Proceedings of
International Conference on Advances in Economics, Social Science and Human Behaviour Study ESSHBS 2015
"THE IMPACTS OF CHANGING IN MACROECONOMIC FACTORS ON FOREIGN TOURISM REVENUE AND SECTORAL OUTPUT IN THAILAND"
Abstract: “For the long journey of Thai’s economy, tourism sector is one of the major source of revenue even in the period of crisis or in the midst of the turbulence time. Especially, in the past two decades, the major economic factors including exchange rate, economic growth and political condition become more volatile but the foreign tourism revenue still growing with positive trend. Therefore, the objective of this paper is to explore the impacts of the changing in macroeconomic factors on foreign tourism revenue and sector output in Thailand after the financial crisis in 1997. In order to achieve the objective, the analytic framework was set up based on the estimation of behavioral equation and the calculation of input-output table. For the first step, the behavioral equation of foreign tourism revenue was specified and estimated by OLS together with the Engle and Granger cointegration test. Based on the annual data during 1998-2013, foreign tourists income, Thai’s economic growth, exchange”
Keywords: tourism revenue, bridge matrix, sectoral output