This article estimates the impact of low-cost airlines on Spanish tourism during the first decade of the 21st century looking tourist traffic from the principal EU-15 member states using a dynamic panel data. The expansion in low-cost airline activity has had significant, positive direct and indirect effects on the Spanish economy. The study also looks at some of the key elasticities of demand that have influenced this.
Rey, B.; Myro, R.; Galera, A. Effect of low-cost airlines on tourism in Spain. A dynamic panel data model. "Journal of air transport management", Gener 2011, vol. 17, núm. 3, p. 163-167.