The quest of tourism and overall well-being: the developing economy of Pakistan

Asif Khan, Sughra Bibi, Jiaying Lyu, Mohammad Alam, Muhammad Mussa Khan and Mohammad Nurunnabi

PSU Research Review, 2020, vol. 5, issue 2, 120-140

Abstract: Purpose - This study aims to examine the causal relationship between tourism and overall well-being. The main objective of this research is to inform the policymakers that tourism can play a vital role in shaping the overall well-being in the developing economies. Design/methodology/approach - This investigation used several time series techniques and procedures that include bounds test and autoregressive distributed lag mechanism to analyze the relationship between tourism and overall well-being in Pakistan by using time series data for the period 1980-2016. Findings - The findings suggest a significant positive relationship between tourism and overall well-being both in the short and long run. The authors find that tourism and overall well-being affect each other positively. Practical implications - This research indicates that policymakers and government can improve the overall well-being through tourism development. However, tourism policies and long-term planning should be focused on sustainable developments for achieving long-term goals. Besides, special incentives should be provided to the private sector for tourism development. Originality/value - To the best of the authors’ knowledge, this is the first investigation that examines the causal relationships between tourism and overall well-being through objective indicators in a developing economy. This study fills the immense literature gap and provides new directions to scholars to investigate the mentioned relationship through objective indicators.

Keywords: Tourism; Overall well-being; ARDL; Developing economy (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eme:prrpps:prr-07-2019-0022

DOI: 10.1108/PRR-07-2019-0022

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