Footnote:
In: Tourism and Hospitality Research, Vol. 9, No. 4, pp. 305-313
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 2, 2009 erstellt
Description:
This study investigates the main determinants of the German demand for tourism in South Tyrol. The important share of Germans in the South Tyrolean market with more than 80% of the total of international tourism arrivals in the region is the reason for studying this market. We introduce the dynamic data panel model proposed by Arellano and Bond and apply it to a panel data set collected from 116 tourism destinations of South Tyrol. We use annual data from 1987 to 2007 of the per capita GDP of Germany (measuring income), the number of German tourists in each destination (measuring the volume of tourism), the relative prices between Italy and Germany (measuring tourism price) and price of crude oil (as a proxy of travel costs). The main results of this study are: 1) the demand for tourism in the previous period has a positive and relevant effect on actual demand, reflecting loyalty of the German tourists; 2) the cost of travel and the relative prices have a negative and significant impact on the demand