How Real Oil Prices and Domestic Financial Instabilities are Good for GCC Countries Tourism Demand in Malaysia
Nanthakumar Loganathan,Dalia Streimikiene,Tirta Nugraha Mursitama,Muhammad Shahbaz,Abbas Mardani +4 more
TLDR
In this paper, the authors employed the threshold error correction (TECM) cointegration and nonlinear causality estimates to capture the nexus between real energy prices and financial stability for the GCC countries' tourism demand in Malaysia using the monthly-based dataset covering the period since 1995 till 2017.Abstract:
Malaysia, located in the heart of Southeast Asia, is a multicultural country whose ‘green’ and ‘blue’ tourism attractions have become the main tourism spot for the Cooperation Council for the Arab States of the Gulf (GCC) tourists. We employed the Threshold Error Correction (TECM) cointegration and the nonlinear causality estimates to capture the nexus between real energy prices and financial stability for the GCC countries’ tourism demand in Malaysia using the monthly-based dataset covering the period since 1995 till 2017. The main TECM estimate shows that real energy price fluctuations and financial instability condition in Malaysia positively boost tourists’ arrivals from the GCC countries to Malaysia. Indeed, there is evidence of an asymmetric speed of adjustment of the GCC countries’ tourism demand with 25.9% and 36.7% of positive and negative deviations, respectively. In addition, this study found a strong evidence of unidirectional nonlinear causal relations running from real energy prices to tourism demands; and also bidirectional causalities running from tourism demand to financial stability. These findings will be helpful for tourism policy makers in Malaysia while drawing a future roadmap to increase the numbers of the GCC tourists’ arrivals in future years.read more
Citations
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The nexus between tourism demand and output per capita with the relative importance of trade openness and financial development: A study of Malaysia
TL;DR: The authors revisited the tourism-growth nexus in Malaysia using time series quarterly data over the period 1975-2013 and examined the impact of tourism using two separate indicators, tourism receipts per capita and visitor arrivals per capita.
Journal ArticleDOI
Dynamic spillovers between gulf cooperation council's stocks, VIX, oil and gold volatility indices
TL;DR: In this paper, the conditional correlations between the stock market returns of countries that are members of the Gulf Cooperation Council (GCC) are analyzed, focusing on three volatility indices: the oil (OVX), gold (GVZ), and SP.
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Data analysis and forecasting of tourism development in Ukraine
Andrii Roskladka,Nataliia Roskladka,Oleksandr Dluhopolskyi,Ganna Kharlamova,Mehmet Kiziloglu +4 more
TL;DR: In this article, a thorough study of tourist flows in Ukraine during the last 18 years was carried out and the authors explored the tendencies of the development of international tourism and their influence on tourism in Ukraine and paid particular attention to the analysis of inbound tourist flows.
References
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