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Exchange Rate Volatility and Outbound Turism Demand: Evidence from Korea

  • Journal of Tourism Sciences
  • Abbr : JTS
  • 2004, 27(4), pp.147~162
  • Publisher : The Tourism Sciences Society Of Korea
  • Research Area : Social Science > Tourism

soowon mo 1

1목포대학교

Accredited

ABSTRACT

Volumes of research have been implemented to estimate and predict the international tourism demand. These studies have generally modeled the tourism demand function of exchange rates, prices, income, transportation, and population. Unobservable variables that have been overlooked in past research, however, are likely to affect outbound tourists from Korea. This study therefore investigated whether the exchange rate volatility weakened the Korean international tourism demand through the use of the GARCH volatility model. Empirical results showedthat combining the exchange rate volatility from the GARCH model not only had a negative effect on tourism demand but also slowly eroded it.

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CC BY 아이콘

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This paper was written with support from the National Research Foundation of Korea.
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