Open AccessEstimation of Tourism Demand and Supply Functions for Azerbaijan: 2SLS Approach
Author(s) -
Gulaliyev G. Mayis,
Shafa Guliyeva,
Hajiyeva A. Leyla,
Muradova R. Hijran,
Mammadova I. Ulker
Publication year - 2021
Publication title -
wseas transactions on business and economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.158
H-Index - 16
eISSN - 2224-2899
pISSN - 1109-9526
DOI - 10.37394/23207.2021.18.119
Subject(s) - trips architecture , tourism , estimation , economics , population , income elasticity of demand , supply and demand , developing country , development economics , business , economic growth , econometrics , geography , macroeconomics , demography , management , archaeology , sociology , parallel computing , computer science
In this paper, there was investigated tourism demand and supply functions in the case of Azerbaijan. The authors have applied the 2SLS method to identify these functions. The authors came to the conclusion that the demand function of tourist trips to Azerbaijan varies depending on the level of income of tourists’ origin countries and the price level in Azerbaijan. Unfortunately, the COVID-19 pandemic impacts not only the restriction policy of origin countries, as well as income in these countries. By decreasing the income levels of the population in these countries will be decreased the number of tourists to Azerbaijan.