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The Economics of Small Island Tourism

International Demand and Country Risk Analysis Riaz Shareef, Edith Cowan University, Australia, Suhejla Hoti, Department of Treasury and Finance, Government of Western Australia and Michael McAleer, Professor of Quantitative Finance, Econometric Institute, Erasmus School of Economics, Erasmus University Rotterdam, The Netherlands
This study forms an entirely new area of research on Small Island Tourism Economies (SITEs). It addresses the importance of uncertainty in monthly international tourist arrivals and country risk indicators to the macroeconomy.
Extent: 352 pp
Hardback Price: $160.00 Web: $144.00
Publication Date: 2008
ISBN: 978 1 84720 649 7
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  • Development Studies
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  • Economics and Finance
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This study forms an entirely new area of research on Small Island Tourism Economies (SITEs). It addresses the importance of uncertainty in monthly international tourist arrivals and country risk indicators to the macroeconomy. Conditional volatilities are estimated for international tourist arrivals, and an economic interpretation from the estimated results is provided. In achieving these two objectives, this work presents an extensive assessment of the important characteristics and the impact of tourism in SITEs in relation to their gross domestic product, balance of payments, employment and foreign direct investment, among other factors. This book is unique in giving emphasis to macroeconomic implications rather than an industry focus.

The Economics of Small Island Tourism will appeal to academics at the undergraduate and postgraduate levels involved in environmental and tourism management as well as tourism economics.
Contents: Foreword by Matteo Manera 1. Introduction 2. Salient Features of Small Island Tourism Economies 3. A Survey of Empirical Analysis in Tourism Demand 4. Economic Profiles, Tourism Composition and Trends in Country Risk in Small Island Tourism Economies 5. Models of Symmetric and Asymmetric Conditional Volatility: Structure, Asymptotic Theory and Applications to Tourism Demand 6. Modelling Uncertainty in International Tourist Arrivals to Maldives 7. Modelling Country Risk and Volatility in Small Island Tourism Economies 8. Conclusion Index