Impacts of regional trade agreements on international tourism demand: Empirical in Vietnam

Figures & data

Table 1. Descriptive statistics of variables in a model

Variable	Observations	Mean	Standard Deviation	Min	Max
Tourist arrival	372	11.601	1.336.001	8.676.587	1.557.448
GDP per capita of Vietnam	377	1.003.571	1.217.975	6.448.098	1.154.164
GDP per capita of origin	377	7.762.045	.1919015	7.468.347	8.086.585
Population of origin	377	1.723.989	143.068	1.525.625	210.581
Population of Vietnam	377	1.832.376	.0383805	1.826.309	1.838.466
Relative Price index	344	−1.139.159	.9318204	−493.435	3.203.188
Distance	377	8.354.389	1.003.861	5.972.256	9.532.225
Visa dummy	377	.5411141	.498969	0	1
FTA dummy	377	.1564987	.3638103	0	1
ASEAN	377	.2413793	.4284884	0	1
RTAs dummy	377	.397878	.4901104	0	1

(Source: Author’s compilation, 2022)

Table 2. List of regional trade agreements signed by Vietnam and the country of origin

No	Country	FTA	Into force	Other FTAs	Into force	ASEAN	Into force
1	Australia	U-NZ FTA	2010	CPTPP	2019
2	Belgium	EVFTA	2020
3	Cambodia	N.a	N.a			ASEAN	2007
4	Canada	CPTPP	2019
5	China	ACFTA		RCEP	2013
6	Denmark	EVFTA	2020
7	Finland	EVFTA	2020
8	France	EVFTA	2020
9	Germany	EVFTA	2020
10	Hongkong	AHKFTA	2017
11	Indonesia	N.a	N.a
12	Italy	EVFTA	2020
13	Japan	CPTPP	2019	AJFTA	2008
14	Korea	AKFTA	2009
15	Laos	N.a	N.a			RTA ASEAN	2007
16	Malaysia	N.a	N.a			RTA ASEAN	2007
17	NZ	U-NZ FTA	2010	CPTPP	2019
18	Netherlands	EVFTA	2020
19	Norway	N.a	N.a
20	Philippine	N.a	N.a			RTA ASEAN	2007
21	Russia	N.a	N.a
22	Singapore	CPTPP	2019
23	Spain
24	Sweden	EVFTA	2020
25	Switzerland	EVFTA	2020
26	Taiwan	N.a	N.a
27	Thailand	N.a	N.a			RTA ASEAN	2007
28	US, UK	N.a	N.a

(Source: Synthesis of the author group from WTO, https://www.wto.org).

(Notes: N.a: not applicable).

Table 3. FE-OLS results

VARIABLES	(1)	(2)	(3)	(4)
lnPGDPit	0.471***	0.444***	0.474***	0.572***
	(0.0730)	(0.0762)	(0.0919)	(0.0926)
lnPGDPVN	3.529	3.267	1.500	3.095
	(19.41)	(19.40)	(19.64)	(20.07)
lnPOPit	0.635***	0.632***	0.665***	0.667***
	(0.0361)	(0.0362)	(0.0341)	(0.0311)
lnPOPVN	−10.97	−9.478	0.427	−8.599
	(97.98)	(97.91)	(99.08)	(101.2)
lnRP	−0.122**	−0.126**	−0.120*	−0.106
	(0.0614)	(0.0615)	(0.0666)	(0.0660)
lnDIST	−0.866***	−0.929***	−1.119***	−0.812***
	(0.0818)	(0.0960)	(0.165)	(0.149)
Visa dummy	0.0327	0.0670	0.0416	−0.0855
	(0.103)	(0.106)	(0.0989)	(0.102)
ASEAN dummy	—	−0.267	−0.683***	—
	—	(0.215)	(0.261)	—
FTA dummy	0.756***	0.684***	—	—
	(0.131)	(0.143)	—	—
RTAs dummy	—	—	—	0.502***
	—	—	—	(0.170)
Constant	176.4	152.1	−14.75	134.4
	−1,644	−1,643	−1,663	−1,699
Observations	339	339	339	339
R-squared	0.655	0.656	0.632	0.633
Year dummy	YES	YES	YES	YES

Notes: Robust standard errors in parentheses. ***p < 0.01, **p < 0.05, * p < 0.1.

Table 4. Robustness check by using the PPML method

VARIABLES	(1)	(2)	(3)	(4)
lnPGDPit	0.0420***	0.0412***	0.0393***	0.0493***
	(0.00755)	(0.00807)	(0.00734)	(0.00775)
lnPGDPVN	−0.0218	0.0143	0.0123	−0.00464
	(0.383)	(0.378)	(0.377)	(0.385)
lnPOPit	0.0568***	0.0539***	0.0537***	0.0568***
	(0.00280)	(0.00265)	(0.00272)	(0.00248)
lnPOPVN	0.777	0.538	0.554	0.649
	−1.925	−1.904	−1.902	−1.936
lnRP	−0.00818	−0.00821	−0.00855*	−0.00683
	(0.00504)	(0.00513)	(0.00499)	(0.00522)
lnDIST	−0.0937***	−0.0744***	−0.0788***	−0.0706***
	(0.0129)	(0.00998)	(0.0143)	(0.0125)
Visa dummy	0.00442	0.00287	0.00547	−0.00638
	(0.00839)	(0.00923)	(0.00810)	(0.00858)
ASEAN dummy	−0.0513**		−0.0189
	(0.0204)		(0.0241)
FTA dummy		0.0566***	0.0513***
		(0.0102)	(0.0131)
RTA dummy				0.0384***
				(0.0144)
Constant	−12.24	−8.264	−8.483	−10.31
	(32.30)	(31.96)	(31.92)	(32.48)
Observations	339	339	339	339
R-squared	0.628	0.646	0.648	0.627

Notes: Robust standard errors in parentheses. ***p < 0.01, **p < 0.05, *p < 0.1.