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Table 1.

Variable’s construction.

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Table 1 Expand

Table 2.

Descriptive statistics from 2005 to 2018.

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Table 2 Expand

Fig 1.

Moran’s I across countries.

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Fig 1 Expand

Table 3.

The LR test is used to determine whether models contain fixed effects.

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Table 3 Expand

Table 4.

The LM test is used to determine whether models contain spatial lag or spatial error.

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Table 4 Expand

Table 5.

Hausman test results.

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Table 5 Expand

Table 6.

A spatial Durbin model compared to a spatial error and lag model.

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Table 6 Expand

Table 7.

Models 1 to 6: estimation results.

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Table 7 Expand

Table 8.

Models 7 to 12: estimation results.

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Table 8 Expand

Fig 2.

Positive correlation between tourist arrivals per capita & level of prices.

(Source: WDI).

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Fig 2 Expand

Table 9.

Tourism determinants’ marginal effects.

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Table 9 Expand