This study forms an entirely new area of research on Small Island
Tourism Economies (SITEs). It addresses the importance of
uncertainty in monthly international tourist arrivals and country
risk indicators to the macroeconomy. Conditional volatilities are
estimated for international tourist arrivals, and an economic
interpretation from the estimated results is provided. In achieving
these two objectives, this work presents an extensive assessment of
the important characteristics and the impact of tourism in SITEs in
relation to their gross domestic product, balance of payments,
employment and foreign direct investment, among other factors. This
book is unique in giving emphasis to macroeconomic implications
rather than an industry focus.The Economics of Small Island Tourism
will appeal to academics at the undergraduate and postgraduate
levels involved in environmental and tourism management as well as
tourism economics.
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