Tourism demand analysis: The impact of the economic policy uncertainty on the arrival of Japanese tourists to the USA

This paper aims to investigate the effects of economic uncertainty on the Japanese tourists who travelled to the United States (USA) over the period 1996Q1–2015Q1. To achieve this aim, for the first time the Economic Policy Uncertainty index has been used as an independent variable in international...

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Bibliographic Details
Published in:The international journal of tourism research 2018-05, Vol.20 (3), p.308-316
Main Authors: Ongan, Serdar, Gozgor, Giray
Format: Article
Language:English
Subjects:
Demand analysis
Economic models
Economic policy
EPU index
international tourism demand
Japanese consumers
Japanese outbound tourists
Tourism
uncertainty
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Summary:This paper aims to investigate the effects of economic uncertainty on the Japanese tourists who travelled to the United States (USA) over the period 1996Q1–2015Q1. To achieve this aim, for the first time the Economic Policy Uncertainty index has been used as an independent variable in international tourism demand analysis models. The unit root and the cointegration tests have been applied to account for unknown structural breaks. Empirical findings indicate that one standard deviation increase in the Economic Policy Uncertainty index leads to a 4.7% decrease in the number of Japanese tourist arrivals to the USA in the long run.
ISSN:1099-2340
1522-1970
DOI:10.1002/jtr.2182