Open AccessSignificance of Tourism Budget, Inflation, and Interest Rate on Economic Growth in Indonesia for the Year of 2011-2020
Author(s) -
Zata Hasyyati
Publication year - 2022
Publication title -
international journal of research and review
Language(s) - English
Resource type - Journals
eISSN - 2454-2237
pISSN - 2349-9788
DOI - 10.52403/ijrr.20220122
Subject(s) - tourism , inflation (cosmology) , economics , christian ministry , interest rate , inflation rate , deficit spending , macroeconomics , regression analysis , real interest rate , monetary economics , monetary policy , political science , statistics , debt , physics , mathematics , theoretical physics , law
This study is aimed to investigate the relationship of tourism budget, inflation, interest rate on economic growth in Indonesia in 2011 – 2020. Data was gathered from Central Bureau of Statistics (Badan Pusat Statistik/BPS) and Ministry of Finance (Kementerian Keuangan/Kemenkeu). The data were analyzed using the multiple regression analysis after fulfilling all of the classical assumption tests. It showed that the inflation and interest rate have significant positive impact while tourism budget has insignificant negative impact on economic growth. In this case, monetary policy tends to be efficiently implemented at the level of promoting growth. However, Indonesia is still early on hoping significant contribution of tourism sector.Keywords: Tourism Budget, Inflation, Interest Rate, Economic Growth, GDP, Multiple Regression Analysis.