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Author:
Sheilla Nyasha, Department of Economics, University of South Africa, Pretoria, South Africa

Coauthors:
Nicholas M. Odhiambo , Department of Economics, University of South Africa, Pretoria, South Africa

Determinants of Tourism Development: Empirical Evidence from three Developing Countries

Volume 74 - Issue 3, August 2021
(pp. 335-368)
JEL classification: Z30, Z32
Keywords: Tourism Development, Determinants, South Africa, Brazil, Vietnam, ARDL

Abstract

This study examines the key determinants of tourism development in South Africa, Brazil and Vietnam during the period 1995- 2018. Despite the growing empirical literature on the determinants of tourism development from a number of countries, these countries have remained understudied. The study uses two proxies, namely: tourism revenue (TR) and the number of international tourist arrivals (TA), to measure the level of tourism development. Using the ARDL bounds-testing approach, the results show that the determinants of tourism development differ from country to country and over time. In addition, the study shows that the determinants depend on the proxy used to measure the level of tourism development. Overall, the study found that the positive drivers of tourism in these countries are tourist disposable income, financial development, trade openness and political stability, while the negative drivers include exchange rate, price level and carbon emissions.

 

 

 


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Institute for International Economics
of the Genoa Chamber of Commerce


Istituto di Economia Internazionale
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