환율과 경기가 한국의 주요 도착국 관광수요에 미치는 효과

The Effects of Exchange Rates and Business Indicators on the Korean Tourism Demand in Leading Destination Countries

Korean tourism demand is known to respond to such variables as income, relative prices, and exchange rates. The responsiveness of Korean tourism demand to changes in these variables in the tourism of destination countries, however, is not known. This paper, hence, examines the responsiveness of Korean tourism demand to changes in income and exchange rates, using Zellner’s seemingly unrelated regression method and the rolling regression. The results showed that, in the long run, the income variable has a much greater influence on Korean tourism demand than the exchangerate does. The Impulse Response Function indicates that while the tourists respond negatively to the shock in the exchange rate, their response to the shock in the income variable is more positive.