Authors: Hanly, Paul; Wade, Garret

Source: Tourism Economics, Volume 13, Number 2, June 2007 , pp. 319-327(9)

Publisher: IP Publishing Ltd

Abstract:

The monetary contribution of inbound North American tourism to the Irish exchequer is economically substantial, generating more tourist revenue earnings per capita in Ireland than visitors from any other country. The purpose of this paper is to present a macroeconometric analysis of North American tourist expenditure in Ireland, thus providing an insight into the effects on expenditure patterns of the adjustment of key macroeconomic variables. Using an econometric causal model, key macroeconomic and demographic variables are regressed on real expenditure of the North American, US and Canadian regions. Among the main findings, it is revealed that the real exchange rate variable and the over-45 age cohort exert a positive and statistically significant result in the case of all three regions. The paper acknowledges that appropriate strategies are required to maximize the potential of those subsectors providing the greatest 'value for entry' from an Irish tourism perspective to enable the future proliferation of inbound revenues for the tourism industry.

Keywords: NORTH AMERICAN TOURIST DEMAND; EXPENDITURE PATTERNS; AGE COHORTS; REGRESSION ANALYSIS; IRELAND

Document Type: Research article

DOI: http://dx.doi.org/10.5367/000000007780823159

Publication date: 2007-06-01

More about this publication?

• Tourism Economics, published bimonthly, is a peer-reviewed journal devoted to the economics and finance of tourism worldwide. Articles address the components of the tourism product (accommodation; restaurants; merchandizing; attractions; transport; entertainment; tourist activities); and the economic organization of tourism at micro and macro levels (market structure; role of public/private sectors; community interests; strategic planning; marketing; finance; economic development).

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