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Estimating International Tourism Demand to Spain Separately by the Major Source Markets

Author

Listed:
  • Marcos Alvarez-Díaz
  • Manuel González-Gómez
  • Mª Soledad Otero-Giraldez

Abstract

The objective of this paper is to estimate international tourism demand to Spain separately by major source markets (Germany, United Kingdom, France, Italy and The Netherlands) that represent 67% of the international tourism to Spain. In order to investigate how the tourism demand reacts to price and income changes, we apply the bounds testing approach to cointegration and construct confidence intervals using the bootstrap technique. The results show differences in tourism behavior depending on the countries of origin and corroborate the necessity of analyzing the source markets separately instead of focus on the estimation of a unique tourism demand from a number of countries to Spain.The number of overnight stays is more sensitive to income level in the source markets than to changes in the price levels. Income is the critical determinant of demand. International tourism behaves as a luxury good for visitors from each country of origin. The negative sign of price also corroborates the economic theory. Tourists from Germany and the Netherlands are more sensitive to income changes than citizens from Italy and the United Kingdom. Citizens from the last country react inelastic to price changes and the result is in line with previous studies that have analysed the outbound tourism demand in the United Kingdom.

Suggested Citation

  • Marcos Alvarez-Díaz & Manuel González-Gómez & Mª Soledad Otero-Giraldez, 2012. "Estimating International Tourism Demand to Spain Separately by the Major Source Markets," Working Papers 1204, Universidade de Vigo, Departamento de Economía Aplicada.
    • Handle: RePEc:vig:wpaper:1204
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    Cited by:

    1. Gabriela Mordecki & Ana Leiva & Nathalie Desplas, 2016. "Tourism demand for Mexico and Uruguay," Documentos de Trabajo (working papers) 16-09, Instituto de Economía - IECON.
    2. Haller Alina Petronela, 2017. "Growth Through Tourism In Developed European Countries. Case Study: France, Italy And Spain," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 6(1), pages 1-21, January.

    More about this item

    Keywords

    ARDL approach; Bootstrapping; Income demand elasticity; Price demand elasticity; Source markets;
    All these keywords.

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