific form of tourism development. Comprehension of residents’ perceptions is crucial for realization of adequate tourism development and for mutual satisfaction of tourism demand and supply. Therefore, the aim is to test the model of residents’ perceptions of economic, socio-cultural and environmental impacts of tourism on their (un)support for specific form of tourism development. To realize the purpose of this research, Cronbach alpha, explorative (EFC) and confirmatory (CFA) factor analysis, and structural equation modeling (SEM) were applied. The findings indicate that there is a direct relationship between residents who perceive positive and negative economic, socio-cultural and environmental impacts of tourism and their (un)support for tourism development. This paper points out the role and significance of the permanent residents’ perceptions research concerning the issues that are related to the quality tourism development due to the high interaction between local residents, tourists and local tourism development especially in the areas under the protection of UNESCO. Full article

(This article belongs to the Special Issue Tourism Economics)

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