Subject Area

Economics

Description

I estimate a tourism demand function for New Zealand using time series data from 1979 to 2019. The dependent variable is the sum of tourist visits from residents in the U.S., Australia, and China. The explanatory variables include the tourist-share-weighted exchange rate, tourist-share-weighted real GDP per capita for these countries, and the New Zealand Consumer Price Index. I also include dummy variables for the years 2007-2009 to control for the financial crisis and for years following the filming of the Lord of the Rings/Hobbit trilogies in New Zealand. The coefficients for all explanatory variables have their expected signs; all but 2 are statistically significant.

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Estimation of a Tourism Demand Function for Aotearoa (New Zealand)

I estimate a tourism demand function for New Zealand using time series data from 1979 to 2019. The dependent variable is the sum of tourist visits from residents in the U.S., Australia, and China. The explanatory variables include the tourist-share-weighted exchange rate, tourist-share-weighted real GDP per capita for these countries, and the New Zealand Consumer Price Index. I also include dummy variables for the years 2007-2009 to control for the financial crisis and for years following the filming of the Lord of the Rings/Hobbit trilogies in New Zealand. The coefficients for all explanatory variables have their expected signs; all but 2 are statistically significant.