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International tourism specialisation of small countries
- Source :
- International Journal of Tourism Research. 8:1-12
- Publication Year :
- 2006
- Publisher :
- Wiley, 2006.
-
Abstract
- International tourism has expanded enormously over recent decades, fuelled by changing consumer tastes, advances in transport and new holiday destinations. The present study aims at analysing the linkages between economic growth and tourism-based economies. An econometric model for a selected number of small countries has been implemented to investigate the nature, magnitude and overall significance of the demand for tourism. Countries were selected to capture regional diversity, differences in market orientation and a range of experiences, from emerging to long-standing industries. The results show that tourism can be a significant engine of economic growth, when the elasticity of substitution between manufacturing goods and tourism services is < 1. Finally two stylised facts emerged, namely: (i) countries specialised in tourism register good economic performances; (ii) these same countries have small dimensions as defined by international trade theory. Copyright © 2006 John Wiley & Sons, Ltd.
- Subjects :
- Elasticity of substitution
business.industry
Tourism geography
Geography, Planning and Development
Transportation
International trade
Destinations
Econometric model
Ecotourism
Tourism, Leisure and Hospitality Management
Market orientation
Economics
Economic geography
business
Tourism
Nature and Landscape Conservation
Diversity (business)
Subjects
Details
- ISSN :
- 15221970 and 10992340
- Volume :
- 8
- Database :
- OpenAIRE
- Journal :
- International Journal of Tourism Research
- Accession number :
- edsair.doi...........e542c8b0ca404b6ba7cfe55405dd8bad