Description
Title: Empirical Evidence from Mexico: Measuring the Impact of the Misery Index on International Tourist Departures
Abstract: One of the most crucial topics in tourism studies is how tourism can reduce poverty because it has the potential to spur economic growth and create jobs. On the other hand, it is well known that unemployment and low income have a negative impact on travel abroad; however, the link between travel abroad and poverty has received little research. In this study, we compute a vector autoregressive (VAR) model to examine the relationship between tourist departures from Mexico and a modified misery index to determine the impact of the decline in wellbeing, expressed in terms of this index, on the quantity of outbound travelers. The findings suggest that rising levels of the misery index have a detrimental impact on the number of tourists leaving the country. On the other hand, the impact of tourist departures on the misery index is not statistically significant. The findings imply that the misery index is positively impacted by the national currency’s depreciation. The historical decomposition analysis was used to confirm that the first COVID-19 wave’s misery index was not significantly correlated with outbound travel.
Keywords: international tourism; Okun’s misery index; outbound tourism; poverty; unrestricted VAR
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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