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Tourism as an Economic Growth Factor: A Case Study for Southern European Countries

Author

Listed:
  • Sara Proença

    (Escola Superior Agrária de Coimbra, Departamento de Ciências Sociais e Humanas, Sector de Economia e Gestão, Bencanta, 3040-316 Coimbra, Portugal)

  • Elias Soukiazis

    (Faculdade de Economia, Universidade de Coimbra, Av. Dias da Silva, 165, 3004–512 Coimbra, Portugal)

Abstract

This paper examines the importance of tourism as a conditioning factor for improving the host population's standard of living. In so doing, the well-known conditional convergence approach of Barro and Sala-i-Martin is used to test for convergence in per capita income among four Southern European countries (Greece, Italy, Portugal and Spain), each with a long tradition as a tourist destination. The empirical analysis uses panel data techniques to estimate growth equations, combining time-series and cross-sectional data for the four countries, from 1990 to 2004. The results indicate that tourism contributes significantly to the improvement of the standard of living in these countries and acts as a factor of convergence.

Suggested Citation

  • Sara Proença & Elias Soukiazis, 2008. "Tourism as an Economic Growth Factor: A Case Study for Southern European Countries," Tourism Economics, , vol. 14(4), pages 791-806, December.
    • Handle: RePEc:sae:toueco:v:14:y:2008:i:4:p:791-806
    DOI: 10.5367/000000008786440175
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    References listed on IDEAS

    as
    1. Elias Soukiazis & Sara Proença, 2008. "Tourism as an alternative source of regional growth in Portugal: a panel data analysis at NUTS II and III levels," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 7(1), pages 43-61, April.
    2. Lokman Gunduz & Abdulnasser Hatemi-J, 2005. "Is the tourism-led growth hypothesis valid for Turkey?," Applied Economics Letters, Taylor & Francis Journals, vol. 12(8), pages 499-504.
    3. Nikolaos Dritsakis, 2004. "Tourism as a Long-Run Economic Growth Factor: An Empirical Investigation for Greece Using Causality Analysis," Tourism Economics, , vol. 10(3), pages 305-316, September.
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