Examining The Tourism-Led Growth Hypothesis In GCC Countries

Examining The Tourism-Led Growth Hypothesis In GCC Countries

This study has utilized panel data that covers the period from 2001 to 2020 for the Gulf Cooperation Council (GCC) nations. The study utilized a three-stage panel Granger analysis with a random effect model. This included a panel unit root test, panel cointegration analysis, and panel Granger causal...

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Veröffentlicht in:Webology 2024-01, Vol.21 (1), p.127-138
1. Verfasser: Alqahtani, Reem A
Format: Artikel
Sprache:eng
Schlagworte:
Causality
Cointegration analysis
Cooperation
Economic development
Economic growth
Expenditures
Exports
Foreign exchange rates
GDP
Government spending
Gross Domestic Product
Growth models
Hypotheses
Literature reviews
Per capita
Pilgrimages
Pilgrims
Production functions
Religion
Time series
Tourism development
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Zusammenfassung:This study has utilized panel data that covers the period from 2001 to 2020 for the Gulf Cooperation Council (GCC) nations. The study utilized a three-stage panel Granger analysis with a random effect model. This included a panel unit root test, panel cointegration analysis, and panel Granger causality test. The study analyzed the correlation between tourism enhancement and economic development in GCC nations. Based on the Random Effects Model, spending per tourist is an indicator of tourism development. This has a positive and significant effect on the Gross Domestic Product (GDP) per person, which measures the economic growth of GCC countries. During this period, the Granger non-causality test results showed a one-way causality from tourism development to the GDP per person of GCC countries. The hypothesis of tourism-led growth was supported.
ISSN:1735-188X