The aim of this paper is to consider relationships between international tourist receipts and economic growth of countries as tourism destination. In the period of 1987 to 1996, we can point out close relationships between the growth of tourist receipts and the growth of GDP in many countries.
Tourist receipts and GDP are formed through credit of services & income in balance of payments. Therefore, in this paper we focus on these three elements. Moreover, we attempt to estimate tourist receipts in another point of view. In preceding literatures of estimating models for tourism, mainly the aspects of demand were emphasized, and many of them belong to the type of time series.
In this paper, we estimate tourist receipts from the aspects of supply side by using data of economical characteristics in tourist destinations. We attempt to construct a model by analogy with a gravity type of model as the base. The estimation work clarifies that the exchange rate strongly prescribes a factor to diminish tourist receipts, and aviation service is extracted as an increasing element.