Are tourist arrivals stationary? Evidence from BRIC countries

Abstract

In this study, we attempted to analyse whether the shocks to tourist arrivals in BRIC countries are temporary or permanent, by analysing the stationary characteristics of the data in panel framework. We found that, for Brazil, Russia and India, tourist arrivals are stationary process, whereas for China it is non-stationary process. This implies that shocks to the tourism sector in Brazil, Russia and India have only temporary effect, whereas the shocks to China's tourism sector have permanent effects.

Keywords:

• tourist arrivals
• panel unit root test
• shocks
• BRIC

Notes

1 The source countries are Brazil: Argentina, USA, Italy, Uruguay, Germany, Chile, France, Paraguay, Portugal, Spain, England, Bolivia, Colombia, Peru and Netherlands. Russia: Germany, China, the USA, the UK, Turkey, Italy, France, Finland, Israel, Spain, Japan, Republic of Korea, Netherlands, Brazil, Latvia, India, South Africa and Estonia. India: the USA, the UK, Bangladesh, Sri Lanka, Canada, France, Germany, Japan, Australia, Malaysia, Singapore, China, Russia, Italy and South Korea. China: Republic of Korea, Japan, Russia, the USA, Vietnam, Malaysia, Mongolia, Philippines, Singapore, Australia, Canada, India, Thailand, Germany, UK and Brazil.

2 We have performed LM test with one break. The break dates will be available upon request.