The Impact of Tourism on Economic Growth in the Western Balkan Countries: An Empirical Analysis

Selimi, Nasir; Sadiku, Sc. Luljeta; Sadiku, Murat

doi:10.25103/ijbesar.102.02

Cited by 40 publications

(41 citation statements)

References 7 publications

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“…A number of published studies claim that the development of tourism presents a number of advantages, especially in relation to the economic development of the states, as well as the increase of the quality of life. In a published study, Selimi et al calculate the impact of tourism on economic growth in Western Balkan countries as being positive, respectively, for every 1% increase of tourist arrivals, the output will increase approximately by 0.08% [17].…”

Section: Literature Reviewmentioning

confidence: 99%

“…From the analysis of research published so far, a clear conclusion cannot be distinguished, given that results are sometimes contradictory. Some papers present results that support the positive influence of tourism on improving the quality of life and sustainable performance [17][18][19][20], other authors identify the development of tourism as a factor with negative effects on the overall index of quality of life and the growth of sustainable performance [21][22][23][24], while a third group of studies shows mixed results [25][26][27].…”

Section: Introductionmentioning

confidence: 97%

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The Relationship between Development of Tourism, Quality of Life and Sustainable Performance in EU Countries

et al. 2020

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Relationships between tourism development, quality of life and sustainable performance are very important topics and benchmarks in long-term policies and strategies at global, regional and local levels. Starting from the concerns expressed by researchers and international organizations, as well as the characteristics of the European region, our research aims to identify these relationships in the context of increasing pressure from stakeholders on the adoption of decisive measures in order to limit the negative effects manifested globally in the context of climate change. Using cluster analysis, we managed to identify relevant groups of countries, based on the selected variables. The results of the study highlight the existence of a positive relationship between the development of tourism and the increase of the quality of life, as between the level of sustainable performance and tourism intensity, opening the possibility of future research on the causal relationships between the selected variables and the promotion of coherent public policies that support the sustainable development.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 97%

The Relationship between Development of Tourism, Quality of Life and Sustainable Performance in EU Countries

et al. 2020

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“…Similarly, tourism development stimulates economic growth in China and Turkey, whereas the reverse relationship is identified in Spain for the observed period. Selimi et al (2017) analyzed the effects of tourism on economic growth in Western Balkan countries for the period 1998-2014. Their findings showed the significant and positive impact of tourism on economic growth in analyzed countries where a 1% increase of tourist arrivals enhances economic growth by 0.08%.…”

Section: Literature Reviewmentioning

confidence: 99%

An Empirical Analysis of Relationship Between Tourism and Economic Growth: Panel Evidence From Western Balkan Countries

Mirović¹,

Kalaš²,

Pavlović³

2020

International Thematic Monograph: Modern Management Tools and Economy of Tourism Sector in Present Era

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Tourism is one of the most important sectors in the world and it has multiplier effects due to indirect implications to a wide variety of small, service-oriented businesses. This paper aims to determine the effects of the tourism sector on economic growth in terms of tourism share, international tourism receipts and international tourism arrivals. The subject of the chapter is estimating the effects of the tourism sector on economic growth in selected Western Balkan countries such as Albania, Bosnia and Herzegovina, Montenegro, North Macedonia and Serbia for the period 2007-2018. Results of the fixed effects model show tourism sector has significant and positive impact on economic growth in these countries for the observed period. Empirical findings manifest that governments in Western Balkan countries should focus on a higher share of the tourism sector in their economy in order to provide positive implications to economic development.

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“…Furthermore, they also indicate that there is bidirectional causality exists between economic growth and tourism. Similarly, in the case of panel data analysis, (Selimi et al, 2017) empirically investigate the impact of tourism on economic growth for six Balkan countries Albania, Bosnia and Herzegovina, Croatia, FYROM, Montenegro and Serbia covering the period 1998 to 2014. By using fixed effect and random effect models, they reveal that there is a positive and significant relationship that exists between tourism and economic growth.…”

Section: Literature Reviewmentioning

confidence: 99%

Impact of COVID-19 Pandemic on Thailand Economy and Tourist Industry: An Empirical Forecasting Using ARIMA

Janjua

Muhammad

Sukjai

et al. 2021

BJO&PM

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Goal:The tourism sector always plays a vital role among other sectors, which contributes heavily to Thailand's GDP. Due to the recent Pandemic crises, the tourism industry worldwide faces a decline. The aim of writing this paper is to forecast, tourist inflow for Thailand for the next nine months by using ARIMA forecasting Design / Methodology / Approach: In order to meet the study objective, we adopted the univariate time series forecasting of tourist arrival. The AR(12) and MA(12) process with d(1) order to specify the appropriate model also applied for forecasting selection of international tourist arrivals, after diagnostic checking of series through correlogram Q-statistics and correlogram of residuals for adjusted ARIMA (12,1,12) in which we found low residual against 70 lags. Results:The evidence predicts that in the next nine months, Thailand will face significant negative zone arrival of international tourists due to the COVID-19 pandemic crises, which adversely affect Thailand's economy due to the shortfall of international tourist arrivals. However decline in tourist arrival will eventually decrease air pollution in Thailand, thus it positively impact on environmental quality. Limitations of the investigation:In terms of limitation of this study, this forecasting is only valid for Thailand based on historical and current data. Practical implications:We highly recommend government of Thailand for enchasing overall logistics performance and furthermore increase use to renewable energy and green performance in their tourism sector.Originality / Value: This study provides tourism forecasting estimation for Thailand, which can help government to reshape their tourism policies due to Covid-19 pandemic crises. As this study is the first attempt to provide forecasting related with Covid-19 for tourism sector.

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The Impact of Tourism on Economic Growth in the Western Balkan Countries: An Empirical Analysis

Cited by 40 publications

References 7 publications

The Relationship between Development of Tourism, Quality of Life and Sustainable Performance in EU Countries

The Relationship between Development of Tourism, Quality of Life and Sustainable Performance in EU Countries

An Empirical Analysis of Relationship Between Tourism and Economic Growth: Panel Evidence From Western Balkan Countries

Impact of COVID-19 Pandemic on Thailand Economy and Tourist Industry: An Empirical Forecasting Using ARIMA

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