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Tourism As A Long-Run Economic Growth Factor: The Spanish Case

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Author Info
Jacint Balaguer () (Universitat Jaume I)
Manuel Cantavella-Jordá (Universitat Jaume I)
Abstract

Este trabajo aporta evidencia acerca de la importancia de los ingresos de divisas por turismo en el crecimiento económico español experimentado en las últimas tres décadas. Los resultados econométricos indican que existe una relación de largo plazo entre el crecimiento de la renta del país y los ingresos procedentes del turismo internacional. Esta relación econométrica es única, y pone de relieve que la actividad turística tiene importantes efectos multiplicadores. Adicionalmente, se pone de relieve que la competitividad externa, cuyos efectos sobre el crecimiento económico son notablemente significativos, debe ser tenida en consideración a la hora de formular una relación a largo plazo. A la luz de los resultados obtenidos, cabe esperar que las distintas políticas publicas tanto en la adecuación de la oferta como en la promoción de la actividad turística puedan tener efectos beneficiosos sobre la renta. This paper examines the role of tourism in the Spanish long-run economic development. The tourist-led growth hypothesis is tested. The results indicate that, at least, during the last three decades economic growth in Spain has been sensible to persistent expansion of international tourism. The increase of this activity has produced multiplier effects over time. External competitivity has also been proved in the model to be a fundamental variable for Spanish economic growth in the long run. From the empirical analysis it can be inferred the positive effects on income that government policy, in the adequacy of supply as well as in the promotion of tourist activity, may bring about.

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Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie EC with number 2000-10.

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Length: 16 pages
Date of creation: Jun 2000
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Publication status: Published by Ivie
Handle: RePEc:ivi:wpasec:2000-10

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Keywords: economic growth; international tourism; multiplier effects crecimiento económico; turismo internacional; efectos multiplicadores;

References listed on IDEAS
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