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Tourism demand response by residents of Latin American countries by Manuel Vanegas Sr is a Social Sciences article available to read on EtoBox.

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## Abstract A general‐to‐specific methodology was used to build international tourism demand models by residents from Argentina, Brazil, Colombia and Venezuela to Aruba. We seek to evaluate demand parameters, especially elasticity values, which were disaggregated on a country‐to‐country basis. We also aim to learn more about the structure and important variables and investigate the process of adjustment. The study has provided new and compelling evidence that, in the short run, residents in developing countries respond rationally and substantially to economic stimulus. The short‐run income elasticity ranges from the low of 1.52 for Venezuela to the high of 2.34 for Argentina. These results indicate that Aruba will benefit differently from income increases in these four Latin American countries. The coefficients of the price variable had the expected negative signs, inelastic in the short‐run for all countries but significant at the 5% level for Venezuela only. Any deliberate effort to expand tourist arrivals will require a much larger decline in prices than would be the case in the presence of short‐run elastic response. The adjustment elasticity, being less than one, suggests that

Who reads Tourism demand response by residents of Latin American countries?

Author

Manuel Vanegas Sr

Publisher

John Wiley and Sons; Wiley (John Wiley & Sons); John Wiley & Sons Ltd.; Wiley (ISSN 1099-2340)

Published

2008

Language

EN

Field

Social Sciences