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The determinants of tourism revenue in Vietnam: A study with the spatial panel regression

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  • Thao Thi Phuong Hoang

    (Yersin University, Dalat City, Vietnam)

Abstract

The Vietnamese government has been putting great effort into tourism development over these decades. The key strategies are to focus on regional linkages and to improve competitiveness by creating a fair, transparent, and dynamic governance environment. This research aims to investigate the determinants of tourism revenue in Vietnam in 2015 - 2019. The spatial panel regression method is employed for conducting the study. The study finds a spatial effect on tourism revenue in 63 provinces but it is a negative one. The number of tourists, the number of hotels, movement, and reducing time cost play an important role in improving tourism economic efficiency. Meanwhile, eliminating informal charges and improving proactive leadership raise a warning for policymakers due to their negative impact on Vietnam’s tourism revenue growth in the period 2015 - 2019. Based on the findings, this study contributes several policy recommendations.

Suggested Citation

  • Thao Thi Phuong Hoang, 2025. "The determinants of tourism revenue in Vietnam: A study with the spatial panel regression," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 15(1), pages 130-151.
    • Handle: RePEc:bjw:econen:v:15:y:2025:i:1:p:130-151
    DOI: 10.46223/HCMCOUJS.econ.en.15.1.3175.2025
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    References listed on IDEAS

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    1. Thi Thu Huong Hoang & Anton Van Rompaey & Patrick Meyfroidt & Gerard Govers & Kim Chi Vu & An Thinh Nguyen & Luc Hens & Veerle Vanacker, 2020. "Impact of tourism development on the local livelihoods and land cover change in the Northern Vietnamese highlands," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 22(2), pages 1371-1395, February.
    2. Michael Klein & Fuat Sener, 2023. "Product Innovation, Diffusion and Endogenous Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 178-201, April.
    3. David M. Drukker & Hua Peng & Ingmar Prucha & Rafal Raciborski, 2013. "Creating and managing spatial-weighting matrices with the spmat command," Stata Journal, StataCorp LLC, vol. 13(2), pages 242-286, June.
    4. Christopher S. Ruebeck & Troy Tassier, 2021. "Introduction to the Special Issue on Agent-Based Computational Economics," Computational Economics, Springer;Society for Computational Economics, vol. 58(1), pages 1-2, June.
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    Keywords

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    JEL classification:

    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development
    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics

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