Abstract (150 Words)
This paper investigates the causal relationship among Korean outbound tourism demand for seven countries such as United States, China, Hong Kong, Japan, Philippines, Singapore, and Thailand. Since there are no long-run relationships among Korean outbound tourism demand for those international destinations the vector autoregressive (VAR) model is used for testing such causality. From the causality results, we found United States is leading country for Korean outbound tourism demand. When Korean tourism demands for United States increase, those for the other countries get a raise. Also, tourism demand for Thailand is influenced by tourism demands for three countries such as Hong Kong, Singapore and United States. Our results imply that government and managerial implications are recognized based on the empirical findings.
KOREA OUTBOUND TOURISM TO SEVEN COUNTRIES: VAR MODEL AND GRANGER CAUSALITY TEST
This paper investigates the causal relationship among Korean outbound tourism demand for seven countries such as United States, China, Hong Kong, Japan, Philippines, Singapore, and Thailand. Since there are no long-run relationships among Korean outbound tourism demand for those international destinations the vector autoregressive (VAR) model is used for testing such causality. From the causality results, we found United States is leading country for Korean outbound tourism demand. When Korean tourism demands for United States increase, those for the other countries get a raise. Also, tourism demand for Thailand is influenced by tourism demands for three countries such as Hong Kong, Singapore and United States. Our results imply that government and managerial implications are recognized based on the empirical findings.
