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Tourism and Economic Growth Nexus in Latin America and Caribbean Countries: Evidence from an Autoregressive Distributed Lag Panel

Academica Turistica - Tourism and Innovation Journal

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Title Tourism and Economic Growth Nexus in Latin America and Caribbean Countries: Evidence from an Autoregressive Distributed Lag Panel
 
Creator Fuinhas, José Alberto
Belucio, Matheus
Castilho, Daniela
Mateus, Joana
Caetano, Rafaela
 
Description This research focuses on tourism as a way to stimulate economic growth in Latin America and the Caribbean countries. The impact of tourism on economic growth was expected to have both short- and long-run effects. Panel autoregressive distributed lag, an econometric technique that allows for this temporal decomposition, was used. The results for the twenty-two countries revealed that, in the short-run, tourist capital investment per capita, tourist arrivals (number of persons), per capita electricity consumption, and the real exchange rate were statistically significant and had a positive impact on economic growth. In contrast, in the long-run, only tourist arrivals and per capita electricity consumption proved to be positive drivers of per capita economic growth. Policymakers should continue to develop and implement measures to attract as many tourists as possible while promoting investment in the tourism industry. However, they also need to pay attention to other economic sectors so that their countries do not become extremely dependent on tourism activity.Keywords: capital investment, tourism arrivals, economic growth, Latin America and Caribbean, ardl
 
Publisher Academica Turistica - Tourism and Innovation Journal
 
Contributor Portuguese Foundation for Science and Technology
 
Date 2020-07-10
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://academica.turistica.si/index.php/AT-TIJ/article/view/173
 
Source Academica Turistica - Tourism and Innovation Journal; Vol 13, No 1 (2020)
2335-4194
1855-3303
 
Language eng
 
Relation http://academica.turistica.si/index.php/AT-TIJ/article/view/173/78
http://academica.turistica.si/index.php/AT-TIJ/article/downloadSuppFile/173/111
http://academica.turistica.si/index.php/AT-TIJ/article/downloadSuppFile/173/114
 
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