Fresh insights into tourism-led economic growth nexus: a systematic literature network analysis approach

Eluwole, Kayode Kolawole; Bekun, Festus Victor; Lasisi, Taiwo Temitope

doi:10.1080/10941665.2022.2075775

Cited by 17 publications

(7 citation statements)

References 183 publications

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“…Understanding the growth effects of tourism (TLGH) is one of the most popular research dimensions in tourism economics (Brida et al, 2016; Comerio and Strozzi, 2019; Fonseca and Sanchez-Rivera, 2020a, 2020b, 2020c; Nunkoo et al, 2020). With a systematic review and bibliometric analysis, Eluwole et al (2022) find that over 200 Web of Science and Scopus-indexed empirical studies have confirmed a positive causal association between tourism and economic growth. Song and Wu (2022) however raise concerns over the a-theoretical nature of the TLGH.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Song and Wu (2022) however raise concerns over the a-theoretical nature of the TLGH. The TLGH is described by a unidirectional causality from tourism to growth, where changes in tourism precede changes in growth (Eluwole et al, 2022). Song and Wu (2022) argue that current research on the TLGH only measures the effect of tourism on real GDP and that this does not automatically imply that tourism drives economic growth.…”

Section: Literature Reviewmentioning

confidence: 99%

“…The final point of contention is the direction of causality between tourism and economic growth. Unidirectional causality from tourism to growth is labeled as the TLGH (Eluwole et al, 2022). The economy-led tourism hypothesis (ELTH) posits a unidirectional causality from economic growth to tourism (Eluwole et al, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Unidirectional causality from tourism to growth is labeled as the TLGH (Eluwole et al, 2022). The economy-led tourism hypothesis (ELTH) posits a unidirectional causality from economic growth to tourism (Eluwole et al, 2022). Bi-directional causality between tourism and growth is found if both the TLGH and ELTH are confirmed.…”

Section: Literature Reviewmentioning

confidence: 99%

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Modelling the asymmetric productivity effects of tourism demand

Kumar¹

2023

Tourism Economics

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A recent critique of the tourism-growth literature raises concerns about whether tourism leads to permanent economic growth. We argue that tourism can be linked to total factor productivity. Tourism demand spurs efficiency gains in the tourism sector through learning by doing. However, because tourism is demand-led, asymmetric effects may arise in the tourism-productivity association. To model the permanent growth effects of tourism, we use panel asymmetric ARDL models with annual data from 94 countries over the period 1995–2018. The finding implies that tourism has permanent but asymmetric growth effects.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

See 2 more Smart Citations

Modelling the asymmetric productivity effects of tourism demand

Kumar¹

2023

Tourism Economics

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“…The nexus between tourism and economic growth is dynamic and different approaches in terms of the methodology used and data type have been used (Eluwole et al, 2022). Some studies have used panel data methodology to carry out a comparative study, while others have exploited time series modeling to investigate the nexus between the variables for individual countries.…”

Section: Literature Reviewmentioning

confidence: 99%

Diversification in the tourism sector and economic growth in Australia: a disaggregated analysis

Solarin

Lasisi

Hossain

et al. 2023

Journal of Tourism Research

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In most countries inclusive of Australia, tourism policies do not only deal with how to diversify tourism markets but also how to diversify tourism activities. Efforts are often made to increase the inflows of tourists from different source markets and to improve arrivals for various tourism activities. However, the existing literature on the economic impact of the diversification of the sector has not dealt with the economic impact of diversification of tourism markets. This study aims to examine the economic impact of diversification of both tourism markets and tourism activities. Using a newly developed tourism diversification index, the focus of the study is on Australia for the period, 1976–2020. Utilizing a dynamic autoregressive lag simulation approach, the results suggest that diversification of tourism markets and activities generated positive economic growth in Australia in line with the notion of tourism‐led growth hypothesis. Empirical results outline that a 1% increase in diversification of tourism markets and activities generated increases in the gross domestic product by 0.010% and 0.070%, respectively. One of the implications of the results is that policies to diversify tourism markets and activities will be beneficial to the economy in Australia.

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How important is tourism for growth?

Panagiotidis,

Mussoni,

Voucharas

2023

Int. J Fin Econ

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We revisit the tourism‐led growth hypothesis by utilising a panel set of 108 countries over the period 1996–2017. We quantify the effects of tourism on the entire conditional distribution of economic growth for both relatively poor and relatively rich countries within a panel quantile regression framework. We address the unobserved heterogeneity and potential endogeneity concerns. We reveal that the lower the conditional growth rate a country experiences the more important is tourism development for the conditional growth distribution for both developing and developed countries. The size of the effect in developed countries is twice as high as in developing ones. On the other hand, tourism specialisation is beneficial only at higher quantiles of the conditional growth distribution and only for developed countries. On the contrary, it brings about an undesirable effect in developing countries. Finally, we examine the impact of a reduction in tourism activity on economic growth due to an exogenous shock (i.e., COVID‐19). Simulation analysis based on the quantile regression estimates shows that countries facing relatively low growth rates conditionally to the growth distribution are affected the most. Policymakers may consider the importance of tourism activity in the growth process and formulate strategies that align with the growth experience of each country.

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Fresh insights into tourism-led economic growth nexus: a systematic literature network analysis approach

Cited by 17 publications

References 183 publications

Modelling the asymmetric productivity effects of tourism demand

Modelling the asymmetric productivity effects of tourism demand

Diversification in the tourism sector and economic growth in Australia: a disaggregated analysis

How important is tourism for growth?

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