Exchange Rate Regimes and Tourism

The main objective of this paper is to analyse the effect of exchange rate arrangements on international tourism. The ambiguity in the literature about the effect of exchange rate volatility contrasts with the magnitude of the impact of a common currency on trade. The authors apply panel data techni...

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Bibliographic Details
Published in:Tourism economics : the business and finance of tourism and recreation 2010-03, Vol.16 (1), p.25-43
Main Authors: Santana-Gallego, María, Ledesma-Rodríguez, Francisco J., Pérez-Rodríguez, Jorge V.
Format: Article
Language:English
Subjects:
Exchange rate determination
Exchange rate policy
Exchange rates
Foreign exchange rates
Impact analysis
International
Leisure economics
Leisure expenditure
Leisure industry
Studies
Tourism
Volatility
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Summary:The main objective of this paper is to analyse the effect of exchange rate arrangements on international tourism. The ambiguity in the literature about the effect of exchange rate volatility contrasts with the magnitude of the impact of a common currency on trade. The authors apply panel data techniques to analyse the relevance of a common currency to tourism, finding that it is a major factor in the determination of tourist arrivals. They also analyse the impact of several de facto exchange rate arrangements on tourism, finding that less flexible exchange rates promote tourism.
ISSN:1354-8166
2044-0375
DOI:10.5367/000000010790872015