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Pattern of Relationship between Tourism and Economic Growth


Affiliations
1 Assistant Professor, PG Department of Commerce and Business Management, Doaba College, Jalandhar, Punjab, India
2 Assistant Professor, Punjabi University Regional Center for IT and Management, Punjab, India
     

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Tourism sector is tremendously growing sector of BRICS economies during past two decades. Tourism industry directly or indirectly contributes to the GDP, employment and balance of payment to the financial system of every economy. This sector is also contributing to increase the revenue and thus converting financial deficit into surplus. Therefore, an effort is made to observe the causal association linking tourism industry and BRICS economies. GDP and receipts from this sector have been taken as proxy respectively for BRICS economies and tourism sector to check the causal relation. Data was gathered from various sources and suitable techniques were employed to analyses the data. The results of the study presented that in the case of Brazil as well as China, growth in GDP cause growth in Tourism Receipts whereas reciprocal relationship exists for other countries,

Keywords

Tourism, Growth, BRICS, Causality, Development
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  • Pattern of Relationship between Tourism and Economic Growth

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Authors

Nitasha Sharma
Assistant Professor, PG Department of Commerce and Business Management, Doaba College, Jalandhar, Punjab, India
Sandeep Singh
Assistant Professor, Punjabi University Regional Center for IT and Management, Punjab, India

Abstract


Tourism sector is tremendously growing sector of BRICS economies during past two decades. Tourism industry directly or indirectly contributes to the GDP, employment and balance of payment to the financial system of every economy. This sector is also contributing to increase the revenue and thus converting financial deficit into surplus. Therefore, an effort is made to observe the causal association linking tourism industry and BRICS economies. GDP and receipts from this sector have been taken as proxy respectively for BRICS economies and tourism sector to check the causal relation. Data was gathered from various sources and suitable techniques were employed to analyses the data. The results of the study presented that in the case of Brazil as well as China, growth in GDP cause growth in Tourism Receipts whereas reciprocal relationship exists for other countries,

Keywords


Tourism, Growth, BRICS, Causality, Development

References