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Is the tourism‐led growth hypothesis valid for malaysia? a view from disaggregated tourism markets
Author(s) -
Tang Chor Foon
Publication year - 2010
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.807
Subject(s) - tourism , cointegration , granger causality , economics , identification (biology) , causality (physics) , financial economics , econometrics , macroeconomics , geography , botany , biology , physics , archaeology , quantum mechanics
This research note attempts to re‐investigate the validity of tourism‐led growth hypothesis for Malaysia based on the data set of 12 different tourism markets from January 1995 to February 2009. The error‐correction modelling‐based cointegration test shows that economic growth and international tourist arrivals are cointegrated for all tourism markets. Nevertheless, the Granger causality results demonstrate that not all international tourism markets Granger‐cause economic growth. Therefore, identification of potential tourism markets is vital for implementing effective tourism marketing policies. Copyright © 2010 John Wiley & Sons, Ltd.