The Tourism-Led Economic Growth Hypothesis in the Euro Area: Do Asymmetries and Structural Breaks Matter?

Dimitrios Bakas, Ioanna Konstantakopoulou and Athanasios Triantafyllou ()
Additional contact information
Dimitrios Bakas: Nottingham Trent University
Ioanna Konstantakopoulou: Centre for Planning and Economic Research
Athanasios Triantafyllou: Audencia Business School

Post-Print from HAL

Abstract: This paper examines the validity of the tourism‐led economic growth hypothesis for the Euro Area economies. We employ both linear and nonlinear Autoregressive Distributed Lag (ARDL) cointegration approaches to examine the symmetric and asymmetric effects of tourism on economic growth. Furthermore, we control for the presence of structural breaks in the time series, which account for the recent financial and debt crises in the Euro Area. The results support the positive impact of tourism on economic growth for most of the Euro Area economies and are robust to alternative tourism measures. The findings indicate that an asymmetric impact exists both in the long and the short run. Positive and negative shocks in tourism and the real exchange rate result in significantly different effects, both in terms of sign and magnitude, on economic growth.

Keywords: Structural Breaks; Nonlinear ARDL; ARDL; Euro Area; Tourism-Led Growth Hypothesis (search for similar items in EconPapers)
Date: 2026-03
New Economics Papers: this item is included in nep-eec and nep-tur
Note: View the original document on HAL open archive server: https://hal.science/hal-05578402v1
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in International Journal of Tourism Research, 2026, 28 (2), pp.70304. ⟨10.1002/jtr.70304⟩

Downloads: (external link)
https://hal.science/hal-05578402v1/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05578402

DOI: 10.1002/jtr.70304

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().