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The Impact of Geopolitical Risks on Tourism

Author

Listed:
  • Marius-Cristian Neacsu

    (The Bucharest University of Economic Studies, Bucharest, Romania)

  • Silviu Negut

    (The Bucharest University of Economic Studies, Bucharest, Romania)

  • Gheorghe Vlasceanu

    (The Bucharest University of Economic Studies, Bucharest, Romania)

Abstract

Tourism is considered an opportunity for ensuring sustainable growth and reducing economic gaps for many less developed countries and regions. Being one of the most dynamics industries, tourism proves to be strongly resilient, with a high level of involvement and multiplication for receiver economies. The multiplication potential is, however, dependent upon a series of factors (endogenous and exogenous), insufficiently analysed in the literature, and the impact on growth and convergence is controversial. This paper aims to bring additional insights from this perspective, the main purpose of the research being to identify the macroeconomic determinants responsible for the higher values of the tourism multiplier effect and to highlight the potential of this industry to reduce the disparities between the economies of the European Union EU. Using the Stepwise regression and a series of indicators that associate the economic, social and spatial dimensions of European tourism, the main determinants of multiplier effects (on GDP and job creation) are identified and, then, the processes of multiplication from the perspective of centre-periphery dynamics are analysed. The research results indicated that tourism development in the Union reflects a centre-periphery model and has a high potential for contributing to reducing intra-EU disparities.

Suggested Citation

  • Marius-Cristian Neacsu & Silviu Negut & Gheorghe Vlasceanu, 2018. "The Impact of Geopolitical Risks on Tourism," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 20(S12), pages 870-870, November.
    • Handle: RePEc:aes:amfeco:v:20:y:2018:i:s12:p:870
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    References listed on IDEAS

    as
    1. Dario Caldara & Matteo Iacoviello, 2022. "Measuring Geopolitical Risk," American Economic Review, American Economic Association, vol. 112(4), pages 1194-1225, April.
    2. Institute for Economics and Peace, 2017. "Global Peace Index 2017," Working Papers id:11991, eSocialSciences.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Alisa Kazakova & Insin Kim, 2021. "Geopolitical-Risk and Economic Policy—Uncertainty Impacts on Tourist Flows from Neighboring Countries: A Wavelet Analysis," Sustainability, MDPI, vol. 13(24), pages 1-13, December.
    2. Veli YILANCI & Sertaç HOPOĞLU & Hakan ERYÜZLÜ, 2023. "The impact of the economic policy uncertainty and geopolitical risks on tourism demand of Mexico," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(3(636), A), pages 147-164, Autumn.
    3. Mihail Ovidiu Tănase & Răzvan Dina & Florin-Lucian Isac & Sergiu Rusu & Puiu Nistoreanu & Cosmin Nicolae Mirea, 2022. "Romanian Wine Tourism—A Paved Road or a Footpath in Rural Tourism?," Sustainability, MDPI, vol. 14(7), pages 1-24, March.
    4. Beata Ślusarczyk & Katarzyna Grondys, 2019. "Parametric Conditions of High Financial Risk in the SME Sector," Risks, MDPI, vol. 7(3), pages 1-17, August.

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    More about this item

    Keywords

    tourism; European Union; tourism multiplier effect; stepwise regression; tourism competiveness; centre-periphery pattern.;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • L93 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Air Transportation
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

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