Tourism and Economic Growth: The case of Next 11 Countries
The aim of this paper is to analyse the relationship between tourism activity and economic growth for Next-11 countries. It is concluded that there is a long run relationship between tourist arrivals and GDP and tourism arrivals has positive effect on GDP growth in N-11 countries. We find that a unidirectional causality from economic growth to tourism is valid confirming Economic Driven Tourism Growth Hypothesis.
Keywords: Tourism development; Economic growth; Causality; N-11
JEL Classifications: F43; L83