Resumen de Economic policy uncertainty and demand for international tourism: An empirical study
Canh Phuc Nguyen, Christophe Schinckus, Thanh Dinh Su
The sensitivity of countries to the global macroeconomic uncertainty is directly related to theincome level affecting, therefore, the demand for the outbound international tourism. Precisely, weobserve that a higher economic policy uncertainty leads to more departures and more totalexpenditures but less expenditure per tourist – this finding is the first contribution of this articlesince it suggests that outbound tourism might be considered as an inferior good. In an uncertaincontext increasing the probability of decrease in the agents’ wealth, the population travel more butspend less money per trip suggesting that these travels are mainly made in neighbour countries. Ahigher uncertainty also induces a higher demand for outbound international tourism but lesstouristic expenditures in low- and lower-middle-income economies. These findings show themultifaceted aspect of tourism since it suggests an emigration effect that we discuss in this article.
