Open AccessTesting tourism-led economic growth and economic-driven tourism growth hypotheses
Author(s) -
Khatai Aliyev,
Nargiz Ahmadova
Publication year - 2020
Publication title -
tourism
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.337
H-Index - 22
eISSN - 1849-1545
pISSN - 1332-7461
DOI - 10.37741/t.68.1.4
Subject(s) - tourism , cointegration , economics , government (linguistics) , economic geography , resource curse , tourism geography , production (economics) , human capital , development economics , economic system , economy , macroeconomics , economic growth , natural resource , geography , political science , econometrics , linguistics , philosophy , archaeology , law
This paper empirically investigates a causal relationship between tourism and economicgrowth in Georgia for 1997-2018 period by employing ARDLBTapproach to cointegration. Results reject economic-driven tourism growthhypothesis for Georgia and reveal that impact of tourism development overeconomic growth is negative in the long-run, in contrary positive in the short-run.Obtained results suggest that there is a possibility to have a tourism resourcecurse in the long-term in Georgia. Georgian government should build a tourismstrategy to avoid crowding out of human capital from industrial production and decreasethe share of imports for the needs of tourism sector