Measuring price elasticities of demand for outbound tourism using competitiveness indices

Seetaram, Neelu; Forsyth, Peter; Dwyer, Larry

doi:10.1016/j.annals.2015.10.004

Cited by 76 publications

(75 citation statements)

References 34 publications

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“…Estimated according to [6,24]. Our results/findings are in sharp contrast with the EKC hypothesis while (at the same time) being completely in line with the results of Seetaram et al [25].…”

Section: Different Scenarios For Reducing Air Transport Co 2 Emissionscontrasting

confidence: 57%

“…For example, a study by Seetaram et al [25] points out that a 10% increase in income will cause air transport (and consequently CO 2 emissions) to rise by 23.9% in the long run. Their results clearly show that an increase in income will lead to a greater-than-proportionate rise in air transport.…”

Section: Different Scenarios For Reducing Air Transport Co 2 Emissionsmentioning

confidence: 99%

See 1 more Smart Citation

Challenges Ahead: Mitigating Air Transport Carbon Emissions

Jovanovic¹,

Vracarevic²

2016

Pol. J. Environ. Stud.

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The Intergovernmental Panel on Climate Change [1] has declared that "warming of the climate system is unequivocal" and concluded that most of the observed increase in global average temperature since the mid-20th century is the result of human activities that are increasing greenhouse gas (GHG) concentrations in the atmosphere.The IPCC [1] further projected that the pace of climate change is going to accelerate with continued GHG emissions, and that even if atmospheric concentrations of GHGs were stabilized at current levels, the Earth would continue to warm as a result of past GHG emissions and feedbacks in the global climate system [2].The IPCC [1] suggests that even if CO 2 emissions decline by 85% (of 2000 emissions) by 2050, average global warming is likely to remain between 2.0ºC and 2.4ºC by the end of the century [2].Hence, global atmospheric concentrations of carbon dioxide (CO 2 ) should be kept below 450 ppmv. In order to achieve this, a reduction of GHG emissions by about 80% is required by 2050 for developed economies, while at the same time room for development for developing countries is created.Pol. J. Environ. Stud. Vol. 25, No. 5 (2016), 1975-1984 AbstractIn this paper we confront widely accepted global climate stabilization goals (70% reduction of CO 2 emissions) with the International Civil Aviation Organization's (ICAO) forecasts of future commercial aviation growth, in order to explore the real possibilities of realizing these climate stabilization goals. By using ICAO forecasts, we clearly show that, instead of the proclaimed 70% reduction of CO 2 emissions, air transport's CO 2 emissions are going to rise five-fold (4.9 times) in the 2005-40 period. But even if a 70% increase of aviation's energy efficiency and reduction of CO 2 emissions could be somehow (miraculously) achieved, CO 2 emissions of air transport would be higher by 50% in 2040 (than in 2005), due to the sudden increase in the volume of air-transport tourist trips. So, if the aim is to achieve ambitious energy consumption and GHG reduction for air transport within the next few decades, policies should aim at reducing total consumption, which means reducing VKT -not just vehicle-specific consumption. Due to the extremely high growth rates in the volume of air traffic, it is highly unlikely that technical progress of engines will be sufficient to reduce overall emissions or even keep them at today's levels. Hence, the policy focus should shift to more rigorous and efficient implementation of market-driven instruments, which, apart from creating incentives to develop and use low-emission technologies, can also reduce the demand for travel.

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Section: Different Scenarios For Reducing Air Transport Co 2 Emissionscontrasting

confidence: 57%

Section: Different Scenarios For Reducing Air Transport Co 2 Emissionsmentioning

confidence: 99%

Challenges Ahead: Mitigating Air Transport Carbon Emissions

Jovanovic¹,

Vracarevic²

2016

Pol. J. Environ. Stud.

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“…Indeed, there is a plethora of studies that focus their interest on the drivers of outbound tourism, which most commonly use macroeconomic variables, such as unemployment rate, gross domestic product and money supply (see, indicatively, Lim, 1997;Oh, 2005;Halicioglou, 2010;Smeral, 2012;Eugenio-Martin & CamposSoria, 2014;Seetaram, Forsyth, & Dwyer, 2016).…”

Section: Introductionmentioning

confidence: 99%

Sentiment, mood and outbound tourism demand

Dragouni

Filis

Gavriilidis

et al. 2016

Annals of Tourism Research

121

110

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We investigate spillover effects from sentiment and mood shocks on US outbound tourism demand from 1996 until 2013. We use the Index of Consumer Sentiment and Economic Policy Uncertainty Index as proxies for sentiment and the S&P500 as a proxy for mood. We find a moderate to high interrelationship among sentiment, mood and outbound tourism demand. More importantly, sentiment and mood indicators are net transmitters of spillover shocks to outbound tourism demand. The magnitude of spillover effects sourced by sentiment and mood is time-varying and depends on certain socio-economic and environmental events. Our results have important implications for policymakers and travel agents in their efforts to predict tourism arrivals from key origin countries and to plan their tourism strategy.

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“…Lim and Zhu (2017) applied dynamic heterogeneous panel data analysis for Singapore and found that long-run income (price) elasticity is positively (negatively) significant. On the other hand, Seetaram et al (2016) introduced the price competitiveness index (PCI) as a new index outperforming the real exchange rate in their model. Yazdi and Khanalizadeh (2017) applied a gravity framework for the USA with 14 countries including our sample countries.…”

Section: Literature Reviewmentioning

confidence: 99%

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

2017

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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.

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Measuring price elasticities of demand for outbound tourism using competitiveness indices

Cited by 76 publications

References 34 publications

Challenges Ahead: Mitigating Air Transport Carbon Emissions

Challenges Ahead: Mitigating Air Transport Carbon Emissions

Sentiment, mood and outbound tourism demand

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

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