Inbound Tourism and Economic Well-being: Evidence from Top Tourism-Receiving Countries

Syed Tehseen Jawaid (), Farhan Yaseen (), Syed Ammad Ali (), Aftab Hussain Tabasam () and Hira Abdul Rawoof ()
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Syed Tehseen Jawaid: University of Karachi
Farhan Yaseen: University of Karachi
Syed Ammad Ali: University of Karachi
Aftab Hussain Tabasam: University of Poonch Rawalakot
Hira Abdul Rawoof: Institute of Business Management (IoBM)

Journal of the Knowledge Economy, 2025, vol. 16, issue 4, No 40, 14957-14978

Abstract: Abstract This study explains the relationship between inbound tourism and economic well-being in top tourism-receiving countries by employing annual data from 1995 to 2019. Four models have been considered for the study: total sample, high-income, middle-income, and lower-income group countries. Based on Westerlund panel cointegration, generalised method of moments (GMM), and pooled mean group (PMG) methods, the empirical results confirm a long-run relationship between economic well-being and inbound tourism in all the models. The results show that in both the overall and higher, middle, and lower-income groups’ models, inbound tourism significantly impacts economic well-being in top tourism-receiving countries.

Keywords: Economic well-being; Inbound tourism; Globalisation; Barro Misery Index; Westerlund (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s13132-024-02352-7

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