Travel and tourism competitiveness index: The impact of air transportation,railways transportation,travel and transport services on international inbound and outbound tourism |
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| Institution: | 1. School of Economics and Management, Chang''an University, Nan Er Huan Zhong Duan, Xi''an, 710064, PR China;2. Department of Economics, Abbottabad University of Science & Technology, Tehsil Havelian, District Abbottabad, khyber pakhtunkhwa, Pakistan;3. School of Printing and Packaging, Xi''an University of Technology, Xi''an, Shaanxi, PR China;1. TRYSE Research Group, University of Granada, Department of Civil Engineering, Severo Ochoa s/n, Granada 18071, Spain;2. University of Calabria, Department of Civil Engineering, P. Bucci, cubo 46/B, Rende (CS) 87036, Italy;1. Kyung Hee Cyber University, School of Business, 26 KyungHee Dae-ro, DongDaeMoon-gu, Seoul, 130-739, Republic of Korea;2. Yonsei University, School of Business, 50 Yonsei-ro, Seodaemun-gu, Seoul, 120-749, Republic of Korea;1. School of Finance, College of Business and Public Management, Kean University, NJ, USA;2. Wenzhou-Kean University Campus, Wenzhou, PR China;3. Department of Business Administration, University of the Punjab, Gujranwala Campus, Pakistan;4. Department of Economics, University of Wah, Quaid Avenue, Wah Cantt, Pakistan;5. Hailey College of Banking and Finance, University of the Punjab, Lahore, Pakistan;6. Arriyadh Community College, King Saud University, Riyadh, Saudi Arabia;7. KSA Workers University, Cairo, Egypt;8. College of Business Administration, King Saud University, Muzahimiyah, Saudi Arabia;9. Bina Nusantara University, Faculty of Humanities, Jakarta, Indonesia;10. Faculty of Education, Universiti Teknologi Malaysia, 81310 Skudai, Johor, Malaysia;11. Faculty of Management, Universiti Teknologi Malaysia, 81310 Skudai, Johor, Malaysia;12. Department of Economics, Wuhan University, Wuhan, China |
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| Abstract: | The objective of the study is to examine the impact of air transportation, railways transportation, travel and transport services on international inbound and outbound tourism in a panel of 19 tourists - oriented countries, over a period of 1990–2014. By applying principal component analysis, the study constructs travel and tourism competitiveness index for inbound and outbound tourism. The main constructs of inbound tourism index include international tourists' arrival, tourism receipts, receipts of passengers' transports items and travel items while the constructs of the outbound index include international tourists' departure, tourism expenditures, and expenditures for passengers transport and travel items. The result of panel Fully Modified OLS (FMOLS) regression shows that the presence of air transportation, railways transportation, and trade openness positively affect inbound tourism index, while travel and transport services negatively affect tourism competitiveness index. The causality results confirm the bidirectional relationship between inbound tourism, air transportation, railways passengers carried, trade openness and travel and transport services, while there is a unidirectional causality running from inbound index to railway goods transported, from air transport freight to trade factor, and from travel services to air transport freight. Outbound tourism index confirmed the bidirectional causality relationship with air transportation, railways transportation, and travel and transport services, while the causality running from outbound index to trade factor, from air transport passenger carried to travel services, and from railway goods transported to trade and transport services, which support the unidirectional causality relationship between them. The variance decomposition results show that air transportation freight is the contributor that largely influences inbound-outbound tourism, while railways passengers carried and trade openness has the least share to influence inbound and outbound tourism index for the next 10-year period. The impulse response function indicates that air transportation, railways transportation, trade openness and travel services will positively impact on inbound truism while travel and transport services will positively affect outbound tourism for the next 10-year period. The study concludes with the importance of transportation sector that deem desirable to promote tourism worldwide. The concentration of different modes of transportation including air transportation, railways transportation, and travel and transport system would helpful to advance international tourism. |
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| Keywords: | Air transportation Railways transportation Travel services Transport services International tourism Panel fixed effect |
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