Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/74130
Authors: 
McAleer, Michael
Shareef, Riaz
da Veiga, Bernardo
Year of Publication: 
2005
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 137.2005
Abstract: 
International tourism is the principal economic activity for Small Island Tourism Economies (SITEs). There is a strongly predictable component of international tourism, specifically the government revenue received from taxes on international tourists, but it is difficult to predict the number of international tourist arrivals which, in turn, determines the magnitude of tax revenue receipts. A framework is presented for risk management of daily tourist tax revenues for the Maldives, which is a unique SITE because it relies entirely on tourism for its economic and social development. As these receipts from international tourism are significant financial assets to the economies of SITEs, the time-varying volatility of international tourist arrivals and their growth rate is analogous to the volatility (or dynamic risk) in financial returns. In this paper, the volatility in the levels and growth rates of daily international tourist arrivals is investigated.
Subjects: 
Small Island Tourism Economies (SITEs)
International tourist arrivals
Tourism tax
Volatility
Risk
Value-at-Risk (VaR)
Sustainable Tourism-@-Risk (ST@R)
JEL: 
G18
C32
L83
D81
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.