THE ROLE OF RURAL TOURISM ON THE DEVELOPMENT OF RURAL AREAS: THE CASE OF CYPRUS
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Elias Giannakis: Energy, Environment and Water Center, The Cyprus Institute. Cyprus
Romanian Journal of Regional Science, 2014, vol. 8, issue 1, 38-53
Rural areas in the European Union are currently undergoing significant economic and social changes, mostly induced by the international trade liberalization and the strengthening of the role of rural development policy. There is an increasing awareness of the need to accompany changes in rural areas through the diversification of their economic base that seems to be the only answer to their socio-economic survival. Rural tourism has been considered a means of achieving such economic and social development due to its capacity to generate local employment and stimulate external investment into the communities. Within this context, the objective of this paper is to investigate the economic role of tourism on the development of rural areas in Cyprus. Tourism economic impact assessment is based on a constructed input-output table for rural Cyprus followed by a tourism-centered multiplier analysis. Model results suggest that tourism creates significant backward linkages in the rural economy of Cyprus and offers great potential for improving economic activity.
Keywords: rural tourism; rural development; rural areas typologies; input-output analysis; demand and supply driven multipliers (search for similar items in EconPapers)
JEL-codes: C67 D57 R58 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:rrs:journl:v:8:y:2014:i:1:p:38-53
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