Writing for the project

As an intern, you will be reporting to Lukas, the Director of Economics and Business Analytics and assist him in carrying out consultancy projects for clients all over the world. This summer, however, Lukas was trampled by a running bull while holidaying in Spain and his leg is in a cast. He cannot travel so you now must take the lead in the following projects:
One thousand words for the project!
PROJECT ONE: MADRID. Your first client is the European Commission’s General Tourism Directorate. Once you arrive to their regional offices in Madrid, you meet Amaia, the Deputy Commissioner, and she explains the project: “One of the major economic activities in the European Union is tourism, at least it was before the covid crisis, and we expect it to continue after we return to normal, hopefully in 2022. Still, it is unclear for how long travel restrictions (mandatory testing, quarantines, etc…) will remain in place since each European country has radically different trends and policies. We are particularly concerned with the post-Brexit UK as one of the main origin markets for holiday travel into the EU and we are constantly negotiating with them. In order to aid those discussions, our office wants a robust quantification of the impact these covid-related travel restrictions are actually having on monthly UK visitor numbers. This is where you come in. The last time I met with your manager he talked about carrying out an econometric study to estimate those impacts. The only requirement he had is that we should provide some critical data needed to do the regression. I have been looking into our files and the best that I can provide is a dataset with the monthly number of airline arrivals from the United Kingdom to all airports in the world between January 2016 and July 2021 (available as the attachment). It is up to you to decide how many destination cities or countries to include in your analysis, but you should endeavour to have diversity in travel restrictions (have a look at the UK travel lists). Also, you will need to complete the dataset with other variables from publicly available sources.”
You write to Lukas back in the city to update him on your client meeting but the only thing you get is a response from his secretary with a reading he left for you (see below). Perhaps this paper will give you some clues on how to continue this project. Amaia wants a short report (approx. 1,000 words) with three sections:
a) selection of sample of cities/destinations, explanatory variables and data sources (with justification and references to other publications and/or relevant theoretical concepts),
b) model specification and discussion of your econometric results (focus on the estimated coefficients),
c) brief mention of the limitations of your approach and possible ways to improve your model.
Remember to append your econometric estimation as well as the datasets as tables within the document.
Essential Reading: Peng, B., Song, H., Crouch, G., and Witt, S.F., 2015. A Meta analysis of International Tourism Demand Elasticities. Journal of Travel Research 54 (5), pp. 611–633. Available at
https://journals.sagepub.com/doi/full/10.1177/0047287514528283
which is the attachment here.
Hints: data collection takes time. The national statistics pages of each country could be an excellent data source. For example, the Spanish National Statistics Institute is called INE and it has an English page
https://ine.es/en/index.htm
Eurostat can also be a helpful source of information. It will not be marked on the statistical significance of the econometric results.