References

• Balli, H. O., Tsui, W. H. K., & Balli, F. (2019). Modelling the volatility of international visitor arrivals to New Zealand. Journal of Air Transport Management, 75(C), 204–214. https://doi.org/10.1016/j.jairtraman.2018.10.002
   Google Scholar
• Blackburne, E. F., III, & Frank, M. W. (2007). Estimation of nonstationary heterogeneous panels. The Stata Journal: Promoting Communications on Statistics and Stata, 7(2), 197–208. https://doi.org/10.1177/1536867x0700700204
   Google Scholar
• Cheng, K. M. (2012). Tourism demand in Hong Kong: Income, prices, and visa restrictions. Current Issues in Tourism, 15(3), 167–181. https://doi.org/10.1080/13683500.2011.569011
   Google Scholar
• Crouch, G. I. (1996). Demand elasticities in international marketing: A metaanalytical application to tourism. Journal of Business Research, 36(2), 117–136. https://doi.org/10.1016/0148-2963(95)00086-0
   Google Scholar
• Dogru, T., Turk, E. S., & Crouch, G. I. (2017). Remodeling international tourism demand: Old theory and new evidence. Tourism Management, 60(C), 47–55. https://doi.org/10.1016/j.tourman.2016.11.010
   Google Scholar
• Dogru, T., & Sirakaya-Turk, E. (2018). Modeling Turkish outbound tourism demand using a dynamic panel data approach. Tourism and Hospitality Research, 18(4), 411–414. https://doi.org/10.1177/1467358416663822
   Google Scholar
• Enders, W. (2004). Modelling volatility. Applied Econometrics Time Series (2nd ed.). John-Wiley & Sons.
   Google Scholar
• Gatta, W., & Falzon, J. (2014). British tourism demand elasticities in Mediterranean countries. Applied Economics, 46(29), 3548–3561. https://doi.org/10.1080/00036846.2014.934432
   Google Scholar
• Kraipornsak, P. (2011). The world economy, competition, external shocks and demand for international tourist arrivals in Thailand. International Journal Trade and Global Markets, 4(1), 93–118. https://doi.org/10.1504/IJTGM.2011.03789
   Google Scholar
• Kulendran, N., & Witt, S. F. (2003). Leading indicator tourism forecasts. Tourism Management, 24(5), 503–510. https://doi.org/10.1016/S0261-5177(03)00010-4
   Google Scholar
• Kumar, N., Kuma, R. R., Patel, A., Hussain Shahzad, S. J., & Stauvermann, P. J. (2020). Modelling inbound international tourism demand in small Pacific Island countries. Applied Economics, 52(10), 1031–1047. https://doi.org/10.1080/00036846.2019.1646887
   Google Scholar
• Li, G., Song, H., & Witt, S. F. (2005). Recent developments in econometric modeling and forecasting. Journal of Travel Research, 44(1), 82–99. https://doi.org/10.1177/0047287505276594
   Google Scholar
• Li, G., Wong, K. F., Song, H., & Witt, S. F. (2006). Tourism demand forecasting: A time varying parameter error correction model. Journal of Travel Research, 45(2), 175–185. https://doi.org/10.1177/0047287506291596
   Google Scholar
• Li, H., Goh, C., Hung, K., & Chen, J. L. (2018). Relative climate index and its effect on seasonal tourism demand. Journal of Travel Research, 57(2), 178–192. https://doi.org/10.1177/0047287516687409
   Google Scholar
• Lin, V. S., Liu, A., & Song, H. (2015). Modeling and forecasting Chinese outbound tourism: an econometric approach. Journal of Travel & Tourism Marketing, 32(1–2), 34–49. https://doi.org/10.1080/10548408.2014.986011
   Google Scholar
• Liu, T. M. (2016). The influence of climate change on tourism demand in Taiwan national parks. Tourism Management Perspectives, 100(20), 269–275. https://doi.org/10.1016/j.tmp.2016.10.006
