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Home / Tourism Analysis, Volume 26, Number 1

Are Tourism Imports a Luxury or Necessity?

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Authors: Bojanic, David; Lo, Melody

Source: Tourism Analysis, Volume 26, Number 1, 2021, pp. 65-69(5)

Publisher: Cognizant Communication Corporation

DOI: https://doi.org/10.3727/108354220X15950810139337

This article compares the impact of economic development on the import demand for international trade and international (outbound) tourism using cointegration analysis on a panel of countries at the turn of the century. Initial evidence suggests that substantially different properties exist between the total import demand and the tourism import demand. In particular, the distinct difference lies in how each type of import demand responds to economic development. It can be concluded that international travel has become more of a necessity than a luxury in the process of economic development towards the end of the 20th century, especially in countries with higher levels of economic development. This result is in contrast to the documented stylized international pattern for aggregate import data.

Keywords: ECONOMIC DEVELOPMENT; INCOME ELASTICITY; PANEL COINTEGRATION; TOURISM IMPORT DEMAND

Document Type: Research Article

Publication date: 28 January 2021

This article was made available online on 18 July 2020 as a Fast Track article with title: "Are tourism imports a luxury or necessity?".

More about this publication?
  • Established in 1996, Tourism Analysis is an interdisciplinary journal that provides a platform for exchanging ideas and research in tourism and related fields. The journal aims to publish articles that explore a broad range of research subjects, including, but not limited to, the social, economic, cultural, environmental, and psychological aspects of tourism, consumer behavior in tourism, sustainable and responsible tourism, and effective operations, marketing, and management.

    Tourism Analysis focuses on both theoretical and applied research and strives to promote innovative approaches to understanding the complex and dynamic nature of tourism, its stakeholders, businesses, and its effects on society. The journal welcomes articles on innovative research topics and methodologies beyond the traditional theory-testing sciences, such as robotics, computational sciences, and data analytics.

    Our primary goal is to contribute to the development and advancement of new knowledge in tourism while fostering critical reflections and debates on the radical changes and evolution in tourism among scholars, practitioners, policymakers, and other stakeholders.

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