Evaluating methodological issues in the tourism literature: UK outgoing tourism and trade links

JACKSON, K. and ZANG, W., 2015. Evaluating methodological issues in the tourism literature: UK outgoing tourism and trade links. Economic Issues, 20 (1), pp. 1-42. ISSN 1363-7029

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Abstract

This paper evaluates the importance of trade in goods when modelling demand for tourism. It is argued that the limited literature testing causality between trade in goods and tourism does not consider the appropriate variables. This study utilises bilateral data for 16 UK tourist destinations in order to test for Granger causality between trade in goods and tourism expenditure. UK imports, exports and total trade are tested separately, whilst controlling for real GDP and real bilateral exchange rates. The novelty of this paper is the variable specification, as well as testing the causal relationship for the case of UK outgoing tourists. Our findings suggest a causal relationship between the tourism expenditure of UK residents and trade in goods. These results support the inclusion of a trade-in-goods variable w hen estimating tourism demand, as well as adopting appropriate methodologies to account for this causal relationship. Furthermore, there is strong evidence that the trade-tourism link is important for both the UK and host countries.

Item Type: Journal article
Publication Title: Economic Issues
Creators: Jackson, K. and Zang, W.
Publisher: Economic Issues Education Fund
Place of Publication: Nottingham
Date: 2015
Volume: 20
Number: 1
ISSN: 1363-7029
Divisions: Schools > Nottingham Business School
Depositing User: EPrints Services
Date Added: 09 Oct 2015 09:59
Last Modified: 22 Mar 2016 10:21
URI: http://irep.ntu.ac.uk/id/eprint/5963

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