Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/125129
Authors: 
McAleer, Michael
Year of Publication: 
2015
Series/Report no.: 
Tinbergen Institute Discussion Paper 15-129/III
Abstract: 
The purpose of the paper is to present the fundamental equation in tourism finance that connects tourism research to empirical finance and financial econometrics. The energy industry, which includes, oil, gas and bio-energy fuels, together with the tourism industry, are two of the most important industries in the world today in terms of employment and generating income. The primary purpose in attracting domestic and international tourists to a country, region or city is to maximize tourism expenditure. The paper will concentrate on daily tourism expenditure, regardless of whether such data might be readily available. If such data are not available, a practical method is presented to calculate the appropriate data.
Subjects: 
Tourism research
tourism finance
growth in tourism
returns on tourism
volatility
fundamental equation
empirical finance
financial econometrics.
JEL: 
C22
C32
C58
G32
Document Type: 
Working Paper

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