Research note: Are Singapore's tourism markets converging with structural breaks?

• Autores: Siow-Hooi Tan, Siow-Kian Tan
• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 19, Nº. 1, 2013, págs. 209-216
• Idioma: inglés
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• Resumen

  • This research note tests whether or not Singapore�s 15 major tourist source markets are converging. The study uses monthly data for the period January 1994 to June 2011, and the results are as follows: (a) univariate unit root tests without any structural breaks show that 13 out of the 15 tourist markets are diverging; (b) 80% of the tourism markets support the evidence for convergence when multiple structural breaks are incorporated; (c) the evidence of convergence is strongly supported under different panel settings, leading to the conclusion that policies to boost the total tourists arrivals in Singapore have been successful.