THE RELEVANCE OF TOURISM AND DEVELOPMENT. Tourism’s Impact On Socio-Economic Development in Southeast Asia: A Panel Data Analysis
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2022-08-22
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en
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Countries want to develop their economies and increase their welfare, and in order to reach their goals, they must produce more goods and services. In this context, the tourism sector can offer an essential opportunity due to its contribution to the GDPs, employment and development of infrastructure in the developing world. However, although it is always talked about how it can contribute to economic growth, tourism's impact on overall socio-economic development has yet to be investigated further. Therefore, in this study, the effect of tourism income, the number of rooms in hotels and similar establishments and the number of tourists on the overall socio-economic development of 8 ASEAN countries Cambodia, Indonesia, Philippines, Vietnam, Myanmar, Lao PDR, Thailand, and Malaysia in the period of 1995-2019 was investigated by panel data analysis method. The study's findings show a positive relationship between HDI and tourism growth, as expected and a negative relationship between adjusted net savings and tourism. However, no significant results were found for GDP per capita or CO2 emissions.
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Faculteit der Managementwetenschappen