ON TESTS FOR LONG-TERM DEPENDENCE: INDIA’S INTERNATIONAL TOURISM MARKET

There has been growing interest in studying behaviour of long memory process in tourism market. In this research examine the behaviour of India’s international tourism market based on long-memory analysis. The international tourism market of India combined with nine countries. For example, tourists from USA, tourists from UK, tourists from Canada, tourists from Germany, tourists from France, tourists from Japan, tourists from Malaysia, tourists from Australia and tourists form Sri Lanka. Moreover, three statistical test for long-memory process such as R/S test, Modified R/S test and GPH-test are employed to test in these markets. The empirical findings in general provide more support for no long memory process or no long-term dependence in international tourism market of India.