| Abstract: | In this paper the Johansen cointegration analysis of time series is used to model the Portuguese inbound international tourism demand from five countries of origin—France, Germany, The Netherlands, Spain and UK. This approach examines the long‐run relationships between the demand for holiday visits and the variables that affect holiday travel such as income, destination prices and travel costs (airfares and road costs). Demand functions, for each country of origin, are estimated using annual data on tourism flows from 1975 to 1997. Copyright © 2002 John Wiley & Sons, Ltd. |
