Modelling International Monthly Tourist in Spain*

Abstract

This article investigates the degree of persistence in the international monthly tourist time series in Spain using long memory (fractional integration) techniques. Our findings can be summarized as follows. The two standard hypotheses of integer degrees of differentiation, i.e., the I(0) and the I(1) behaviour, are clearly rejected. The series is found to be I(d) with a value of d in the interval (0.421, 0.780) thus implying long memory behaviour and mean reverting behaviour. However, if a structural break is considered, it takes place at May 2007, and then, the two subsamples present orders of integration which are above 1 and thus rejecting the mean reverting hypothesis.

A DEA Approach for Evaluating the Labor Efficiency in the Rural Hotel Industry

“…Spain is the world leader in holiday tourism, ranking second in terms of tourist income and number of tourists (World Tourism Organization [UNWTO]). This sector shows a dynamic behavior in continuous expansion even in periods of crisis and in synergy with other sectors, being one of the axes for the economic development of the country (Cuñado et al, 2011).…”