British tourism demand elasticities in Mediterranean countries

Autor:	Joseph Falzon, William Gatt
Rok vydání:	2014
Předmět:	Mediterranean climate Economics and Econometrics Almost ideal demand system Economy Economics Demographic economics Sample (statistics) Market share Destinations Tourism
Zdroj:	Applied Economics. :1-14
ISSN:	1466-4283 0003-6846
DOI:	10.1080/00036846.2014.934432
Popis:	We use the almost ideal demand system (AIDS) model developed by Deaton and Muellbauer (1980) to estimate tourism demand elasticities for a number of Mediterranean countries (Cyprus, Greece, Italy, Malta, Portugal, Spain and Turkey) in relation to tourists originating from the United Kingdom during the period 1963 to 2009. Using the restrictions imposed by theory, we find that the model is able to explain developments in market shares reasonably well, despite the large and at times sudden changes in market shares over the sample period. Our share estimates indicate that while Spain and Portugal managed to keep a stable market share over time, Malta and especially Italy lost market share to Cyprus, Greece and Turkey. Overall, we observe that Italy and Spain have the lowest own-price elasticities, whereas Greece, Portugal, Spain and Turkey are expenditure inelastic holiday destinations. We also improve over the traditional treatment of the AIDS model in the literature by studying the stability of the estimat...
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::ba07bf7e9b964db0e75b2cc4149ef408 https://doi.org/10.1080/00036846.2014.934432 Zobrazit plný text záznamu