In this paper we discuss the determinants which contribute to outbound tourism expenditures. The aim is to show whether and how different socio-economic factors in countries of origin are responsible for the demand, to spent money for tourist activities in foreign countries. While we are able to...

Is tourism an opportunity for lagging countries in the elusive quest for growth (Easterly, 2002)? Recent empirical evidence suggests that the answer is a cautious yes. Aggregate cross-country data show that tourism specialization is likely to be associated with higher per capita GDP growth rates...

Using a panel vector autoregressive model this paper investigates the dynamic and endogeneous contribution of tourism to output based on a sample of 40 African countries for the period 1990 - 2006. Results from the study confirm tourism to be an important ingredient of African development...

In this study, we employ the novel measure of a VAR-based spillover index, developed by Diebold and Yilmaz (2012) to investigate the time-varying relationship between tourism and economic growth in selected European countries. Overall, the findings suggest that (i) the tourism-economy...

This paper investigated the causal relationship between tourism revenue and gross domestic product (GDP) using the panel data of 135 countries for the period 1995–2008. For this purpose, Panel Granger causality analysis was applied to 11 groups of countries. This classification was created as...

After earlier success, growth performance in most Caribbean countries has been disappointing since the early 1990s. With slower growth, output has fallen behind that of relevant comparator countries. This paper analyzes the growth experience of the Caribbean countries from a cross country...