Exchange rate movements and its effect on tourism demand in Colombia

The tourism represents a fundamental activity inside an economy, for the different impacts that it has on other sectors. In the world one is living certain peak in the tourist activity, reflecting Colombia similar tendencies in this matter. Recently it is showing up a phenomenon revaluativo of the e...

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Detalles Bibliográficos
Autores principales: Quejada-Pérez, Raúl, Del Río-Carrasquilla, Felipe
Formato: Revistas
Lenguaje:Español
Publicado: Universidad de Cartagena 2007
Acceso en línea:https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/405
Descripción
Sumario:The tourism represents a fundamental activity inside an economy, for the different impacts that it has on other sectors. In the world one is living certain peak in the tourist activity, reflecting Colombia similar tendencies in this matter. Recently it is showing up a phenomenon revaluativo of the exchange rate peso-dollar, aspect this that motivates to the study of such a situation, and the influence that has this variable on the demand of exports to investigate and of tourist imports, what constitutes the object of study of the present work. The method of MCO (Square Ordinary Minima) is the tool that allows the attainment of such a purpose, after verifying the existence of unitary roots. Finally the obtained results allow to conclude that for the foreign tourists the relative prices don't turn out to be decisive when deciding to consider to Colombia like tourist destination and that the Colombians that decide to make tourism in the exterior taking advantage the context favorable revaluativo that is reflected in the progressive decreases in the level of internal prices.Key Words: tourism, demand, revaluation, relative prices.