Modelling international tourism demand to Thailand: an augmented gravity approach.

For the exchange rate variable, a 1% increase in the exchange rate between the source country and Thailand is estimated to result in an average drop of 0.031% in tourism demand. (1) Graph HT <math xmlns="http://www.w3.org/1998/Math/MathML"><mo>ln</mo><mi>T</mi><mrow><msub><mi>A</mi><mrow><mi>i</mi><mi>t</mi></mrow></msub></mrow><mo>=</mo><mrow><msub><mi> </mi><mn>0</mn></msub></mrow><mo>+</mo><mrow><msub><mi> </mi><mn>1</mn></msub></mrow><mo form="prefix">ln</mo><mi>T</mi><mrow><msub><mi>A</mi><mrow><mi>i</mi><mi>t</mi><mo>-</mo><mn>1</mn></mrow></msub></mrow><mo>+</mo><mrow><msub><mi> </mi><mn>2</mn></msub></mrow><mo form="prefix">ln</mo><mrow><msub><mi>D</mi><mrow><mi>i</mi><mi>t</mi></mrow></msub></mrow><mo>+</mo><mrow><msub><mi> </mi><mn>3</mn></msub></mrow><mo form="prefix">ln</mo><mi>G</mi><mi>D</mi><mrow><msub><mi>P</mi><mrow><mi>i</mi><mi>t</mi></mrow></msub></mrow><mo>+</mo><mrow><msub><mi> </mi><mn>4</mn></msub></mrow><mo form="prefix">ln</mo><mi>P</mi><mrow><msub><mi>D</mi><mrow><mi>i</mi><mi>t</mi></mrow></msub></mrow><mo>+</mo><mrow><msub><mi> </mi><mn>5</mn></msub></mrow><mo form="prefix">ln</mo><mi>R</mi><mrow><msub><mi>E</mi><mrow><mi>i</mi><mi>t</mi></mrow></msub></mrow><mo>+</mo><mrow><msub><mi> </mi><mn>6</mn></msub></mrow><mi>I</mi><mrow><msub><mi>Q</mi><mrow><mi>i</mi><mi>t</mi></mrow></msub></mrow><mo>+</mo><mrow><msub><mi> </mi><mn>2</mn></msub></mrow><mi>C</mi><mi>o</mi><mi>v</mi><mi>i</mi><mrow><msub><mi>d</mi><mrow><mn>2020</mn></mrow></msub></mrow><mo>+</mo><mrow><msub><mi> </mi><mrow><mi>i</mi><mi>t</mi></mrow></msub></mrow></math> ht I i refers to the country, t refers to the year, ln refers to the natural logarithm. i Annual data of tourists visiting Thailand from top thirty-seven countries from 2010 to 2020 are presented in five-year averages. [Extracted from the article]