Abstract
The paper detects for convergence trends in terms of per capita business tourism spending among the Eurozone countries. The paper employs the methodological approach of gaps’ convergence clubs, and covers the period 2001-2018. The findings point to clear trends of convergence, indicating that business tourism seems to alleviate spatial externalities in the Eurozone economic space. This calls for a set of well-targeted and carefully-designed policy interventions focusing on promoting – and reaping the benefits of – business tourism.
Highlights
The paper detects for convergence trends in terms of per capita business tourism spending among the Eurozone countries
Research Method Instead of employing the commonly-used methodological approaches of β- and σ-convergence (Barro, 1991; Barro and Sala-i-Martin, 1992, inter alia), the paper employs the methodological approach of gaps’ convergence clubs (Chatterji, 1992; Chatterji and Dewhurst, 1996), in order to detect for convergence trends, in terms of per capita business tourism spending, among the Eurozone countries
The results of the empirical analysis indicate the emergence of one convergence club
Summary
The paper detects for convergence trends in terms of per capita business tourism spending among the Eurozone countries. The paper contributes to the development of a broad and comprehensive understanding on the issue through identifying business tourism as convergence determinant. Such a contribution may provide insight to both theory and policy-making, in an era of severe competition and volatile market conditions. The paper employs the methodological approach of gaps’ convergence clubs (Chatterji, 1992; Chatterji and Dewhurst, 1996), and covers the period 2001-2018.
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