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The business and finance of tourism and recreation


Editor: Stephen Wanhill,
Professor of Tourism Economics,
University of Limerick,
and Emeritus Professor of Tourism
Research, Bournemouth University

This journal is covered by Thomson Reuters ISI. It has been selected for coverage with effect from the 2008 volume in the Thomson Reuters products Current Contents/Social and Behavioral Sciences and the Social Sciences Citation Index (SSCI).

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Editorial coverage

Tourism Economics, published quarterly, covers the business aspects of tourism in the wider context. It takes account of constraints on development, such as social and community interests and the sustainable use of tourism and recreation resources, and inputs into the production process. The definition of tourism used includes tourist trips taken for all purposes, embracing both stay and day visitors.

Articles address the components of the tourism product (accommodation; restaurants; merchandizing; attractions; transport; entertainment; tourist activities); and the economic organization of tourism at micro and macro levels (market structure; role of public/private sectors; community interests; strategic planning; marketing; finance; economic development).

Core subject areas:

  • forecasting
  • public policy (strategies, fiscal and other intervention policies)
  • economic development
  • market structures and competition
  • sources of capital provision
  • labour economics (quality and productivity issues)
  • business aspects of marketing
  • private and public sector interaction
  • economic appraisal at sector and project level
  • mathematical modelling
  • developments in the components of the product
  • structure of the tourism industry (including such issues as ownership, corporate size, international operations, etc)
  • regional economic effects of tourism developments
  • analysis of international data on tourism, such as WTO statistics

Submissions - Notes for authors

Please send papers to Professor Stephen Wanhill, c/o IP Publishing Ltd, 258 Belsize Road, London NW6 4BT, UK.

Length and presentation of contributions

 Papers will normally be about 5,000 words long. However, this is by no means inflexible and substantially shorter or longer papers will be considered where appropriate. Research notes and shorter report-style pieces will also be considered (1,500-2,000 words).

Submissions should be double spaced, printed on one side of the paper, and two copies should be sent. An electronic version is not required for the initial submission, but authors of accepted papers will need to supply a disk with their final draft. Electronic versions should be in Word.

The title page should contain full names and addresses of the authors, their professional status or affiliation and the address to which correspondence should be sent. As this page will not be forwarded to referees, the title of the article (without authors) should be repeated on the first page of the text.

An abstract should be provided, comprising 80-100 words. Between 3 and 6 keywords should appear below the abstract, highlighting the main topics of the paper. The text should be organized under appropriate cross-headings (not numbered paragraphs) and where possible these should be not more than 800 words apart.

References should follow the Harvard system. That is, they should be shown within the text as the author's surname (or authors' surnames) followed by a comma and the year of publication, all in round brackets: for example, (Smith, 1998). At the end of the article a bibliographical list should be supplied, organized alphabetically by author (surnames followed by initials - all authors should be named). Bibliographic information should be given in the order indicated by the following examples:

  • Articles: Knapman, B., and Stoeckl, N. (1995), 'Recreation user fees: an Australian empirical investigation', Tourism Economics, Vol 1, No 1, pp 5-15.
  • Books: Manning, R.E. (1999), Studies in Outdoor Recreation: Search and Research for Satisfaction, Oregon State University Press, Corvallis, OR.

Notes should be numbered consecutively in the text and typed in plain text at the end of the paper (not as footnotes on text pages).

Tables and illustrations should be presented separately at the end of the text.

Prior Publication

Articles are received on the understanding that they are original contributions, and have not been published officially, either in print or electronic form, or submitted for publication elsewhere. In this respect, ‘discussion’ or ‘working’ papers, conference presentations and proceedings are not considered to be official publications, unless they have been formally deemed so by conference organizers, or presented as edited works through recognized publishing channels. If in doubt, authors are asked to draw the attention of the Editor to any prior dissemination of the paper in their letter of submission.

Refereeing

All papers, other than research notes and reports, will be subject to a 'double blind' review - i.e. the anonymity of both authors and referees will be maintained throughout the refereeing process. There will be a minimum of two referees for each paper. Papers by authors who are not academics (such as submissions from industry) will also be subject to review before acceptance, but their distinct nature and aims will be fully taken into account.

Copyright

Unless otherwise indicated, submissions are received on the understanding that they are original contributions,, and have not been published or submitted for publication elsewhere. The editor reserves the right to edit or otherwise alter contributions, but authors will see proofs before publication. Authors will be asked to assign copyright, where possible, to IP Publishing Ltd. Relevant authors’ rights are protected.

Editorial Board

Editor: Stephen Wanhill, Professor of Tourism Economics, University of Limerick, and Emeritus Professor of Tourism Research, Bournemouth University, c/o IP Publishing Ltd, 258 Belsize Road, London NW6 4BT, UK.

