An overestimated relationship? Violent political unrest and tourism foreign direct investment in the Middle East

Steiner, Christian

doi:10.1002/jtr.788

Cited by 32 publications

(22 citation statements)

References 32 publications

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“…Jarvis and Kallas (2008) also believe that being part of the EU is also a FDI attractive factor. Steiner (2010) concludes that FDI in tourism is influenced by Regulatory Framework, performance and liquidity of a national economy. On the other hand, bureaucracy, tax burdens, exchange rates and inflation rates may deter FDI (Go et al, 1990;Te Velde & Nair, 2006;Zhao & Olsen, 1997).…”

Section: Literature Reviewmentioning

confidence: 98%

The causality relationships between tourism development and foreign direct investment: an empirical study in EU countries

Yazdi

Nateghian

Rezaie

2017

Journal of Policy Research in Tourism, Leisure and Events

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The main focus of this paper is the impact of foreign direct investment (FDI), official exchange rate and trade on international tourism using panel data of 27 countries over 1995-2014. The result based on the pooled mean group estimator of dynamic panels shows that there is no causality relationship between FDI and tourist receipts and a bidirectional causality relationship between real exchange rate, trade openness and tourist receipts and explains that FDI plays a significant role in expanding the tourism sector in EU countries. The appropriate policies to explore tourism resources and plans which develop new tourist venues and facilities may need to be considered in order to meet the increasing tourism receipts. RESUMENEl principal objetivo de este trabajo es el impacto de la inversión extranjera directa, el tipo de cambio oficial y el comercio en el turismo internacional utilizando datos de panel de 27 países en el periodo 1995-2004. El resultado basado en el estimador Promedio de Grupos Agrupado (pooled mean group-PMG) para datos de panel dinámico muestra que no hay relación de causalidad entre la inversión extranjera directa (FDI) y la recepción de turistas y sí una relación de causalidad bidireccional entre el tipo de cambio real, la apertura comercial y la recepción de turistas que explica que la inversión extranjera directa juega un papel significativo en el desarrollo del sector turístico en los países de la UE. Las políticas apropiadas para explorar los recursos turísticos y los planes que desarrollarán nuevos emplazamientos turísticos e instalaciones pueden necesitar ser consideradas con el fin de responder a crecientes niveles de recepción de turistas. RÉSUMÉ

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Section: Literature Reviewmentioning

confidence: 98%

The causality relationships between tourism development and foreign direct investment: an empirical study in EU countries

Yazdi

Nateghian

Rezaie

2017

Journal of Policy Research in Tourism, Leisure and Events

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“…Recently, using a sample of 61 emerging markets including MENA countries, Onyeiwu (2008) found openness of the economy, GDP per capita and political risks to be crucial in determining FDI flows into the MENA countries. Steiner (2010) investigated the relationship between FDI flows and political stability in MENA countries, especially Egypt, but was unable to find a definite relationship between FDI and political instability. Smimou (2007) discusses the role of corruption in reducing FDI in the MENA countries.…”

Section: Literature Reviewmentioning

confidence: 99%

Determinants of foreign direct and indirect investment in the MENA region

Al‐Khouri

2015

The Multinational Business Review

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Purpose -This study aims to examine the factors affecting the foreign direct investment (FDI) and foreign portfolio investment (FPI) flows among the 16 economies comprising the Middle East and North African (MENA) region. Design/methodology/approach -Panel data for the period 1984-2012 are used, and the generalized method of moment (GMM) technique is implemented. Findings -The results support the agglomeration effect, which indicates that countries which have already had FDI attract more FDI in the future. Economic risk affects FDI significantly and negatively, whereas trade openness has a significant and positive impact on FDI. Of the political risk factors considered, three of them, namely, law and order, ethnic tension and internal conflict, significantly affect FDI. The results on FPI show that the lag in FPI and the degree of openness play a significant role in attracting FPI into the MENA region. In addition, stock market capitalization, as well as the return on investment affects the FPI flow positively. The study also reveals a negative government structure impact on FPI, whereas, surprisingly, religious tension in the MENA region affects FPI positively. Originality/value -This research examines, simultaneously, the factors that determine not only FDI but also FPI flow. It uses a powerful econometric technique which avoids common estimation problems such as endogeneity, heteroskedasticity and autocorrelation. Policymakers in the MENA region recognized the need for outside capital as a major catalyst of development, economic growth and modernization. Therefore, it is essential to know the factors that would lead to a surge in capital flow to these countries.

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“…Daher, 2006, Hazbun, 2008, Steiner, 2010, Avraham, 2013). Yet recent forecasts of tourism to 2030 (UNWTO, 2011) highlight a significant change in the volume, value and impact of tourism for what have been low volume destinations.…”

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confidence: 99%

Planning for a Qatar Without Oil: Tourism and Economic Diversification, a Battle of Perceptions

Morakabati

Beavis

Fletcher

2014

Tourism Planning & Development

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Qatar has developed a long-term strategy to plan for a time when the country will not be dependent upon its oil and gas reserves. The strategy focuses on export diversification, largely through the development of service industries, including finance, knowledge-based sectors and tourism. This may be seen as a sensible option given the availability of capital and the paucity of non-energy resources. To date the success in attracting leisure tourists has been limited. The country faces a number of challenges with its economic diversification strategy through tourism, including the task of creating a strong destination image and assuring personal safety, civil liberty and political stability in a region not noted for these characteristics. It also needs to offer a product that is sensitive to the religious and cultural traditions of the host population whilst appealing to international tourists. This paper looks at diversification as a development strategy, the rationale for Qatar's diversification strategy, the risk perceptions and appeal of Qatar as a holiday destination and then empirically tests whether Qatar fits into a typology of evoked, inert or inept sets of destinations. The results show that there is strong support for the link between export diversification and economic growth but while seen as a relatively safe destination, Qatar currently lacks appeal and does not fall into the evoked set of destinations for UK visitors.

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An overestimated relationship? Violent political unrest and tourism foreign direct investment in the Middle East

Cited by 32 publications

References 32 publications

The causality relationships between tourism development and foreign direct investment: an empirical study in EU countries

The causality relationships between tourism development and foreign direct investment: an empirical study in EU countries

Determinants of foreign direct and indirect investment in the MENA region

Planning for a Qatar Without Oil: Tourism and Economic Diversification, a Battle of Perceptions

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