A Panel Cointegration Analysis of the Impact of Tourism on Economic Growth: Evidence from the Middle East Region | Zendy

Saleh Ali Salman | Zendy; Assaf A. George | Zendy; Ihalanayake Ranjith | Zendy; Lung Sidney | Zendy

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A Panel Cointegration Analysis of the Impact of Tourism on Economic Growth: Evidence from the Middle East Region

Author(s) -

Saleh Ali Salman,

Assaf A. George,

Ihalanayake Ranjith,

Lung Sidney

Publication year - 2013

Publication title -

international journal of tourism research

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 1.155

H-Index - 58

eISSN - 1522-1970

pISSN - 1099-2340

DOI - 10.1002/jtr.1976

Subject(s) - cointegration , tourism , panel data , economics , middle east , investment (military) , foreign direct investment , estimation , macroeconomics , panel analysis , econometrics , economy , international economics , economic geography , geography , political science , management , archaeology , politics , law

This paper examines the contribution of tourism industry to the GDP of three selected destinations in the Middle East region: Bahrain, Jordan and Saudi Arabia. We introduce a quadratic functional form and apply the advanced panel cointegration dynamic model with robust estimation to test our hypothesis. Our analysis is based on a comprehensive set of panel data of tourism receipts, education investment, foreign direct investment and fixed capital formation over the period of 1981–2008. The results show a long‐run relationship between tourism growth and GDP. We also show that tourism has a stronger impact on the economy than other related sectors. Copyright © 2013 John Wiley & Sons, Ltd.

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