Special Advisers
  • Professor John Fletcher, International Centre for Tourism and Hospitality Research,
    Bournemouth University, UK
  • Professor William C. Gartner, Tourism Center,
    University of Minnesota, USA
  • Professor Sang Mu Kim, Department of Tourism Management,
    Keimyung University, Korea
  • Professor J. Mazanec, Institute of Tourism,
    Vienna University of Economics and Business Administration, Austria
  • Professor Lindsay W. Turner, School of Applied Economics
    Victoria University, Australia

Editorial Advisory Board

  • Professor Eugeni Aguiló
    Universitat de les Illes Balears, Spain
  • Professor Esteban Bardolet
    Universitat de les Illes Balears, Spain
  • Professor Carlos Pestana Barros
    Technical University of Lisbon, Portugal
  • Professor Tom Baum
    Strathclyde Business School, UK
  • Professor Eberhard Bischoff
    University of Wales Swansea, UK
  • Professor Adam Blake
    Bournemouth University, UK
  • Professor Jim Deegan
    University of Limerick, Ireland
  • Dr Sarath Divisekera
    Victoria University of Technology, Australia
  • Professor Larry Dwyer
    University of New South Wales, Australia
  • Professor Peter Forsyth
    Monash University, Australia
  • Professor D.C. Frechtling
    The George Washington University, USA
  • Dr Twan Huybers
    University of New South Wales, Australia
  • Professor Carson L. Jenkins
    University of Strathclyde, UK
  • Professor Brian King
    Victoria University, Australia
  • Dr Peter Morrell
    Cranfield University, UK
  • Professor Richard R. Perdue
    Virginia Polytechnic Institute and State University, USA
  • Professor J.R. Brent Ritchie
    University of Calgary, Canada
  • Professor Christopher Ryan
    University of Waikato, New Zealand
  • Professor Andrea Saayman
    North-West University, South Africa
  • Dr Mondher Sahli
    Victoria University of Wellington, New Zealand
  • Professor Egon Smeral
    Austrian Institute of Economic Research and University of Innsbruck, Austria
  • Professor Haiyan Song
    Hong Kong Polytechnic University, Hong Kong SAR, PR China
  • Dr Brian Terry
    Terry & Partners, UK
  • Professor John Westlake
    Prince of Songkla University, Thailand

December 2009 (Vol 15 No 4)

693 Effect of seasonality treatment on the forecasting performance of tourism demand models

Shujie Shen, Gang Li and Haiyan Song

709 The economic contributions of human-powered outdoor recreation to the US economy

Rob Southwick, John Bergstrom and Clint Wall

735 The economics of US cruise companies’ European brand strategies

Michael P. Vogel

753 Tourism in Galicia: domestic and foreign demand

Teresa Garín-Muñoz

771 An econometric analysis of the effects of tourism growth on municipal revenues and expenditures

Timothy J. Tyrrell and Robert J. Johnston

785 An analysis of the relationship between transport capital and tourism development in a dynamic framework

Boopen Seetanah and Jameel Khadaroo

803 Impacts of climate change on domestic tourism in the UK: a panel data estimation

Tim Taylor and Ramon Arigoni Ortiz

813 Price interactions between theme park and tour operator

Haiyan Song, Shu Yang and George Q. Huang

825 Customer satisfaction with and loyalty towards online travel products: a transaction cost economics perspective

Yeong Gug Kim and Gang Li

847 Gender segregation and wage difference in the hospitality industry

Juan Antonio Campos-Soria, Bienvenido Ortega-Aguaza and Miguel Angel Ropero-García

867 Research note: The impact of Korean TV dramas on Taiwanese tourism demand for Korea

Hyun Jeong Kim, Ming-Hsiang Chen and Hung-Jen Su

875 Research note: The convergence hypothesis for tourism markets: evidence from Singapore

Chew Ging Lee

883 Research note: The SARS epidemic and international visitor arrivals to Cambodia: is the impact permanent or transitory?

Tuck Cheong Tang and Koi Nyen Wong

891 The Thea Sinclair Award for Journal Article Excellence, 2009

893 Index to Volume 15, 2009

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Title: Effect of seasonality treatment on the forecasting performance of tourism demand models

Author(s): Shujie Shen, Gang Li and Haiyan Song

Abstract: This study provides a comprehensive comparison of the performance of the commonly used econometric and time-series models in forecasting seasonal tourism demand. The empirical study is carried out based on the demand for outbound leisure tourism by UK residents to seven destination countries: Australia, Canada, France, Greece, Italy, Spain and the USA. In the modelling exercise, the seasonality of the data is treated using the deterministic seasonal dummies, seasonal unit root test techniques and the unobservable component method. The empirical results suggest that no single forecasting technique is superior to the others in all situations. As far as overall forecast accuracy is concerned, the Johansen maximum likelihood error correction model outperforms the other models. The time-series models also show superior performance in dealing with seasonality. However, the time- varying parameter model performs relatively poorly in forecasting seasonal tourism demand. This empirical evidence suggests that the methods of seasonality treatment affect the forecasting performance of the models and that the pre-test for seasonal unit roots is necessary and can improve forecast accuracy.

