International tourism, a primary source of growth for many countries, is inadequately represented in the economic literature. This paper attempts to expand upon past research, thereby supplementing some deficiencies and posing new questions. A pooled model for international tourism demand is constructed for 85 countries using fixed-effects specification. In addition to conventional variables, a variable representing political conditions acts as a proxy for the many exogenous impacts that affect tourism. The nature of tourism volatility due to the exogenous shocks is discussed, and a statistical link between concentrations in tourism as an export good and GDP volatility is explored.
"International Tourism, Demand, and GDP Implications: A Background and Empirical Analysis,"
Undergraduate Economic Review: Vol. 1
, Article 2.
Available at: http://digitalcommons.iwu.edu/uer/vol1/iss1/2