Review article

A PANEL DATA MODELLING OF INTERNATIONAL TOURISM DEMAND: EVIDENCES FOR ROMANIA

Camelia Surugiu
Nuno Carlos Leitao
Marius Razvan Surugiu

Abstract

This paper analysis the determinants of international tourism demand for Romania and it quantifies
their influences. The authors elaborate two models, a fixed-effects model and the Tobit model, to
estimate tourist inflow data from twenty-three European countries, for the period 1997-2008. In the
fixed effects static panel model, we find that GDP per capita, bilateral trade, population, prices are
the main determinants of tourism flows to Romania. For the Tobit model, all the variables taken into
consideration, GDP per capita, bilateral trade, population, geographical distance, prices are
influencing the international tourism demand. Both models indicate that trade, population, and
income are more important determinants than relative prices or geographical distance between
Romania and countries of origin.

Keywords

international demand; tourist arrivals; panel data model; trade; Romania

Hrčak ID:

67754

URI

https://hrcak.srce.hr/67754

Publication date:

1.3.2011.

Article data in other languages: croatian

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