The Impact of Exchange Rate Fluctuations on International Tourist Inflows to Uzbekistan: A Quantitative Analysis
Keywords:
Exchange rate, tourism demand, Uzbekistan, macroeconomic factors, air connectivity, policy implicationsAbstract
Utilizing a quantitative econometric approach, this study explores the effects of exchange rate volatility on international tourism receipts in Uzbekistan. The results reveal a positive relationship between tourists' arrivals and depreciation of the Uzbekistani som, especially against the euro, but macroeconomic variables, such as GDP per capita and the inflation rate, show no importance. Air connectivity is also very important in facilitating travel demand. The study underlines the importance of monitoring the exchange rate, enhancing transport networks, and reverse coordination of transport policies in tourism as some of the essential steps to improve the competitiveness of Uzbekistan as a tourism destination.
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