Modelling Tourism Demand in Portugal

  • Ana C. M. Daniel
  • Paulo M. M. Rodrigues


Tourism is an important economic activity of Portugal. According to preliminary data from the Portuguese Office for National Statistics (INE 2009), tourism generated in 2008 about 5% of the Economy’s Added Gross Value, corresponding to approximately 7.3 billion Euros. The 2008 Report on Competitiveness of Travel and Tourism, ranked Portugal 15th from a list of 130 countries in terms of tourism industry competitiveness. Overall, Portugal climbed 7 positions in relation to 2007 and 4 positions among all 27 EU countries (Portugal Digital 2008). Amador and Cabral (2009) present a detailed analysis of the services industry in Portugal and show that this positive evolution has occurred in this sector in general and reveals a comparative advantage in the travel and tourism industry.


Conditional Variance Tourism Industry GARCH Model Exchange Rate Volatility Asymmetric Effect 
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Copyright information

© Springer-Verlag Berlin Heidelberg 2011

Authors and Affiliations

  1. 1.ESTG – Instituto Politécnico da Guarda and CASEEGuardaPortugal
  2. 2.Department of Economic ResearchBanco de PortugalLisbonPortugal

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