The Relationship Between Tourism and Economic Growth in The Scope of Economic Freedom and Freedom of Investment

Abstract

Tourism is one of the sectors to which countries have recently given importance as a means of ensuring economic growth, and the relationship between the two has been the subject of many study in economic literature within the framework of four hypotheses; being tourism-oriented growth, feedback, protection, and neutrality. In the present study, the relationship between tourism and economic growth is investigated for Mediterranean countries in the 2006–2019 period. A Dumitrescu-Hurlin Panel Causality Analysis was carried out in the study in which economic growth, tourism revenues, economic freedom, and investment freedom data were used as variables. The analysis was carried out both across the panel and on the basis of countries. Panel analysis results showed that tourism revenues are the cause of economic growth, which confirms the tourism-oriented growth hypothesis. That said, the causality relationship between economic growth, tourism revenues, and economic freedom cannot be determined based on the panel-wide results, as the results differ from country to country. Finally, a two-way causality between economic growth and freedom of investment, and a one-way causality from tourism revenues to freedom of investment has been identified.

Profile of socially responsible marine tourism companies in island destinations

“…In the last fty years, no economic activity has grown and transformed more than tourism (Mete, 2022;UNWTO, 2022;Wang et al, 2022). In the case of island ecosystems, de nitely ecologically constrained and more sensitive to changes, a growing economic dependence on tourism activity has been observed since the 1980s (Bangwayo-Skeete & Skeete, 2021;Peterson, 2020), with a wide variety of socioeconomic, sociocultural and environmental effects that in many cases are almost inherent to the tourism system and its development.…”

Ekonomi̇k Özgürlük Ve Turi̇zm İli̇şki̇si̇: Seçi̇lmi̇ş Ülkeler Üzeri̇ne Ampi̇ri̇k Bi̇r Anali̇z

“…Çoban (2021), tarafından yapılan çalışmada 18 Latin Amerika ülkesinde 2007-2019 dönemi için sonuçlar ekonomik özgürlüklerdeki artışın turizm rekabetçiliğini arttırdığı yönündedir. Mete (2022), çalışmasında 2006-2019 dönemi Akdeniz ülkelerinde turizm gelirlerinden ekonomik büyümeye doğru nedensellik ilişkisi olduğu sonucuna ulaşılmıştır. Sınırlı sayıda turizm ve ekonomik özgürlük arasındaki ilişkiyi ele alan çalışmalarda elde edilen sonuçlara göre ekonomik özgürlükteki artışın turist sayısı ve turizm gelirini olumlu yönde etkilediği vurgulanmıştır (Gholipour vd.…”

“…(2017); Gövdeli (2018); Muslıja vd. (2019); Akar ve Özcan (2020); Mete (2022). Değişkenler arasında ilişkinin bulunup bulunmaması, örneklem grubu, incelenen dönem ve tercih edilen yöntemlere göre farklılık göstermektedir.…”