INTERNATIONAL TOURISM IS IN FOR A MAJOR BOOST
Keywords:
sustainable tourism, economic growth, employment, gross domestic product.Abstract
In the global economy, tourism is one of the most noticeable and growing sectors. This sector plays an important role in boosting a nation’s economy. An increase in tourism flow can bring positive economic outcomes to the nations, especially in gross domestic product (GDP) and employment opportunities. The period under study was from 1990 to 2015. To check whether the variables under study were stationary, augmented Dickey–Fuller and Phillips–Perron unit root tests were applied. A regression technique and Johansen cointegration approach were employed for the analysis of data. This study suggests that legislators should focus on the policies with special emphasis on the promotion of tourism due to its great potential throughout the country. Policy implications of this recent study and future research suggestions are also mentioned.
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