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The Role Of Sustainable Competitiveness Indicator In Malaysian Tourism And Economic Growth

Author

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  • Ann-Ni SOH

    (Universiti Malaysia Sarawak, 94300 Kota Samarahan, Malaysia)

  • Chin-Hong PUAH

    (Universiti Malaysia Sarawak, 94300 Kota Samarahan, Malaysia)

  • Affendy Arip MOHAMMAD

    (Universiti Malaysia Sarawak, 94300 Kota Samarahan, Malaysia)

  • Meng-Chang JONG

    (Universiti Malaysia Sarawak, 94300 Kota Samarahan, Malaysia)

Abstract

This paper proposes a sustainable competitiveness indicator for the state of tourism vulnerability in the Malaysian tourism market. Further investigation has also been done on the time-frequency and lead-lag relationship of the indicator with tourism development and economic growth. The resultant indicator is consisted of 12 variables, identified based on the pillars of sustainability and competitiveness to extract a common vulnerability component using a dynamic approximate factor model. The model’s accuracy rate was at a promising 92% based on the variable importance assessment using random forest algorithms. Through the implementation of bivariate wavelet coherence analysis, the empirical results indicated that the constructed indicator has a positive leading role in Malaysian tourism development and economic growth. This indicator can be embedded within an early warning system to signify vulnerabilities in the Malaysian tourism market.

Suggested Citation

  • Ann-Ni SOH & Chin-Hong PUAH & Affendy Arip MOHAMMAD & Meng-Chang JONG, 2024. "The Role Of Sustainable Competitiveness Indicator In Malaysian Tourism And Economic Growth," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 19(3), pages 228-240, December.
    • Handle: RePEc:blg:journl:v:19:y:2024:i:3:p:228-240
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    References listed on IDEAS

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    1. World Bank, 2013. "Malaysia Economic Monitor, June 2013," World Bank Publications - Reports 16529, The World Bank Group.
    2. Sakkarin NONTHAPOT, 2017. "Causality between Capital Investment in the Tourism Sector and Tourist Arrivals in ASEAN," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 8(8), pages 2504-2511.
    3. Azmat Gani & Michael D. Clemes, 2021. "Business environment effect on business visitor arrivals to New Zealand," Current Issues in Tourism, Taylor & Francis Journals, vol. 24(17), pages 2445-2457, September.
    4. Mukesh Kumar & Sanjeev Prashar & RK Jana, 2019. "Does international tourism spur international trade and output? Evidence from wavelet analysis," Tourism Economics, , vol. 25(1), pages 22-33, February.
    5. repec:een:camaaa:2019-03 is not listed on IDEAS
    6. Nishaal Gooroochurn & Guntur Sugiyarto, 2005. "Competitiveness Indicators in the Travel and Tourism Industry," Tourism Economics, , vol. 11(1), pages 25-43, March.
    7. repec:srs:journl:jarle:v:8:y:2017:i:8:p:2504-2511 is not listed on IDEAS
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    Cited by:

    1. Wei Deng & Xuehan Chen & Lisha Jiang, 2025. "Assessment and Improvement Strategies for Sustainable Development in China’s Cultural and Tourism Sector," Sustainability, MDPI, vol. 17(13), pages 1-46, June.

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