Tourism as a driver of economic development: The Colombian experience
The current paper analyzes the importance and potentials of the tourism sector for economic development. It is divided into four major parts. After a short introduction, section two presents some theoretical insights into the topic of economic development. Commenting on the most relevant components of the catching-up theory by Abramovitz (1986) and the structural change theory by Baumol (1967) and others, it could be realized that growth and the accompanying structural changes in the distribution of employment and GDP have their sources in the sector industry. But at the moment of incorporating the demand side explanation of structural change, the service sectors offer growth potentials as well. Furthermore, the basic characteristics and importance of the tourism sector for economic development and employment are emphasized, examining the so-called 'social capabilities' and the innovation potential within the process of economic growth of any nation. A short survey of literature concerning the contribution of this sector to economic growth makes clear that tourism should be considered not just from the perspective of the benefits, but also from the costs associated with it. Section three provides an analysis of the economic impact of tourism in a developing country, namely Colombia, based on time-series analysis and data gathered supported on the 'Tourism Satellite Account' Methodology. Some relevant indicators produced by the World Economic Forum through its 'Travel and Tourism Competitiveness Report', are also evaluated. Finally, some conclusions are drawn with respect to the potentialities, as well as the challenges identified for the Colombian case.
|Date of creation:||Dec 2008|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: https://www.uni-hohenheim.de/wi-theorie/globalisierung/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Baumol, William J & Blackman, Sue Anne Batey & Wolff, Edward N, 1985.
"Unbalanced Growth Revisited: Asymptotic Stagnancy and New Evidence,"
American Economic Review,
American Economic Association, vol. 75(4), pages 806-17, September.
- Baumol, William J. & Batey Blackman, Sue Anne & Wolff, Edward N., 1984. "Unbalanced Growth Revisited: Asymptotic Stagnancy and New Evidence," Working Papers 84-02, C.V. Starr Center for Applied Economics, New York University.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
- Andrea Mervar & James E. Payne, 2007. "An Analysis of Foreign Tourism Demand for Croatian Destinations: Long-Run Elasticity Estimates," Working Papers 0701, The Institute of Economics, Zagreb.
- Elfring, Tom, 1989. "New Evidence on the Expansion of Service Employment in Advanced Economies," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 35(4), pages 409-40, December.
- Gundlach, Erich, 1994.
"Demand Bias as an Explanation for Structural Change,"
Wiley Blackwell, vol. 47(2), pages 249-67.
- Gundlach, Erich, 1993. "Demand bias as an explanation for structural change," Kiel Working Papers 594, Kiel Institute for the World Economy.
- Mark Rogers, 2004. "Absorptive capability and economic growth: how do countries catch-up?," Cambridge Journal of Economics, Oxford University Press, vol. 28(4), pages 577-596, July.
- Pugno, Maurizio, 2006.
"The service paradox and endogenous economic growth,"
Structural Change and Economic Dynamics,
Elsevier, vol. 17(1), pages 99-115, January.
- Maurizio Pugno, 2003. "The service paradox and endogenous economic growth," Department of Economics Working Papers 0301, Department of Economics, University of Trento, Italia.
- Abramovitz, Moses, 1986. "Catching Up, Forging Ahead, and Falling Behind," The Journal of Economic History, Cambridge University Press, vol. 46(02), pages 385-406, June.
- Allan G. B. Fisher, 1939. "Production, Primary, Secondary And Tertiary," The Economic Record, The Economic Society of Australia, vol. 15(1), pages 24-38, 06.
- Tiago Neves Sequeira & Carla Campos, 2005. "International Tourism and Economic Growth: a Panel Data Approach," Working Papers 2005.141, Fondazione Eni Enrico Mattei.
- M. Thea Sinclair, 1998. "Tourism and economic development: A survey," Journal of Development Studies, Taylor & Francis Journals, vol. 34(5), pages 1-51.
- Jonathan Temple & Paul A. Johnson, 1998. "Social Capability And Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 113(3), pages 965-990, August.
When requesting a correction, please mention this item's handle: RePEc:zbw:hohpro:y2008i26p1-36. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.