Tourism and Empirical Applications of International Trade Theory: A Multi-Country Analysis
This paper examines the application of quantitative techniques to further our understanding of international trade theory with respect to tourism flows. The analyses are based on the construction of Balassa and Grubel-Lloyd Indices, as well as the construction of dynamic indices. The results of the analyses suggest that international trade theory has much to offer the study of international tourism flows. Many countries seem to specialize as both exporters and importers of tourism services. The analyses also explore the theoretical assertion that intra-industry trade is likely to be of importance in understanding international tourism flows.