Contemporary drivers of global tourism: evidence from terrorism and peace factors |
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| Authors: | Simplice A Asongu Joseph Nnanna Nicholas Biekpe Paul N Acha-Anyi |
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| Institution: | 1. Development Finance Centre, Graduate School of Business, University of Cape Town, Cape Town, South Africa;2. The Development Bank of Nigeria, The Clan Place, Abuja, Nigeria;3. School of Tourism and Hospitality, College of Business and Economics, University of Johannesburg, Johannesburg, South Africa |
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| Abstract: | This study examines the effect of terrorism and peace on tourist destination arrivals using a panel of 163 countries with data for the period 2010–2015. The empirical evidence is based on Generalised Method of Moments and Negative Binomial (NB) regressions. Our best estimators are from NB regressions from which the following main findings are established. First, political instability, violent demonstrations, and number of homicides negatively affect tourist arrivals, while the number of incarcerations positively influences the outcome variable. Second, the effects of military expenditure, “armed service personnel,” and “security officers and polices” are not positively significant. Managerial implications are discussed. |
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| Keywords: | Terrorism peace tourism generalised method of moments negative binomial regressions military expenditure armed service personnel security officers and police drivers and panel data |
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