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Determinants of inbound tourists in Cambodia : a dynamic panel data approach

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  • Tanaka, Kiyoyasu

Abstract

Understanding the determinants of tourism demand is crucial for the tourism sector. This paper develops a dynamic panel model to examine the determinants of inbound tourists to Siem Reap airport, Phnom Penh airport, and land and waterway borders in Cambodia. Consistent with the consumer theory of tourism consumption, a 10% increase in the origin country GDP per capita is predicted to increase the number of tourist visits to Siem Reap airport by 5.8%. A 10% increase in the real exchange rate between the origin country and Cambodia is predicted to decrease the number of tourist visits by 0.89%. In contrast, the number of foreign tourists in a previous period has little effect on the number of foreign tourists in the current period. Additionally, the determinants are different by the mode of entry to Cambodia.

Suggested Citation

  • Tanaka, Kiyoyasu, 2016. "Determinants of inbound tourists in Cambodia : a dynamic panel data approach," IDE Discussion Papers 600, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    • Handle: RePEc:jet:dpaper:dpaper600
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    References listed on IDEAS

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    1. David Roodman, 2009. "How to do xtabond2: An introduction to difference and system GMM in Stata," Stata Journal, StataCorp LP, vol. 9(1), pages 86-136, March.
    2. Guido Candela & Paolo Figini, 2012. "The Economics of Tourism Destinations," Springer Texts in Business and Economics, in: The Economics of Tourism Destinations, edition 127, chapter 0, pages 73-130, Springer.
    3. Guido Candela & Paolo Figini, 2012. "The Economics of Tourism Destinations," Springer Texts in Business and Economics, Springer, edition 127, number 978-3-642-20874-4, April.
    4. Nuno Carlos Leit o, 2015. "Portuguese Tourism Demand: A Dynamic Panel Data Analysis," International Journal of Economics and Financial Issues, Econjournals, vol. 5(3), pages 673-677.
    5. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 277-297.
    6. Windmeijer, Frank, 2005. "A finite sample correction for the variance of linear efficient two-step GMM estimators," Journal of Econometrics, Elsevier, vol. 126(1), pages 25-51, May.
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    More about this item

    Keywords

    Tourism; Consumers; Tourism demand; Tourism sector; Dynamic panel model; Cambodia;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

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