Tourism and local growth in Italy
Emanuele Ciani (),
Raffaello Bronzini () and
Francesco Montaruli ()
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Emanuele Ciani: Bank of Italy
Francesco Montaruli: Bank of Italy
No 509, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area
Economic theory and the empirical literature are not conclusive on the relationship between tourism and economic growth. In this paper we estimate the impact of foreign tourists’ spending on value added per capita growth in the Italian provinces, using various econometric strategies. The overall results show that the effect is positive and statistically significant, but modest in economic terms. The impact is larger for the less developed provinces, and null for those that showed the highest tourist revenues per inhabitant at the beginning of the period, suggesting that congestion phenomena may occur.
Keywords: tourism; economic growth; tourism expenditure; beach disease; dynamic panel data; instrumental variables (search for similar items in EconPapers)
JEL-codes: R00 R10 R11 L83 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-geo, nep-tur and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_509_19
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