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Tourism, sustainability, and the economy in Bangladesh: The innovation connection amidst Covid-19

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  • Amin, Sakib Bin
  • Taghizadeh-Hesary, Farhad

Abstract

This paper aims to analyse the relationships among tourism, sustainability, and innovation in the Bangladesh economy. Based on annual data covering 1980 to 2019, we apply robust and standard time series econometric techniques and reveal that innovation and sustainability are significantly linked with tourism in Bangladesh. Furthermore, we use Computable General Equilibrium (CGE) modelling method to find the impact of the Covid-19 pandemic on the tourism industry. We find that the tourism industry is one of the highly affected industries in Bangladesh. As a recovery strategy, we reveal that innovation efficiency and government stimulus packages are much more effective in tackling the pandemic’s adverse impacts. Based on the holistic analysis, we also provide key policy suggestions for the sustainable development of the tourism industry.

Suggested Citation

  • Amin, Sakib Bin & Taghizadeh-Hesary, Farhad, 2023. "Tourism, sustainability, and the economy in Bangladesh: The innovation connection amidst Covid-19," Economic Analysis and Policy, Elsevier, vol. 79(C), pages 153-167.
    • Handle: RePEc:eee:ecanpo:v:79:y:2023:i:c:p:153-167
    DOI: 10.1016/j.eap.2023.06.018
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    More about this item

    Keywords

    Tourism; Innovation; Sustainability; Covid-19; Time series econometrics; CGE. sustainable development; Bangladesh;
    All these keywords.

    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • E16 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Social Accounting Matrix
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications

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