![]() ![]() Tinbergen (1962) and Pöyhönen (1963) were the first authors to apply the gravity theory to international trade flows. According to the gravity theory, the response variable, which is a flow of assets, goods or humans, depends on some factors related to the origin and destination countries, and other factors that approximate the corresponding distance. We estimate an original gravity equation, which includes classic and experimental independent variables. The main objective of this work is to identify the most important demand and supply factors of international tourism flows to Southern European (SE) Countries, given the relevant role of tourism on the respective economies. ![]() It also encourages a cultural exchange among the home and host populations, and contributes to the conservation of local traditions and historic and archaeological sites. The travel and tourism sector helps in new job opportunities for the local communities in numerous different areas. This industry contributes directly and indirectly to the mitigation of poverty in the host countries, the enhancement of infrastructure, and the stimulation of trade flows and economic growth. A steady progress of tourism brings many benefits for both the tourist origin and destination countries. ![]()
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