Economic crisis and tourism competitiveness in Spain: permanent effects or transitory shocks?

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Title: Economic crisis and tourism competitiveness in Spain: permanent effects or transitory shocks?
Authors: Perles Ribes, José Francisco | Ramón-Rodríguez, Ana B. | Rubia, Antonio | Moreno-Izquierdo, Luis
Research Group/s: Economía del Turismo, Recursos Naturales y Nuevas Tecnologías (INNATUR) | Internacionalización de la Empresa y Comercio Exterior | Finanzas de Mercado y Econometría Financiera
Center, Department or Service: Universidad de Alicante. Departamento de Análisis Económico Aplicado | Universidad de Alicante. Departamento de Economía Financiera y Contabilidad
Keywords: Economic crisis | Tourism destinations competitiveness | Unit root analysis | Structural shocks | Permanent effects | Time-series analysis
Knowledge Area: Economía Aplicada | Economía Financiera y Contabilidad
Issue Date: 2013
Publisher: Routledge
Citation: Current Issues in Tourism. 2013. doi:10.1080/13683500.2013.849666
Abstract: This paper considers the influence of business cycles and economic crises on Spain's tourism competitiveness. This competitiveness is measured by its share in world tourism. Analysing the presence of unit roots in the market share series from 1958 to 2010, the permanent effects of economic crises on competitiveness are evaluated. The evidence from standard linear unit root tests indicates that crises on Spanish market shares are highly persistent. When we account for endogenously determined structural breaks, we obtain greater support for stationarity, but breakpoints are identified with major economic crises. Therefore the main conclusion obtained is that the effects of the economic shocks are not neutral on competitiveness, with the negative effects being more persistent in highly intensive crises. These crises reinforce a natural downward trend of the Spanish world tourism market share caused by the natural emergence of new competing destinations and by the maturity of the Spain's principal tourism product.
ISSN: 1368-3500 (Print) | 1747-7603 (Online)
DOI: 10.1080/13683500.2013.849666
Language: eng
Type: info:eu-repo/semantics/article
Rights: © 2013 Taylor & Francis
Peer Review: si
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Appears in Collections:INV - Internacionalización de la Empresa y Comercio Exterior - Artículos de Revistas
INV - INNATUR - Artículos de Revistas
INV - Finanzas de Mercado y Econometría Financiera - Artículos de Revistas
INV - ECO-IA - Artículos de Revistas

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