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Title: The economic contributions of human-powered outdoor recreation to the US economy

Author(s): Rob Southwick, John Bergstrom and Clint Wall

Abstract: This paper presents a comprehensive assessment of the economic contributions of the major forms of human-powered outdoor recreation, including trail-based recreation, bicycle-based recreation, paddle-based recreation, snow-based recreation and camp-based recreation. The results show that the combined economic contributions of human-powered recreation to the US economy exceed US$590 billion annually in total gross output, supporting over five million jobs. Other studies estimate that wildlife-based recreation contributes another US$140 billion annually in total gross output to the US economy, making a total contribution of US$730 billion from both human-powered and wildlife-based recreation. Active outdoor recreation not only strengthens the US economy but also improves the quality of life for participants.

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Title: The economics of US cruise companies’ European brand strategies

Author(s): Michael P. Vogel

Abstract: Carnival and Royal Caribbean control two-thirds of the global cruise ship capacity. Although they share the same ambition to grow in Europe, they have never shared the same strategy. Carnival adopted a strategy of multiple decentralized local brands, each with its own capacities and prices, while Royal Caribbean chose a global brand, capacity and pricing strategy. However, Royal Caribbean’s acquisition of Pullmantur in Spain, and the subsequent announcements of a dedicated cruise line for France and of a joint venture with TUI in Germany, mark a fundamental strategy change. Using microeconomic modelling, this paper investigates the rationale for that change.

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Title: Tourism in Galicia: domestic and foreign demand

Author(s): Teresa Garín-Muñoz

Abstract: This paper analyses the main determinants of the demand for tourism in Galicia and quantifies their incidence. The author elaborates two models depending on the origin (domestic or foreign) of the tourists. For domestic demand, a panel of annual data on the 17 regions of origin of tourists during 1999–2006 is used. For international demand, another annual panel is used, comprising data on 24 countries of origin of tourists for the same period. The estimated elasticities suggest that both domestic and foreign tourism in Galicia are very sensitive to income in the origin markets and to prices. Other findings are the dependence of domestic tourism on its own past and the sensitivity of tourism to the celebration of the Holy Year. The results may be of use to professionals and policymakers in their decision-making processes.

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Title: An econometric analysis of the effects of tourism growth on municipal revenues and expenditures

Author(s): Timothy J. Tyrrell and Robert J. Johnston

Abstract: The major source of change in the tourism industry of New London County, Connecticut, over the past one and a half decades has been the dramatic influx of visitors to the county’s two American Indian casinos: Foxwoods, opened in 1992, and Mohegan Sun, opened in 1996. This study seeks reasonable estimates of municipal-level revenues and expenditures related to tourism growth during 1993–2002, for each of the 21 municipalities in the county. The authors conduct an econometric analysis to separate three factors with different spatial impacts on revenues and expenditures: those due to the residential locations of new tourism employees, those due to the business location of new tourism enterprises and those due to the pattern of increased traffic caused by new visitor travel.

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Title: An analysis of the relationship between transport capital and tourism development in a dynamic framework

Author(s): Boopen Seetanah and Jameel Khadaroo

Abstract: This paper investigates the contribution of transportation capital, an often neglected element in the overall attractiveness of Mauritius as a tourist destination. To gauge its effect, the study extends a classical demand for international tourism function to include a proxy of transport infrastructure. Accounting for the possibility of endogeneity and dynamism in tourism modelling, cointegration analysis in a vector autoregressive model is employed to assess the hypothesized link. Results from the analysis show that the stock of transport capital has contributed positively to the number of tourist arrivals in both the short run and the long run. The study thus highlights the importance of transport capital in adding to the value of tourism service and experience.

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Title: Impacts of climate change on domestic tourism in the UK: a panel data estimation

Author(s): Tim Taylor and Ramon Arigoni Ortiz

Abstract: Climate change is likely to have a significant impact on a number of key economic sectors, including tourism. The authors employ panel data techniques on regional tourist and climatic data in the UK to estimate the influence of temperature, precipitation and sunny conditions on domestic tourism. Significant impacts are found, including lagged relationships. The model is then used to estimate the impact of the hot weather of summer 2003 on domestic tourism in the UK, finding a positive impact on revenues ranging between £14.79 million and £30.32 million.

