Abstract:
The aim of the paper is to investigate the effect of income of tourists, tourism
price, trade openness and international outbound tourists in tourism origin countries
on the tourism demand to the Czech Republic as well as to South Moravia Tourist
Region of the Czech Republic from tourists coming from thirteen different countries is
analysed. This paper applies panel co-integration analysis through a common
correlation effect model (CCE). According to the obtained estimation results, income
and trade openness have a significant positive influence on international arrivals to
the Czech Republic, while for tourism price the results indicate that it has a negative
influence on inflows, as expected. The effect of international outbound tourists on
tourism demand in the Czech Republic is negative, against expectations, but it is not
statistically significant. For tourism demand in the SMT region, income has a
significant positive influence on international arrivals to the South Moravia tourist
region, as it regards relative price, the negative sign of the coefficient is the same as
the expected one. The effects of trade openness and international outbound tourists on
tourism demand in the SMT region have expected positive signs but they are not
statistically significant.
