This paper empirically investigates a causal relationship between tourism and economic
growth in Georgia for 1997-2018 period by employing ARDLBT
approach to cointegration. Results reject economic-driven tourism growth
hypothesis for Georgia and reveal that impact of tourism development over
economic growth is negative in the long-run, in contrary positive in the short-run.
Obtained results suggest that there is a possibility to have a tourism resource
curse in the long-term in Georgia. Georgian government should build a tourism
strategy to avoid crowding out of human capital from industrial production and decrease
the share of imports for the needs of tourism sector
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