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The Causality Among Tourism Related Factors And Gdp For Eu Members

Author

Listed:
  • Biagio SIMONETTI

    () (Department of Economics, Management and Quantitative Methods, Universita Degli Studi del Sannio, Italia)

  • Ayhan KAPUSUZOGLU

    () (Department of Banking and Finance, Ankara Yildirim Beyazit University, Turkey)

  • Nildag Basak CEYLAN

    () (Department of Banking and Finance, Ankara Yildirim Beyazit University, Turkey)

Abstract

Tourism is an important concept for the EU countries which is economically the second market in the world. The countries try to increase their tourism revenues as they contribute to the economy. International tourism is considered as a major source of exporting revenues for the EU member countries. Having too much importance in the economy, this paper aims to examine the long term and short term relationships among international tourism revenues and tourism related factors such as tourism expenditure, tourist arrivals and GDP of the EU member countries. As a methodology, Granger causality and Johansen cointegration methods are used. The panel data analysis is performed for 22 years using annual data of the EU member countries. The main findings of the tests reveal the existence of long run relationship between tourism revenue and GDP, tourism arrivals and GDP and tourism expenditure and GDP.

Suggested Citation

  • Biagio SIMONETTI & Ayhan KAPUSUZOGLU & Nildag Basak CEYLAN, 2019. "The Causality Among Tourism Related Factors And Gdp For Eu Members," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 18(2), pages 3-9.
  • Handle: RePEc:pts:journl:y:2019:i:2:p:3-9
    as

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    References listed on IDEAS

    as
    1. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 39(3), pages 106-135.
    2. Jacint Balaguer & Manuel Cantavella-Jorda, 2002. "Tourism as a long-run economic growth factor: the Spanish case," Applied Economics, Taylor & Francis Journals, vol. 34(7), pages 877-884.
    3. Arslanturk, Yalcin & Balcilar, Mehmet & Ozdemir, Zeynel Abidin, 2011. "Time-varying linkages between tourism receipts and economic growth in a small open economy," Economic Modelling, Elsevier, vol. 28(1), pages 664-671.
    4. Shahzad, Syed Jawad Hussain & Shahbaz, Muhammad & Ferrer, Román & Kumar, Ronald Ravinesh, 2017. "Tourism-led growth hypothesis in the top ten tourist destinations: New evidence using the quantile-on-quantile approach," Tourism Management, Elsevier, vol. 60(C), pages 223-232.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    European Union; Tourism; GDP; Causality.;

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

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