Exploring the tourism markets’ convergence hypothesis in Italy

Bibliographic Data

ID21689490
AuthorsPietro Pizzuto (0000-0001-5055-8916, University of Palermo, Italy, corresponding author), Caterina Sciortino (0000-0002-9703-8392, University of Palermo, Italy)
Year2021
Volume27
Issue8
Pages1839-1847
Publication date2021-12-01
Open AccessYes
TypeARTICLE
VenueTourism Economics (JOURNAL)
Journal identifiersISSN: 1354-8166 • E-ISSN: 2044-0375
PublisherSAGE Publications (PUBLISHER • US)
DOI10.1177/1354816620940436
OpenAlexW4239558256
LanguageEN
Citations received3
References cited19

This article aims at investigating the tourism markets’ convergence hypothesis across Italy’s 20 major source markets. To reach our goal, we use monthly data of tourist arrivals and overnights over the period 2008–2018 and the time-varying factor model developed by Phillips and Sul (2007, 2009). Our findings suggest the absence of full (absolute) convergence, leading us to accept the hypothesis of club convergence. We show that the traditionally more important source markets have a tendency to persist, while Asian countries show heterogeneous behaviour. Furthermore, the relative decline in the contribution to total arrivals and overnights of several international source markets calls for a reconsideration of the promotional strategies to stimulate inbound tourism from these countries

Club · Convergence clubs · Econometrics · Economic geography · Economics · Financial economics · Geography · Macroeconomics · Tourism · Diverse Aspects of Tourism Research · Economic and Environmental Valuation · Regional Economics and Spatial Analysis

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