The Impact of Tourism on GDP Growth in the European Union Countries

Abstract

Tourism represents one of the most important economic activities for the global economy. Over the last several decades, the tourism industry has been achieving substantial growth and development in the global market, as well as a positive direct and indirect impact on other economic activities. The paper aims to examine the connection between five tourism indicators and the growth of gross domestic product on the example of EU countries in the period from 2001 to 2019. The research included a total of six variables; the gross domestic product being the dependent variable, while the selected five tourism indicators were independent variables. The main aim of the paper is to determine which of the researched tourism indicators have a statistically significant impact on GDP growth. The empirical analysis is based on IBM SPSS linear mixed procedures. The main findings are that business tourism spending (BTS) and domestic tourism spending (DTS) can predict in a statistically significant and positive way the growth of the gross domestic product in European Union countries.

Film Industry in the Function of Destination Branding

“…(Mirović, et al, 2020, 48). In one study (Pjanić & Mitrašević, 2020) the obtained results confirmed that tourism has a positive impact on the growth of gross domestic product (GDP) in EU countries. Of course, the tourism industry is not one or the only industry, and its progress or stagnation affects others because it is directly or indirectly largely related to many other industries.…”

Estimating International Tourism Indicators in Context of Macroeconomic Stability and Fiscal Sustainability in the Republic of Serbia

“…When it comes to European Union, Haller et al (2020) have found a positive and direct causality between tourism and economic growth in EU member states from 2012 to 2018. Similarly, business tourism spending and domestic tourism spending significantly affect the economic growth in European Union (Pjanić & Mitrašević, 2020). Also, Gričar et al (2021) investigated the relationship between tourist arrivals and gross domestic product in Montenegro and Slovenia for the period 2010-2019.…”

Is the Tourism-Led Growth Hypothesis Valid for Višegrad Group Countries?

“…Banerjee et al (2018) argue that tourism is one of the rapidly growing economic industries that makes 10% of the gross domestic product, as well as 30% of export in the services sectors in the global economy. Brida et al (2020) point out that the tourism sector positively contributes to economic growth while Pjanić and Mitrašević (2020) point out the significant effects of business tourism spending and domestic tourism spending on economic growth in the European Union. indicate that the tourism sector can contribute to economic growth but only when countries have geopolitical stability.…”