An econometric study of tourist arrivals in Aruba and its implications

    Authors

    R. R. Croes;M. Vanegas

    Comments

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    Abbreviated Journal Title

    Tourism Manage.

    Keywords

    modeling; dynamic; elasticity; policy formulation; small economy; UNITED-STATES; INTERNATIONAL TRAVEL; DEMAND; MODEL; DETERMINANTS; EXPENDITURE; BARBADOS; EUROPE; Environmental Studies; Hospitality, Leisure, Sport & Tourism; Management

    Abstract

    The principal purpose of this study is to analyze econometric estimates in order to explain tourist arrivals to Aruba from the United States, The Netherlands and Venezuela. The study specified a dynamic econometric model for modeling short term as well as the long-term responses. It estimated both linear and log-linear functions, and it applied the Box-Cox statistical method to determine the appropriate functional form. The inclusion of Venezuela as a developing country permitted the comparison of the behavior of tourism demand in relatively rich and poor countries. The results indicated the extent to which cross-country behavior of demand differs with respect to changes in effective prices and exchange rates. This study can assist in the formulation of future macroeconomic policies as well as market and pricing strategies in a small or microstate economy. (c) 2004 Elsevier Ltd. All rights reserved.

    Journal Title

    Tourism Management

    Volume

    26

    Issue/Number

    6

    Publication Date

    1-1-2005

    Document Type

    Article

    Language

    English

    First Page

    879

    Last Page

    890

    WOS Identifier

    WOS:000232594400006

    ISSN

    0261-5177

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