The Nexus Between Tourism and Economic Growth: Case of Commonwealth of Independent States

Abstract

In this study the relationship between tourism and economic growth examined with panel data analysis for the Commonwealth Independent States (Azerbaijan, Russian Federation, Ukraine, Armenia, Kazakhstan and Kyrgyzstan except Uzbekistan and Tajikistandue to lack of data) for the period between 1995 and 2015. The data has been downloaded from World Bank Development Indicators with their natural logarithmic forms. At the empirical part of the study GDP per capita (%) represents economic growth and international tourism receipts (of % total export) have been chosen as an indicator of tourism sector. The model has been tested with dynamic panel data analysis. Firstly preliminary tests have been applied to be sure about the the homogeneity of series (Delta test) and the crosssection depence ( test) of each individuals. After that second generation unit root test (Hadri Kurozomi-2012) used to find out the level of stationary. Durbin-H, co-integration test showed that there is co-integration between variables and finally Hurlin-Dumetriscu causality test (2012) does not support tourism-led growth hypothesis. So there is one-way causality from economic growth to tourism for selected countries.

Tourism and Economic Growth in Turkey: Fourier Approach

“…The impact of economic crises on this relationship is more pronounced in weak countries such as Spain, Portugal, Greece and South Cyprus. Sağlam and Egeli (2018) investigate the selected Commonwealth of Independent States (Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan Russia and Ukraine) for the period 1995-2015 with the Durbin-Hausman cointegration and the Dumitrescu-Hurlin causality tests. The first test reveals that the variables are cointegrated and the second test shows that there is only one-way relationship from GDP per capita to tourism receipts.…”

Práticas Verdes na Gestão Ambiental de Destinos: Os Efeitos da Consciência Ambiental Pessoal

“…Major industrial developments have brought environmental problems (Ecer, Pamucar, Mardani & Alrashedi, 2021). For example, with the development of air transport, the rapid development of mass tourism with the desire of people to travel, see and travel has led to many negativities such as rapid depletion of water and energy resources in the world, climate change, carbon emissions, pollution (Sağlam & Egeli, 2018). The relationship of tourism with the environment is one of the popular research topics.…”

Analysing Association in Environmental Pollution, Tourism and Economic Growth: Empirical Evidence from the Commonwealth of Independent States

“…The CIS economies have not yet achieved the desirable level of tourists, but the tourism industry undeniably possesses great potential and plays a substantial role in fostering economic growth. Sağlam and Egeli (2018) expounded that travel conservation policies may harm the economic growth of the CIS because these countries are generally not wasteful in terms of travel spending and foreign currency. Most tourists usually prefer Europe or close geographies such as European countries or Turkey to travel.…”