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The Relationship between Macroeconomic Factors and Tourism Demand for OIC Countries

Author

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  • Shaidathul Jemin

    (Faculty of Hotel and Tourism Management, Universiti Teknologi Mara Author-2-Name: Saizal Pinjaman Author-2-Workplace-Name: "Centre for Economic Development and Policy, Universiti Malaysia Sabah " Author-3-Name: Abdul Rahim Ridzuan Author-3-Workplace-Name: "Faculty of Business and Management, Universiti Teknologi Mara " Author-4-Name: Suddin Lada Author-4-Workplace-Name: "Faculty of Business, Economics and Accountancy, Universiti Malaysia Sabah " Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)

Abstract

" Objective - The current paper investigates the relationship between macroeconomic factors and tourism demand for OIC countries. Methodology - The current paper employed the panel quantile regression analysis to assess the relationship. Findings - It is demonstrated that the impact of macroeconomic factors on tourism receipts is heterogeneous depending on the levels of tourism spending in the OIC host countries. The exchange rate and income exhibit a positive relationship with tourism demand. Meanwhile, inflation presents a negative relationship towards tourism demand at the lower level of tourism demand yet is positively related to the higher level. On the other hand, trade openness is negatively related to tourism receipts in general, and the strength of the relationship decreases at a higher level of demand. Novelty - Compared to previous studies, the impact of the macroeconomic factors was assessed across different levels of tourism demand. Type of Paper - Empirical"

Suggested Citation

  • Shaidathul Jemin, 2023. "The Relationship between Macroeconomic Factors and Tourism Demand for OIC Countries ," GATR Journals jber238, Global Academy of Training and Research (GATR) Enterprise.
    • Handle: RePEc:gtr:gatrjs:jber238
    DOI: https://doi.org/10.35609/jber.2023.8.2(2)
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    References listed on IDEAS

    as
    1. Martins, Luís Filipe & Gan, Yi & Ferreira-Lopes, Alexandra, 2017. "An empirical analysis of the influence of macroeconomic determinants on World tourism demand," Tourism Management, Elsevier, vol. 61(C), pages 248-260.
    2. Melody Lo & Donald Lien & David C. Bojanic, 2023. "The Impact of Cultural Institutes on International Tourism," The International Trade Journal, Taylor & Francis Journals, vol. 37(1), pages 27-46, January.
    3. Yap, Ghialy & Allen, David, 2011. "Investigating other leading indicators influencing Australian domestic tourism demand," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 81(7), pages 1365-1374.
    4. Sarath Divisekera, 2013. "Tourism Demand Models: Concepts And Theories," World Scientific Book Chapters, in: Clement A Tisdell (ed.), Handbook of Tourism Economics Analysis, New Applications and Case Studies, chapter 2, pages 33-66, World Scientific Publishing Co. Pte. Ltd..
    5. Sangram Keshari JENA & Aruna Kumar DASH, 2020. "Does Exchange Rate Volatility Affect Tourist Arrival In India: A Quantile Regression Approach," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 20(2), pages 65-78.
    6. Ogechi Adeola & Nathaniel Boso & Olaniyi Evans, 2018. "Drivers of international tourism demand in Africa," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 53(1), pages 25-36, January.
    7. David Powell, 2022. "Quantile regression with nonadditive fixed effects," Empirical Economics, Springer, vol. 63(5), pages 2675-2691, November.
    8. Akhil Sharma & Tarun Vashishat & Abdul Rishad, 2019. "The consequences of exchange rate trends on international tourism demand: evidence from India," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 21(2), pages 270-287, December.
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    Cited by:

    1. Muhammad Fakruhayat Ab Rashid & Sharifah Rohayah Sheikh Dawood, 2024. "Statistical Evaluation of Webometric Analysis of Tourism Websites in ASEAN Countries," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(2), pages 2389-2406, February.

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    More about this item

    Keywords

    Tourism Demand; Macroeconomic Factors; OIC countries; Quantile Regression;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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