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An Estimation of Foreign Inbound Tourism Receipt and its Implication on the Tourism Policy

  • Journal of Tourism Sciences
  • Abbr : JTS
  • 2010, 34(9), pp.97-115
  • Publisher : The Tourism Sciences Society Of Korea
  • Research Area : Social Science > Tourism

Ryu Deockhyun 1

1중앙대학교

Accredited

ABSTRACT

This study investigated the relationship between exchange rate change and inbound tourism receipt of Korea and its implication on tourism policy. In order do this, time series data(2000-2010) were constructed using the Tourism Knowledge Information System of Korean government and IMF’s International Financial Statistics. By using the double composite weights of three individual countries(Japan, China, USA)’ inbound tourists and average length of stay, the individual countries’ inbound tourism receipt were estimated. Then, the elasticities of the exchange rate were evaluated. Results showed that the elasticity of tourism receipt was high, while the elasticity of the number of inbound tourist was low. This indicated inbound foreign tourists respond less sensitively to the change of exchange rate before their travel to Korea, while they might respond more sensitively to the exchange rate after their entry to Korea. Korean tourism administrators might need to consider this to develop a better inbound tourism policies.

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