Does Tourism Affect Economic Growth? The Experience of Southeast Asian and Pacific Countries

Edgardo Sica ()

The Icfai Journal of Applied Economics, 2007, vol. VI, issue 3, pages 79-95

Abstract: Today tourism represents one of the most dynamic economic sectors of the world. Although majority of international tourism takes place within the developed world, recently tourism has increased significantly in the developing countries, mainly in the Southeast Asian and Pacific countries. This study aims to verify if tourism represents a determinant of growth in such countries. Following the recent empirical literature on growth, and mainly Eugenio-Martin et al. (2004), the paper adopts a dynamic panel data model to test for convergence. The results confirm the importance of tourism in economic growth.

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