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The Convergence Dynamics of Per Capita International Tourist Arrivals

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  • James E. Payne
  • Junsoo Lee
  • Skyler Darden

Abstract

The study highlights the importance of comovements in tests of stochastic convergence in per capita international tourist arrivals for a large multi-country panel. LM unit root tests with allowance for comovements and structural breaks reveals a significant reduction in the number of rejections of the unit root null hypothesis when compared to LM unit root tests without comovements. Additional analysis allowing for Fourier gradual breaks confirms our findings of limited evidence of stochastic convergence. Upon further examination of convergence clubs, we identify four convergence clusters for per capita international tourist arrivals distinguished by whether a country is considered a small island economy.

Suggested Citation

  • James E. Payne & Junsoo Lee & Skyler Darden, 2025. "The Convergence Dynamics of Per Capita International Tourist Arrivals," The International Trade Journal, Taylor & Francis Journals, vol. 39(2), pages 95-114, March.
    • Handle: RePEc:taf:uitjxx:v:39:y:2025:i:2:p:95-114
    DOI: 10.1080/08853908.2023.2267153
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