“…This is a robust technique which is widely used in the tourism context and ensures that results obtained are reliable (Seetaram, 2010(Seetaram, , 2012aSeetaram and Petit, 2012). As yet, competitiveness indices have not been widely used as a price variable in tourism demand analysis, though they are beginning to be used (see, Athanasopoulos et al, 2014;Dwyer et al, 2014, Forsyth et al 2012and Etzo et al, 2014. To illustrate the superiority of PCI over the REX, the model is estimated using each separately as the proxy for prices.…”