Economic crisis and tourism competitiveness in Spain: permanent effects or transitory shocks?


Autoria(s): Perles Ribes, José Francisco; Ramón-Rodríguez, Ana B.; Rubia Serrano, Antonio; Moreno-Izquierdo, Luis
Contribuinte(s)

Universidad de Alicante. Departamento de Análisis Económico Aplicado

Universidad de Alicante. Departamento de Economía Financiera y Contabilidad

Economía del Turismo, Recursos Naturales y Nuevas Tecnologías (INNATUR)

Internacionalización de la Empresa y Comercio Exterior

Finanzas de Mercado y Econometría Financiera

Data(s)

09/03/2015

09/03/2015

2013

Resumo

This paper considers the influence of business cycles and economic crises on Spain's tourism competitiveness. This competitiveness is measured by its share in world tourism. Analysing the presence of unit roots in the market share series from 1958 to 2010, the permanent effects of economic crises on competitiveness are evaluated. The evidence from standard linear unit root tests indicates that crises on Spanish market shares are highly persistent. When we account for endogenously determined structural breaks, we obtain greater support for stationarity, but breakpoints are identified with major economic crises. Therefore the main conclusion obtained is that the effects of the economic shocks are not neutral on competitiveness, with the negative effects being more persistent in highly intensive crises. These crises reinforce a natural downward trend of the Spanish world tourism market share caused by the natural emergence of new competing destinations and by the maturity of the Spain's principal tourism product.

Identificador

Current Issues in Tourism. 2013. doi:10.1080/13683500.2013.849666

1368-3500 (Print)

1747-7603 (Online)

http://hdl.handle.net/10045/45686

10.1080/13683500.2013.849666

Idioma(s)

eng

Publicador

Routledge

Relação

http://dx.doi.org/10.1080/13683500.2013.849666

Direitos

© 2013 Taylor & Francis

info:eu-repo/semantics/restrictedAccess

Palavras-Chave #Economic crisis #Tourism destinations competitiveness #Unit root analysis #Structural shocks #Permanent effects #Time-series analysis #Economía Aplicada #Economía Financiera y Contabilidad
Tipo

info:eu-repo/semantics/article