New insights into ECCU's tourism sector competitiveness /:
Tourism has become the main driver of economic growth and employment and the most important source of income in the ECCU. Preserving and, possibly, enhancing the competitiveness of the tourism product is key for these countries. Unfortunately, the evidence shows that tourism arrivals to the ECCU hav...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
[2019]
|
| Schriftenreihe: | IMF working paper ;
WP/19/154. |
| Schlagworte: | |
| Online-Zugang: | DE-862 DE-863 |
| Zusammenfassung: | Tourism has become the main driver of economic growth and employment and the most important source of income in the ECCU. Preserving and, possibly, enhancing the competitiveness of the tourism product is key for these countries. Unfortunately, the evidence shows that tourism arrivals to the ECCU have been declining slightly while global demand for tourism is on the rise. The objective of this paper is to study the structural determinants of competitiveness for the ECCU, defined as the relative cost advantage over other touristic regions (Di Bella, Lewis, and Martin 2007). Using a gravity model, we show that proximity to North American and European markets is indeed an important competitive advantage for the ECCU. However, despite this advantage, and, in some cases, specialization in high-end tourism, regression analysis shows that arrivals to the ECCU are sensitive to relative prices. Our simulations show that mitigating supply-side constraints would improve the ECCU's competitiveness and allow the region to regain global market shares. |
| Beschreibung: | 1 online resource (19 pages) |
| ISBN: | 1513508075 9781513508078 |
Internformat
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| 520 | |a Tourism has become the main driver of economic growth and employment and the most important source of income in the ECCU. Preserving and, possibly, enhancing the competitiveness of the tourism product is key for these countries. Unfortunately, the evidence shows that tourism arrivals to the ECCU have been declining slightly while global demand for tourism is on the rise. The objective of this paper is to study the structural determinants of competitiveness for the ECCU, defined as the relative cost advantage over other touristic regions (Di Bella, Lewis, and Martin 2007). Using a gravity model, we show that proximity to North American and European markets is indeed an important competitive advantage for the ECCU. However, despite this advantage, and, in some cases, specialization in high-end tourism, regression analysis shows that arrivals to the ECCU are sensitive to relative prices. Our simulations show that mitigating supply-side constraints would improve the ECCU's competitiveness and allow the region to regain global market shares. | ||
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| author | Ghazanchyan, Manuk Brito, Steve Zhao, Li |
| author_facet | Ghazanchyan, Manuk Brito, Steve Zhao, Li |
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| contents | The evidence -- Stylized facts on regional supply factors -- Proximity is a key competitive advantage -- Model on determinants of tourism arrivals and expenditures -- Removing supply-side constraints could boost competitiveness and the ECCU's market share. |
| ctrlnum | (OCoLC)1113876688 |
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| id | ZDB-4-EBA-on1113876688 |
| illustrated | Not Illustrated |
| indexdate | 2025-03-18T14:25:45Z |
| institution | BVB |
| isbn | 1513508075 9781513508078 |
| language | English |
| oclc_num | 1113876688 |
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| series2 | IMF Working Paper ; |
| spelling | Ghazanchyan, Manuk, author. New insights into ECCU's tourism sector competitiveness / by Manuk Ghazanchyan, Li Zhao, Steve Brito and Vivian Parlak. [Washington, D.C.] : International Monetary Fund, [2019] ©2019 1 online resource (19 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF Working Paper ; WP/19/154 The evidence -- Stylized facts on regional supply factors -- Proximity is a key competitive advantage -- Model on determinants of tourism arrivals and expenditures -- Removing supply-side constraints could boost competitiveness and the ECCU's market share. Tourism has become the main driver of economic growth and employment and the most important source of income in the ECCU. Preserving and, possibly, enhancing the competitiveness of the tourism product is key for these countries. Unfortunately, the evidence shows that tourism arrivals to the ECCU have been declining slightly while global demand for tourism is on the rise. The objective of this paper is to study the structural determinants of competitiveness for the ECCU, defined as the relative cost advantage over other touristic regions (Di Bella, Lewis, and Martin 2007). Using a gravity model, we show that proximity to North American and European markets is indeed an important competitive advantage for the ECCU. However, despite this advantage, and, in some cases, specialization in high-end tourism, regression analysis shows that arrivals to the ECCU are sensitive to relative prices. Our simulations show that mitigating supply-side constraints would improve the ECCU's competitiveness and allow the region to regain global market shares. Print version record. Tourism. http://id.loc.gov/authorities/subjects/sh85136255 Tourism fast Brito, Steve, author. Zhao, Li, author. International Monetary Fund, issuing body. has work: New insights into ECCU's tourism sector competitiveness (Text) https://id.oclc.org/worldcat/entity/E39PCFFTTd7pGgx7B8qV48xFcd https://id.oclc.org/worldcat/ontology/hasWork Print version: Ghazanchyan, Manuk. New Insights into ECCU's Tourism Sector Competitiveness. Washington, D.C. : International Monetary Fund, ©2019 9781498320818 IMF working paper ; WP/19/154. |
| spellingShingle | Ghazanchyan, Manuk Brito, Steve Zhao, Li New insights into ECCU's tourism sector competitiveness / IMF working paper ; The evidence -- Stylized facts on regional supply factors -- Proximity is a key competitive advantage -- Model on determinants of tourism arrivals and expenditures -- Removing supply-side constraints could boost competitiveness and the ECCU's market share. Tourism. http://id.loc.gov/authorities/subjects/sh85136255 Tourism fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85136255 |
| title | New insights into ECCU's tourism sector competitiveness / |
| title_auth | New insights into ECCU's tourism sector competitiveness / |
| title_exact_search | New insights into ECCU's tourism sector competitiveness / |
| title_full | New insights into ECCU's tourism sector competitiveness / by Manuk Ghazanchyan, Li Zhao, Steve Brito and Vivian Parlak. |
| title_fullStr | New insights into ECCU's tourism sector competitiveness / by Manuk Ghazanchyan, Li Zhao, Steve Brito and Vivian Parlak. |
| title_full_unstemmed | New insights into ECCU's tourism sector competitiveness / by Manuk Ghazanchyan, Li Zhao, Steve Brito and Vivian Parlak. |
| title_short | New insights into ECCU's tourism sector competitiveness / |
| title_sort | new insights into eccu s tourism sector competitiveness |
| topic | Tourism. http://id.loc.gov/authorities/subjects/sh85136255 Tourism fast |
| topic_facet | Tourism. Tourism |
| work_keys_str_mv | AT ghazanchyanmanuk newinsightsintoeccustourismsectorcompetitiveness AT britosteve newinsightsintoeccustourismsectorcompetitiveness AT zhaoli newinsightsintoeccustourismsectorcompetitiveness AT internationalmonetaryfund newinsightsintoeccustourismsectorcompetitiveness |