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Title: Price interactions between theme park and tour operator

Author(s): Haiyan Song, Shu Yang and George Q. Huang

Abstract: This paper conducts a theoretical investigation into pricing competition and coordination between Hong Kong Disneyland (HKD) and a tour operator. HKD supplies two types of admission ticket to the tour operator: an admission-only ticket and a package ticket that combines admission to the park and one night’s accommodation in its hotels. The tour operator then sells these two types of admission ticket in the target market. A Stackelberg game model is proposed to formulate the leader– follower relationship, with HKD leading and the tour operator following. The equilibrium prices are derived by backward induction. The theoretical results show that HKD can coordinate with the tour operator through a quantity discount schedule. A Nash bargaining game suggests that HKD receives a larger share of the profit growth due to its dominant market power.

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Title: Customer satisfaction with and loyalty towards online travel products: a transaction cost economics perspective

Author(s): Yeong Gug Kim and Gang Li

Abstract: This study examines the usefulness of the theory of transaction cost economics (TCE) for the online travel market and investigates customer satisfaction and loyalty with the transaction cost over the Internet taken into account. Using structural equation modelling (SEM), the authors identify the relationships among the antecedents (uncertainty, personal security and buying frequency), the mediating variable (transaction costs) and endogenous constructs (customer satisfaction and loyalty). The findings suggest that the satisfaction and loyalty of customers purchasing travel products over the Internet are affected negatively by transaction costs, which are determined by uncertainty, personal security and buying frequency. Moreover, a significantly negative relationship is identified between buying frequency and customer satisfaction.

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Title: Gender segregation and wage difference in the hospitality industry

Author(s): Juan Antonio Campos-Soria, Bienvenido Ortega-Aguaza and Miguel Angel Ropero-García

Abstract: This article estimates the contribution of different types of gender segregation to the wage difference between men and women in the hospitality industry. Matched employer–employee data from a sample of hotels and restaurants in Andalusia are used to this end. The data source includes information on 181 hotels and 121 restaurants. Impacts on the wage gap are obtained for two empirical specifications. In the first, equal returns of observable variables are assumed for men and women and, in the second, returns are assumed to be different for each gender. The authors find that industrial and vertical segregation – and to a lesser extent establishment segregation – increase the wage differential. However, horizontal and category segregation help to diminish this, although the impact of the latter is not very substantial. Regarding occupational segregation, women predominate in worst-paid jobs, but their wages drop less than men’s earnings. These estimations are robust to both empirical specifications.

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Title: Research note: The impact of Korean TV dramas on Taiwanese tourism demand for Korea

Author(s): Hyun Jeong Kim, Ming-Hsiang Chen and Hung-Jen Su

Abstract: This study examines the effects of popular Korean TV dramas on Taiwanese outbound travel to Korea between 1997 and the end of 2005. The popularity of Korean TV dramas began with the drama Fireworks, first shown in Taiwan from July to September 2000. Based on that information, the data were divided into two subsamples: January 1997 to September 2000 and October 2000 to December 2005. The Chow tests revealed a significant structural change in the total number of Taiwanese visitors to Korea between the two sample periods. Additional analyses indicated that a significant structural change was attributable mainly to the increase in pleasure travel, further demonstrating the strong effects of Korean TV series in Taiwan. Empirical results support the concept of film-induced tourism.

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Title: Research note: The convergence hypothesis for tourism markets: evidence from Singapore

Author(s): Chew Ging Lee

Abstract: This research note takes a brief empirical look at the convergence hypothesis in terms of long-run convergence and convergence as catching up, using data from Singapore over two periods. The findings suggest that in the recent period, international visitor arrivals in Singapore from either Africa or Europe are catching up with those from Asia. The international visitor arrivals in Singapore from either the Americas or Oceania are converging with those from Asia. The international visitor arrivals in Singapore from Europe are diverging from those of Asia in the earlier period.

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Title: Research note: The SARS epidemic and international visitor arrivals to Cambodia: is the impact permanent or transitory?

Author(s): Tuck Cheong Tang and Koi Nyen Wong

Abstract: This study contributes to the existing literature by examining whether the SARS (severe acute respiratory syndrome) health scares had a permanent or transitory effect on tourist arrivals in a transition economy – Cambodia. The findings, which are based on unit root tests with an unknown level shift proposed by Lanne et al (2002) and Saikkonen and Lütkepohl (2002), show that visitor arrivals from Cambodia’s major source markets are stationary. This implies that the SARS crisis had a transitory effect on Cambodia.

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