Tourism expansion, tourism uncertainty and economic growth: New evidence from Taiwan and Korea

Chen, Ching-Fu; Chiou-Wei, Song Zan

doi:10.1016/j.tourman.2008.12.013

Cited by 237 publications

(166 citation statements)

References 28 publications

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“…Tourism can act as a growth engine; it contributes to GDP growth, job creation, and foreign exchange generation. Researchers [8][9][10][11][12][13][14][15] suggested many reasons for tourism to be a positive long-run factor in the economic growth of a country. These reasons are as follows:…”

Section: Literature Reviewmentioning

confidence: 99%

Is Tourism Development a Sustainable Economic Growth Strategy in the Long Run? Evidence from GCC Countries

Alhowaish

2016

Sustainability

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Abstract:The main objective of this study is to investigate the causal relationship between tourism development and economic growth in Gulf Cooperation Council (GCC) countries in a multivariate model, using panel data for the period 1995-2012. The study adopts a panel Granger causality analysis approach to assess the contribution of tourism to economic growth in GCC countries as a whole, and in each individual country. In the case of GCC countries as a whole, the results show a one-way Granger causality, from economic growth to tourism growth. Furthermore, Kuwait, Saudi Arabia, Qatar, and the United Arab Emirates follow the path of economy-driven tourism growth, as hypothesized. The reverse hypothesis (i.e., tourism-led growth hypothesis) holds true for Bahrain, while there is no causal relationship between tourism and economic growth in the case of Oman.

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Section: Literature Reviewmentioning

confidence: 99%

Is Tourism Development a Sustainable Economic Growth Strategy in the Long Run? Evidence from GCC Countries

Alhowaish

2016

Sustainability

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“…On top of that, and in light of the recent economic developments of 2007-08 global financial crisis and its subsequent European debt crisis, it is thus warranted to examine whether and how these incidents have affected the relationship between tourism and economic growth. The determination and the extent of the aforementioned timevarying relationship is valuable for informing current and future EU and national policy frameworks (Chen and Chiou-Wei, 2009). Therefore, the aim of this paper is to investigate the link between tourism growth and economic growth, by paying particular attention to its time-varying nature and its relation to the global financial and European debt crisis.…”

Section: Introductionmentioning

confidence: 99%

“…Pertaining to the readily available information, bidirectional causality could also exist between tourism income and economic growth (see, inter alia, Lee and Chang, 2008;Chen and Chiou-Wei, 2009;Seetanah, 2011;Apergis and Payne, 2012;Ridderstaat et al, 2013). From a policy view, a reciprocal tourism-economic growth relationship implies that government agendas should cater for promoting both areas simultaneously.…”

Section: Introductionmentioning

confidence: 99%

How strong is the linkage between tourism and economic growth in Europe?

2015

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In this study, we examine the dynamic relationship between tourism growth and economic growth, using a newly introduced spillover index approach. Based on monthly data for 10 European countries over the period 1995-2012, our analysis reveals the following empirical regularities. First, the tourism-economic growth relationship is not stable over time in terms of both magnitude and direction, indicating that the tourism-led economic growth (TLEG) and the economic-driven tourism growth (EDTG) hypotheses are time-dependent. Second, the aforementioned relationship is also highly economic event-dependent, as it is influenced by the Great Recession of 2007 and the ongoing Eurozone debt crisis that began in 2010. Finally, the impact of these economic events is more pronounced in Cyprus, Greece, Portugal and Spain, which are the European countries that have witnessed the greatest economic downturn since 2009. Plausible explanations of these results are provided and policy implications are drawn.

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“…Several authors have conducted empirical studies on the correlation between tourism demand and the economic conditions of Taiwan. For example, Kim, Chen, and Jang (2006), Lee and Chien (2008), and Chen and Song Zan (2009) used overall tourist arrivals as a proxy for tourism growth to discuss the relationship between tourism development and macroeconomic growth. Nevertheless, researchers have largely overlooked the tourism arrival changes from individual origin counties in response to different macroeconomic conditions.…”

Section: Introductionmentioning

confidence: 99%

Analysis of Tourist Flow from the US to Taiwan

Chen

Kang

2015

Acta Oeconomica

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It is important for Taiwanese policy makers to understand how economic factors affect US tourists' decision to travel to Taiwan. For the long-run analysis, Johansen's cointegration test reveals that three cointegration vectors exist among the model variables, indicating a long-run relationship. To conduct a short-run analysis, this paper employs vector auto regression (VAR) to estimate the responses of US tourists in Taiwan to the shocks of changes to personal disposable income, cost of living, and substitute price. The short-run equilibrium adjustment processes are discussed in terms of generalized impulse response. The results show an immediate and signifi cant response of changes in tourist arrivals to their own impacts, changes in the cost of living, and changes in the substitute price. In addition, the price, income, and cross-elasticity of tourism demand are all positive at the beginning of the responses, implying that the tourism products can be attributed to normal and substitute goods.

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Tourism expansion, tourism uncertainty and economic growth: New evidence from Taiwan and Korea

Cited by 237 publications

References 28 publications

Is Tourism Development a Sustainable Economic Growth Strategy in the Long Run? Evidence from GCC Countries

Is Tourism Development a Sustainable Economic Growth Strategy in the Long Run? Evidence from GCC Countries

How strong is the linkage between tourism and economic growth in Europe?

Analysis of Tourist Flow from the US to Taiwan

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