DETERMINANTS OF TOURISM DEVELOPMENT: EMPIRICAL EVIDENCE FROM THREE DEVELOPING COUNTRIES

S Nyasha () and N.M. Odhiambo ()
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S Nyasha: University of South Africa
N.M. Odhiambo: University of South Africa

Working Papers from African Economic and Social Research Institute (AESRI)

Abstract: In this study, the key determinants of tourism development in three study countries – South Africa, Brazil and Vietnam – have been examined for the period from 1995 to 2018. Despite the growing empirical literature on the determinants of tourism development from a number of countries, these countries have remained understudied. The study uses two proxies, namely: tourism revenue (TR) and the number of international tourist arrivals (TA), to measure the level of tourism development. Using the ARDL bounds-testing approach, the findings of the study have shown that the determinants of tourism development differ from country to country and over time. In addition, the study shows that the determinants depend on the proxy used to measure the level of tourism development. Overall, the study found that the positive drivers of tourism in these countries are tourist disposable income, financial development, trade openness and political stability, while the negative drivers include exchange rate, price level and carbon emissions.

Pages: 33 pages
Date: 2021-11, Revised 2021-12
New Economics Papers: this item is included in nep-sea and nep-tur
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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https://aeri.co.za/RePEc/afa/afa-wpaper/AESRIWP24.pdf Revised version, 2021 (application/pdf)

Related works:
Working Paper: Determinants of Tourism Development: Empirical Evidence from Three Developing Countries (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:afa:wpaper:aesri-2021-24

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