Research note: Tourism and economic growth in Latin American countries - further empirical evidence
Authors: Fayissa, Bichaka; Nsiah, Christian; Tadesse, Bedassa
Source: Tourism Economics, Volume 17, Number 6, December 2011 , pp. 1365-1373(9)
Publisher: IP Publishing Ltd
Abstract:Using panel data that span from 1990 to 2005, the authors investigate the impact of tourism on the economic growth of 18 heterogeneous Latin American countries within the framework of the conventional neoclassical growth model. Results from the empirical models show that revenues from the tourism industry contribute positively to both the current level and the growth rate of the per capita GDP of the countries in the region, as do investments in physical and human capital. The findings imply that Latin American economies may enhance their economic growth in the short run by strengthening their tourism industries strategically, while not neglecting the traditional sources of economic growth.
Document Type: Research article
Publication date: 2011-12-01
Tourism Economics, published bimonthly, is a peer-reviewed journal devoted to the economics and finance of tourism worldwide. Articles address the components of the tourism product (accommodation; restaurants; merchandizing; attractions; transport; entertainment; tourist activities); and the economic organization of tourism at micro and macro levels (market structure; role of public/private sectors; community interests; strategic planning; marketing; finance; economic development).
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