Giray Gözgör|Ender Demir
The Effects of Economic Policy Uncertainty on Outbound Travel Expenditures
tourism one fastest growing industries makes important contributions economiesbased literature aims determine factors affecting tourism demand behaviorin paper analyze effect economic policy uncertainty epu total personal outbound travel expenditures panel data 17 developed developing countriesthis first paper examine impact epu travel expenditures within tourism demand frameworkby using fixedeffects least square dummy variable lsdv estimation techniques find increase level uncertainty decreases travel expendituresour findings imply people experience increase uncertaintyrelated economic policies tend decrease expenditures abroadon average one standard deviation rise epu leads 3 6 decrease total personal travel expenditureswe also find effect epu travel expenditures higher developing economies compared developed countriesthe empirical results paper suggest governments realize suppressing effect uncertainties economic policies tourism demand