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2021 | OriginalPaper | Buchkapitel

Exploring the Impact of Political Stability and Climate Change on Inbound Tourism Demand: Evidence from Dynamic Panel Data Analysis

verfasst von : Chor Foon Tang, Evan Lau

Erschienen in: Regional Science Perspectives on Tourism and Hospitality

Verlag: Springer International Publishing

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Abstract

By employing the dynamic panel generalised method of moments (GMM), the present study attempts to investigate empirically how inbound tourism demand in Malaysia from 45 tourism source countries responds to income, prices, political stability, climate change and word-of-mouth. Despite the widely researched demand for inbound tourism in Malaysia, the role of political stability and climate changes has received little attention. Hence, it is essential to estimate the demand behaviour of inbound tourism in Malaysia. We find that both economic factors, namely income and prices, explain tourism demand, and they also demonstrate the expected positive and negative relationships, respectively. Based on the findings of the present study, we find that political stability and climate change provide a significant impact on tourism demand in Malaysia. Based on these findings, some relevant policies are recommended.

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Vorheriges Kapitel Innovation, Competitiveness, and Sustainability in Tourism Clusters: An Empirical Model of Caribbean Destinations
Nächstes Kapitel Measuring Tourism Sustainability: The Case of Andalusia
Fußnoten
1
To the best of our knowledge, only Habibi (2017) has considered the impact of political stability on tourism demand in Malaysia, but the study also ignored the importance of climate change, thus leaving a gap for further research.
 
2
In some cases, particularly those studies (e.g. Tang and Lau 2017) that deal with high frequency data (e.g. monthly and quarterly), Industrial Production Index (IPI) will be used to measure income. This is because high frequency data for GDP may be unavailable.
 
3
We performed the group-wise heteroskedasticity test and also the Breusch-Pagan test for heteroskedasticity to obtain some pictures of the pattern of the errors variance of the estimated models. Consistently, we find that the value of all of the tests are highly significant, which indicates that the estimated errors variance is less likely homogenous.
 
4
However, it is also possible to obtain a negative (positive) relationship between political (in)stability and tourism demand, especially when tourists are risk takers. Indeed, Ingram et al. (2013) discovered that political instability does not affect tourists’ choice regarding tourism destination, and some will purposely choose to travel during periods of political risk so as to enjoy the low cost of travelling, including accommodation and transportation.
 
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Metadaten
Titel
Exploring the Impact of Political Stability and Climate Change on Inbound Tourism Demand: Evidence from Dynamic Panel Data Analysis
verfasst von
Chor Foon Tang
Evan Lau
Copyright-Jahr
2021
Verlag
Springer International Publishing
Buch
Regional Science Perspectives on Tourism and Hospitality

Print ISBN: 978-3-030-61273-3

Electronic ISBN: 978-3-030-61274-0

Copyright-Jahr: 2021

DOI
https://doi.org/10.1007/978-3-030-61274-0_20