This paper provides empirical evidence on the main determinants of the Spanish economy's tourism revenue, through the estimation of an econome-tric function of this external demand item with annual data for the period 1964-1995. An error correction model is used for the estimation based on the existence of a stable long-term relationship linking the dependent variable, an income variable and a relative price variable. The relevance of certain other variables in the short run, such as infrastructure spending and the cost of travelling, is also analysed. Lastly, a structural analysis is made of changes in this external demand item, focusing on the contribution of competitiveness via pnces.

Keywords: tourism revenue, structural analysis, competitiveness.