   Google Scholar
• Lorde, T., Li, G., & Airey, D. (2016). Modeling Caribbean tourism demand: An augmented gravity approach. Journal of Travel Research, 55(7), 946–956. https://doi.org/10.1177/0047287515592852
   Google Scholar
• Martin, C. A., & Witt, S. F. (1989). Forecasting tourism demand: A comparison of the accuracy of several quantitative methods. International Journal of Forecasting, 5(1), 7–10. https://doi.org/10.1016/0169-2070(89)90059-9
   Google Scholar
• Munoz, T. G. (2007). German demand for tourism in Spain. Tourism Management, 28(1), 12–22. https://doi.org/10.1016/j.tourman.2005.07.020
   Google Scholar
• Narayan, P. K., & Narayan, S. (2005). Estimating income and price elasticities of imports for Fiji in a cointegration framework. Economic Modelling, 22(3), 423–438. https://doi.org/10.1016/j.econmod.2004.06.004
   Google Scholar
• Nguyen, H. Q. (2021a). Elasticity of tourism demand by income and price: Evidence from domestic tourism of countries in ASEAN. Cogent Social Sciences, 7(1), 1996918. https://doi.org/10.1080/23311886.2021.1996918
   Google Scholar
• Nguyen, Q. H. (2021b). Impact of investment in tourism infrastructure development on attracting international visitors: A nonlinear panel ARDL approach using Vietnam’s data. Economies, 9(3), 131. https://doi.org/10.3390/economies9030131
   Google Scholar
• Nguyen, Q. H. (2021c). The roles of income and prices in determining international tourism demand: Evidence from the Mekong downstream nations’ major international markets. Journal of China Tourism Research, 17(3), (1–27). https://doi.org/10.1080/19388160.2021.1997854
   Google Scholar
• Nkoro, E., & Uko, A. K. (2016). Autoregressive distributed lag (ARDL) cointegration technique: Application and interpretation. Journal of Statistical and Econometric Methods, 5(4), 63–91. http://www.scienpress.com/Upload/JSEM/Vol%205_4_3.pdf
   Google Scholar
• Ouerfelli, C. (2008). Co-integration analysis of quarterly European tourism demand in Tunisia. Tourism Management, 29(1), 127–137. https://doi.org/10.1016/j.tourman.2007.03.022
   Google Scholar
• Peng, B., Song, H., & Crouch, G. I. (2014). A meta-analysis of international tourism demand forecasting and implications for practice. Tourism Management, 45(C), 181–193. https://doi.org/10.1016/j.tourman.2014.04.005
   Google Scholar
• Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616
   Google Scholar
• Ramos, V., Untong, A., & Kaosa-ard, M. (2017). ASEAN’s intra-regional tourism demand to Thailand. Asia Pacific Journal of Tourism Research, 22(9), 909–921. https://doi.org/10.1080/10941665.2017.1359192
   Google Scholar
• Salisu, A. A., & Isah, K. O. (2017). Revisiting the oil price and stock market nexus: A nonlinear Panel ARDL approach. Economic Modelling, 66(C), 258–271. https://doi.org/10.1016/j.econmod.2017.07.010
   Google Scholar
• Samirkaş, M., & Samirkaş, M. C. (2015) The Impact of Exchange Rate on Tourism Industry: The Case of Turkey. Handbook of Research on Global Hospitality and Tourism Management. (IGI Global), 107–118. https://doi.org/10.4018/978-1-4666-8606-9.ch007
   Google Scholar
• Seetaram, N. (2012). Immigration and international inbound tourism: Empirical evidence from Australia. Tourism Management, 33(6), 1535–1543. https://doi.org/10.1016/j.tourman.2012.02.010
   Google Scholar
