Modelling air passenger arrivals in the Balearic and Canary Islands, Spain
Abstract:This paper models daily air passenger arrivals and their volatility for the Balearic and Canary Islands, Spain. Due to climatic conditions, tourism seasonality is clear in the Balearics, with an increasing number of arrivals during the winter months. In the Canary Islands, the seasonal pattern is different, with decreasing numbers in recent years. Three univariate conditional volatility models are estimated for both the Balearics and the Canaries, concentrating on empirical issues relating to short- and long-run persistence, as well as the symmetric and asymmetric effects of positive and negative shocks of equal magnitude on volatility.
Document Type: Research Article
Publication date: September 1, 2009
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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