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International Handbook on the Economics of Tourism

Edited by Larry Dwyer and Peter Forsyth

This highly accessible and comprehensive Handbook presents a cutting edge discussion of the state of tourism economics and its likely directions in future research. Leading researchers in the field explore a wide range of topics including: demand and forecasting, supply, transport, taxation and infrastructure, evaluation and application for policy-making. Each chapter includes a discussion of its relevance and importance to the tourism economics literature, an overview of its main contributions and themes, a critical evaluation of existing literature and an outline of issues for further conceptual and applied research.
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Chapter 1: A Survey of Tourism Demand Modelling Practice: Issues and Implications

Christine Lim


Christine Lim Introduction Tourism exports have become an important sector in many countries as a growing source of foreign exchange earnings. This has arisen through the rapid expansion of international tourism, which is mainly attributed to high growth rates of income in developed and newly industrialised countries, shorter working hours and the substantial decrease in real transportation costs between countries. Besides generating foreign exchange earnings and alleviating the balance of payments problems encountered in many countries, international tourism also creates employment. Most tourism businesses are small and/or medium-sized enterprises. As a labourintensive industry, it absorbs an increasing percentage of the labour force released from agriculture and the manufacturing industries, and prevents large-scale unemployment. For instance, it is estimated that the tourism industry employed more than 550 000 people and generated AU$17 billion per annum in export earnings in Australia in 2001–02. Other benefits contributed by international tourism include increasing income, savings, investment and economic growth. Tourism has also contributed significantly to regional economic development, rejuvenation and sustainability in Australia. Tourism development and growth have undoubtedly taken place at considerable cost in some destination countries. Unlike other industrial activities, both tourism production and consumption take place in the destination. The provision of tourism infrastructure requires capital investment, and land acquisition for tourism projects can distort the housing market. These activities may in turn give rise to inflation as they compete for the country’s scarce resources. Although destinations try to preserve and capitalise on their environment to...

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