Tourism and economic growth in Asia: A bootstrap multivariate panel Granger causality

Abstract

This work uses a multivariate panel Granger causality test to examine the causal relationship between real international tourism receipts and economic growth in 11 Asian regions for the period from 1995 to 2015, accounting for both dependency and heterogeneity across regions. The results of this study support evidence for the growth hypothesis in the regions, such as Cambodia, China, and Malaysia. A reverse relationship supports evidence on the conservation hypothesis for the regions, such as Hong Kong, Indonesia, the Philippines, and South Korea. A reciprocal causal relationship was found in Macau and Singapore.

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

“…Therefore, the relationship between tourism and economic growth represents an important issue for policymakers in creating an adequate tourism strategy in order to provide sustainable economic development. Many empirical studies have examined the relationship between tourism and economic growth (Belloumi, 2010;Tang and Tan, 2013;Dogru et al 2017;Wu and Wu, 2018;Mitra, 2019;Yazdi, 2019;Usmani et al 2020). Belloumi (2010) determined cointegration between tourism and economic growth in Tunisia for the period 1970-2007 as well as unidirectional causality from tourism to economic growth measured by gross domestic product in the observed period.…”

The dynamic links among energy consumption, tourism growth, and the ecological footprint: the role of environmental quality in 38 IEA countries

“…Renewable energy has become more important today because of its lean adverse effects on the environment compared to other energy resources (Razmi et al 2020 ), so they constitute an essential part of the transformation to a low-carbon economy (Przychodzen and Przychodzen 2020 ). Moreover, energy consumption (non-renewable and renewable) and international tourism flows can have positive impacts on foreign direct investment (FDI), research and development expenditures (R&D), trade, employment, life quality, and the growth and development of a country (Amri 2019 ; Aslam and Awan 2018 ; Belaïd and Zrelli 2019a ; Ben Jebli et al 2019 ; Chen et al 2019 ; Croes et al 2018 ; Fan and Hao 2020 ; Isik et al 2018 ; Kožić et al 2019 ; Sokhanvar 2019a ; Wu and Wu 2019 ; Yao et al 2019 ; Zafar et al 2019 ).…”

The Nexus Between Tourism, Environmental Degradation and Economic Growth

“…Fourth hypothesis indicates that no causal relationship between tourism and economic growth exists. The fourth hypothesis confirmed by Katircioglu (2009) for Turkey; Isik et al (2018) for France, Italy, and the US; Aslan (2014) for Malta and Egypt; Wu and Wu (2019) for Japan and Thailand.…”

“…First hypothesis called tourism-led growth hypothesis asserts that tourism contributes to economic growth positively. A unidirectional causal relationship running from tourism to economic growth was found by many studies of Gunduz and Hatemi-J (2005) for Turkey; for India; and Tang and Abosedra (2016) for Lebanon; Tang and Tan (2015) for Malaysia; Wu and Wu (2019) for Cambodia, China, and Malaysia. Qureshi et al (2017) confirm the TLG hypothesis for 37 tourism-induced countries.…”