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Tourism demand analysis: The impact of the economic policy uncertainty on the arrival of Japanese tourists to the USA
Author(s) -
Ongan Serdar,
Gozgor Giray
Publication year - 2018
Publication title -
international journal of tourism research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.155
H-Index - 58
eISSN - 1522-1970
pISSN - 1099-2340
DOI - 10.1002/jtr.2182
Subject(s) - cointegration , tourism , index (typography) , economics , unit root , economic impact analysis , econometrics , microeconomics , geography , archaeology , world wide web , computer science
This paper aims to investigate the effects of economic uncertainty on the Japanese tourists who travelled to the United States (USA) over the period 1996Q1–2015Q1. To achieve this aim, for the first time the Economic Policy Uncertainty index has been used as an independent variable in international tourism demand analysis models. The unit root and the cointegration tests have been applied to account for unknown structural breaks. Empirical findings indicate that one standard deviation increase in the Economic Policy Uncertainty index leads to a 4.7% decrease in the number of Japanese tourist arrivals to the USA in the long run.