Analysing economic contribution of tourism: insights from selected Southeast Asian countries

Hieu Vu Minh and Yen Hua Thi Bach
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Hieu Vu Minh: Van Lang University, Faculty of Commerce and Business Administration, Vietnam
Yen Hua Thi Bach: Student at Ho Chi Minh Open University, Vietnam

Management, 2019, vol. 23, issue 2, 223-237

Abstract: Tourism is a potential sector that can contribute positively to economic growth if properly managed. The southeast Asian countries have identified tourism as a key sector that can enable them to achieve sustainable economic growth. This study analysed the economic contribution of tourism in five southeast Asian countries (Indonesia, Malaysia, Singapore, Thailand and Vietnam). The paper aims to evaluate economic contribution of tourism in South Asiancountries by using secondary data covering 2008-2017 collected from world travel and tourism council database to draw insights about the subject. Descriptive statistics in form of tables, charts, mean and standard deviation were used for comparative analyses. Overall score indicated that Thailand is the best performer with respect to the economic contribution of tourism among the sample southeast Asian countries during the period 2008-2017. The study proposed six recommendations to managers and policymakers in the tourism sectors in Southeast Asia.

Keywords: Gross domestic product; employment; visitor exports; investment; Southeast Asia (search for similar items in EconPapers)
JEL-codes: M10 Z30 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:manmen:v:23:y:2019:i:2:p:223-237:n:13

DOI: 10.2478/manment-2019-0028

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