• Seetaram, N., Forsyth, P., & Dwyer, L. (2016). Measuring price elasticities of demand for outbound tourism using competitiveness indices. Annals of Tourism Research, 56(1), 65–79. https://doi.org/10.1016/j.annals.2015.10.004
   Google Scholar
• Shafiullah, M., Okafor, L. E., & Khalid, U. (2018). Determinants of international tourism demand: Evidence from Australian states and territories. Tourism Economics, 25(2), 274–296. https://doi.org/10.1177/1354816618800642
   Google Scholar
• Shen, S., Li, G., & Song, H. (2011). Combination forecasts of international tourism demand. Annals of Tourism Research, 38(1), 72–89. https://doi.org/10.1016/j.annals.2010.05.003
   Google Scholar
• Smeral, E. (2010). Impacts of the world recession and economic crisis on tourism: Forecasts and potential risks. Journal of Travel Research, 49(1), 31–38. https://doi.org/10.1177/0047287509353192
   Google Scholar
• Smeral, E. (2017). Tourism forecasting performance considering the instability of demand elasticities. Journal of Travel Research, 56(7), 913–926. https://doi.org/10.1177/0047287516671435
   Google Scholar
• Song, H., Romilly, P., & Liu, X. (2000). An empirical study of outbound tourism demand in the UK. Applied Economics, 32(5), 611–624. https://doi.org/10.1080/000368400322516
   Google Scholar
• Song, H., Wong, K. K., & Chon, K. K. (2003). Modelling and forecasting the demand for Hong Kong tourism. International Journal of Hospitality Management, 22(4), 435–451. https://doi.org/10.1016/S0278-4319(03)00047-1
   Google Scholar
• Song, H., & Turner, L. (2006). International handbook on the economics of tourism, (Edward Elgar), 89–114.
   Google Scholar
• Song, H., Witt, S. F., & Li, G. (2009). The advanced econometrics of tourism demand. Routledge, New York.
   Google Scholar
• Song, H., & Lin, S. (2010). Impacts of the financial and economic crisis on tourism in Asia. Journal of Travel Research, 49(1), 16–30. https://doi.org/10.1177/0047287509353190
   Google Scholar
• Song, H., Qiu, R. T., & Park, J. (2019). A review of research on tourism demand forecasting: Launching the annals of tourism research curated collection on tourism demand forecasting. Annals of Tourism Research, 75(C), 338–362. https://doi.org/10.1016/j.annals.2018.12.001
   Google Scholar
• Surugiu, C., Leitão, N. C., & Surugiu, M. R. (2011). A panel data modelling of international tourism demand: Evidences for Romania. Economic research-Ekonomska istraživanja, 24(1), 134–145. https://doi.org/10.1080/1331677X.2011.11517450
   Google Scholar
• Untong, A., Ramos, V., Kaosa-Ard, M., & Rey-Maquieira, J. (2015). Tourism demand analysis of Chinese arrivals in Thailand. Tourism Economics, 21(6), 1221–1234. https://doi.org/10.5367/te.2015.0520
   Google Scholar
• Vanegas, M., & Croes, R. (2000). Evaluation of demand: US tourist to Aruba. Annals of Tourism Research, 27(4), 946–963. https://doi.org/10.1016/S0160-7383(99)00114-0
   Google Scholar
• Wooldridge, J. M. (2015). Introductory econometrics: A modern approach (5th ed.). 13: 978-1-111-53104-1. Cengage Learning.
   Google Scholar
• The World Bank. (2021). World Bank Open Data. Retrived from https://data.worldbank.org/
   Google Scholar
• World Tourism Organization – UNWTO. (2021). Tourism statistics. https://www.e-unwto.org/toc/unwtotfb/current
   Google Scholar
• Xu, L., Wang, S., Li, J., Tang, L., & Shao, Y. (2018). Modelling international tourism flows to China: A panel data analysis with the gravity model. Tourism Economics, 25(7), 1047–1069. https://doi.org/10.1177/1354816618816167
   Google Scholar