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Title: The Economic Effects of a Negative Shock on Tourism Demand in Singapore: A CGE Modeling Approach
Contributor(s): Meng, Xianming  (author)orcid ; Siriwardana, Mahinda  (author); Dollery, Brian E  (author); Mounter, Stuart  (author)orcid 
Publication Date: 2010
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Abstract: Negative mega events such as the 911 terrorist attacks and the world economic crisis in 2008 have tremendous negative effects on the tourism sector in particular and on the economy in general. This study employs recent Singaporean tourism survey data, the updated Singaporean input-output table, and the Computable General Equilibrium (CGE) model to gauge the effects of a decrease in tourism demand on the Singaporean economy. The CGE simulation results demonstrate that a decrease in tourism demand tends to have negative effects on Singapore's economy. At the macro level, although almost all variables are negatively affected, exports benefits greatly. At the industry level, a negative tourism shock impacts severely on the tourism-related sectors, only slightly on sectors weakly linked to tourism, but the tourism-competing sectors expand. The results also suggest that low skilled workers are harshly affected, but some occupational groups benefit at the expense of others.
Publication Type: Conference Publication
Conference Details: 2010 International Conference on Business, Economics and Tourism Management (CBETM 2010), Singapore, 26th - 28th February, 2010
Source of Publication: Proceedings of the 2010 International Conference on Business, Economics and Tourism Management (CBETM 2010), p. 165-170
Publisher: World Academic Press
Place of Publication: United Kingdom
Field of Research (FOR): 140216 Tourism Economics
140210 International Economics and International Finance
140299 Applied Economics not elsewhere classified
Socio-Economic Objective (SEO): 910299 Microeconomics not elsewhere classified
910207 Microeconomic Effects of Taxation
Peer Reviewed: Yes
HERDC Category Description: E1 Refereed Scholarly Conference Publication
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Appears in Collections:Conference Publication
UNE Business School

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