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The purpose of this paper is to empirically evaluate the tourism performance of STP with respect to the main determinants that have been found in the literature. Tourism is clearly a comparative advantage of STP and already an important economic activity, however, STP is far from the characterization of a tourism-dependent small economy. Tourism represents 10.8 percent of GDP and the ratio between international inbound tourists and population is at 14.5 percent. For a summary of how STP relates to other destinations. This puts STP as the twelfth country in terms of size of direct contribution of the tourism sector to GDP and the eighteenth in terms of the ratio between tourists and population. Using data from different sources, this note analyzes STP's tourism-related characteristics and uses different empirical tools to evaluate them vis-a-vis its peers. Economic literature shows that tourism demand is affected by price and income but also by a host of other factors such as air connectivity, language, and culture among others. First, there is an extensive research agenda on measuring price and income elasticities of tourism, which is specific for different types of tourism destination. Second, there is a myriad of characteristics that are found to be important to the tourism industry, such as remoteness, language, culture, air connectivity, bilateral trade, et cetera More recently, there has been many studies emphasizing the role of digital media and digital presence1 as a key determinant of tourist decisions.

Elasticity (Economics)

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Elasticity (Economics) --- Exports --- Imports

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Analyzes the price elasticity of the supply of rental housing services, defined as the percentage increase in supply associated with a one percent increase in price. The purpose of the report is to predict the price changes associated with supply responses to shifts in demand. Section II analyzes each component of supply response separately. It presents price elasticities for the repair, inventory, and occupancy responses to demand shifts. It reviews the literature on all three and offers new estimates for the second and third (the estimates are based on the analysis of Annual Housing Survey data from the U.S. Census Bureau reported in Appendix B). Section III combines the three individual supply elasticities into a composite elasticity. It accomplishes the integration using a model of housing-market responses to demand shifts presented in Appendix C. The model was built during the Housing Assistance Supply Experiment to explain the housing market's response to demand shifts caused by an experimental housing allowance program.

Housing --- Elasticity (Economics) --- Prices

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Elasticity (Economics) --- Imports --- Econometric models.

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Energy consumption --- Petroleum products --- Elasticity (Economics)