RS22496 - Energy Prices and Tourism: Some Preliminary Observations
17-Aug-2006; Bernard A. Gelb; 6 p.
Abstract: Energy prices faced by consumers have risen steeply in the last few years, and it is likely that spending on energy substituted at least to some extent for spending on other goods and services. It is widely believed that increases in energy prices, particularly gasoline, negatively affect tourism. The data presented provide partial and preliminary support on an aggregate level. On the other hand, there is anecdotal evidence that the effect may not be large. In addition, only part of any slowdown in tourism should be attributed to energy prices. This report will be updated when warranted by events.
Topics: Energy, General Interest, Transportation