IMPACT OF REVENUES CHANGES IN MAINISSUING COUNTRIES ON TOURIST TRAFFIC IN CROATIA

The authors in this paper made a research of long-term and short-term elasticity of Croatian tourist traffic on revenue change in Slovenia, Italy, Germany and Austria for the period January 1994 to December 1998. For indicators of tourist traffic they took a number of ovemights and foreign tourist arrivals and for income indicators nominal wages and adjusted wages by rate and prices. By cointegration analysis they concluded that there were long-term strong connections with high elasticity coefficient between income and tourist traffic realized by tourists from analyzed countnes. In short analysis by the help of vector error correction model the authors concluded that single income shocks in analyzed countries do not have a significant impact on change of tourist traffic in Croatia.