Nugraha, Yulvira Rizka Putri
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Indonesian Tourism Demand by ASEAN Tourist: A Panel Data Analysis Nugraha, Yulvira Rizka Putri; Naylah, Maal
Signifikan: Jurnal Ilmu Ekonomi Vol 12, No 1 (2023)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v12i1.29894

Abstract

Indonesia recorded the lowest average foreign tourist arrivals compared to ASEAN central countries, thus proving that Indonesia has yet to be thoroughly used as the primary destination for foreign tourists. Market forces influence the low number of foreign tourist arrivals in Indonesia. This study analyzes the impact of determining factors of ASEAN tourism demand in Indonesia. Panel data analysis with the Fixed Effect Model selection model was used to explore Indonesia’s tourism demand from five ASEAN countries from 2001 to 2020. The results showed that tourist expenditure, CPI, terrorism, and COVID-19 significantly negatively affect the number of Indonesian tourist visits. In contrast, the exchange rate and GDP per capita significantly positively impact the number of Indonesian tourist visits. Indonesia needs to improve the quality of tourism products and services to increase foreign tourist arrivals and implement international cooperation to create promotions for domestic tourism.JEL Classification: C33, L83, Z3How to Cite:Nugraha, Y. R. P., & Naylah, M. (2022). Indonesian Tourism Demand by ASEAN Tourist: A Panel Data Analysis. Signifikan: Jurnal Ilmu Ekonomi, 12(1), 45-56. https://doi.org/10.15408/sjie.v12i1.27999.
Indonesian Tourism Demand by ASEAN Tourist: A Panel Data Analysis Nugraha, Yulvira Rizka Putri; Naylah, Maal
Signifikan: Jurnal Ilmu Ekonomi Vol. 12 No. 1 (2023)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v12i1.29894

Abstract

Indonesia recorded the lowest average foreign tourist arrivals compared to ASEAN central countries, thus proving that Indonesia has yet to be thoroughly used as the primary destination for foreign tourists. Market forces influence the low number of foreign tourist arrivals in Indonesia. This study analyzes the impact of determining factors of ASEAN tourism demand in Indonesia. Panel data analysis with the Fixed Effect Model selection model was used to explore Indonesia’s tourism demand from five ASEAN countries from 2001 to 2020. The results showed that tourist expenditure, CPI, terrorism, and COVID-19 significantly negatively affect the number of Indonesian tourist visits. In contrast, the exchange rate and GDP per capita significantly positively impact the number of Indonesian tourist visits. Indonesia needs to improve the quality of tourism products and services to increase foreign tourist arrivals and implement international cooperation to create promotions for domestic tourism.JEL Classification: C33, L83, Z3How to Cite:Nugraha, Y. R. P., & Naylah, M. (2022). Indonesian Tourism Demand by ASEAN Tourist: A Panel Data Analysis. Signifikan: Jurnal Ilmu Ekonomi, 12(1), 45-56. https://doi.org/10.15408/sjie.v12i1.27999.