unemployment rate, we use data for Australia, a country whose prosperity has always depended on the value of its exports. We find …

Prior to the recent Asian currency and economic crises, tourism from Asia had rapidly become Australia's major tourism … export industry. Tourists from Singapore, which is Australia's fifth major market, represented 6% of international tourist … arrivals to Australia in 1996. The average annual growth rate of tourist arrivals from Singapore of around 20% over 1990-96 far …