Nexus between Tourism and Gross Domestic Product in Sri Lanka

Aslam, A.L.M.

doi:10.18052/www.scipress.com/ILSHS.71.25

ILSHS > ILSHS Volume 71 > Nexus between Tourism and Gross Domestic Product...

< Back to Volume

Nexus between Tourism and Gross Domestic Product in Sri Lanka

Full Text PDF

Abstract:

Nowadays, policy makers believe that the tourism is a positive tool for economic growth of nations because which helps to economies of countries by several ways. In Sri Lankan experience it was not statistically confirmed. The aim of this study was to test the nexus between the tourism earnings and the gross domestic product in Sri Lanka. To test this nexus this study used time series data during the period of 1970 to 2014, and employed the multiple regressions model. In this study, the gross domestic product in constant price was used as dependant variable and exchange rate, foreign remittance, tourism earning, and inflation rate were considered as independent variables. Based on the regression outcomes, this study found that the tourism positively maintained the nexus on the gross domestic product in Sri Lanka at five percent significant level.

Info:

Periodical:

International Letters of Social and Humanistic Sciences (Volume 71)

Pages:

25-32

DOI:

https://doi.org/10.18052/www.scipress.com/ILSHS.71.25

Citation:

A.L.M. Aslam, "Nexus between Tourism and Gross Domestic Product in Sri Lanka", International Letters of Social and Humanistic Sciences, Vol. 71, pp. 25-32, 2016

Online since:

July 2016

Authors:

A.L.M. Aslam

Keywords:

Economies, Gross Domestic Product, Policy Makers, Sri Lanka, Tourism Income

Export:

RIS, BibTeX, Text

Distribution:

Open Access

This work is licensed under a
Creative Commons Attribution 4.0 International License

References:

[1] A. Assadzadeh, M.H.N. Nasab, Investigating the relationship between Tourism Industry and GDP in the Islamic Republic of Iran", International Review of Business Research Papers, 8: 2 (2012) 85-95.

[2] A.J. Samimi, S. Sadeghi, Tourism and Economic Growth in Developing Countries: P- VAR Approach, Middle – East Journal of Scientific Research, 10: 1 (2011) 28-32.

[3] A.J. Samimi, S. Sadeghi, S. Sadeghi, Tourism and Economic Growth in Developing Countries: P- VAR Approach", Middle – East Journal of Scientific Research, 10: 1(2011) 28-32.

[4] A.K. Tiwari, Tourism, Export and FDI as a Means of Growth: Evidence from four Asian Countries, The Romanian Economic Journal, XIV: 40 (2011) 131- 151.

[5] A.M. Mustafa, S. Santhirasekaram, Empirical Investigation of the relationship between toruism receipts and sustainable economic growth in Sri Lanka, Journal of Emerging Trends in Economics and Management Sciences, 5: 7 (2014) 131- 137.

[6] A.M.P. Adikari, The Study of Impacts of Tourism Industry on Employment and Gross Domestic Product in Sri Lanka, Proceeding of First Annual Research Conference, Rajarata University of Sri Lanka (2013).

[7] A. R Aleemi, M.A. Qureshi, (2015), Tourism receipts and Economic Growth: Empirical Evidence from Pakistan, International Journal of Research, 2: 2 (2015) 1401-1409.

[8] B. Fayissa, C. Nisah, C. Tadesse, Tourism and Economic Growth in Latin American Countries (LAC): Further Empirical Evidence, Department of Economics and Finance Working Paper Series (2009).

DOI: https://doi.org/10.5367/te.2011.0095

[9] B. Fayissa, C. Nsiah, B. Tadasse, The Economics of the impact of tourism on economic growth and development in Africa, Middle Tennessee State University, Department of Economics and Finance. Working Paper Series, August (2007).

DOI: https://doi.org/10.5367/000000008786440229

[10] B.G. Wickremasinghe, R. Ihalanayaka, The causal relationship between tourism and economic growth in Sri Lanka: some empirical evidence", (2007).

[11] B. Savas, A. Beskaya, F. Samiloglu, Analyzing The Impact of International Tourism on Economic Growth in Turkey", Journal of Social Sciences, 6: 12 (2010) 121- 136.

[12] B.P. Gautam, Tourism and Economic Growth in Nepal, Nepal Rastra Bank Economic Review, Nepal (2009) 19-30.

[13] J. Suresh, S. Senthilnathan, Relationship between tourism and Economic Growth in Sri Lanka, (2013) available on: http: /ssm. com/abstract=2373931.

[14] J.L. Eugenio- Martin, N.M. Morales, R. Scarpa, Tourism and Economic Growth in Latin American Countries: A Panel Data Approach, Fondazione Eni Enrico Mattei Working Paper Series, NOTA DI LAVORO (2004).

[15] J.G. Brida, N.A. Risso, The tourism as determinant of the economic growth in South Tyrol, (2009) Retrieved available on: www. com/abstract.

[16] K. Dhungel, An Econometric Analysis on the Relationship between Tourism and Economic Growth: Empirical Evidence from Nepal, International Journal of Econometrics and Financial Management 3: 2 (2015) 84- 90.

[17] M, Lashkarizadeh, Z. Keshmir, H.P. Gashti, R.B. Shahrivar, Eveluation of the Relationship between Tourism Industry and Economic Growth in Iran", Asian Journal of Business and Management Sciences, 1: 9 (2010) 88-97.

[18] M. Kirishan, Time – Series Evidence for Tourism – led Growth Hypothesis: A case study of Jhordan", International Management Review 46: 4 (2011) 985-995.

[19] N. Kurukulasooriya, E.I. Lelwala, Short – Term Forecasting of International Tourist Arrivals to Sri Lanka: Comparative Evidence Using Exponential Smoothers. The 6th International Research Conference on Management and Finance Colombo: Faculty of Management, University of Colombo (2011).

[20] O.I. Kareem, A reassessment of Tourism – Exports Let Growth Hypothesis in Africa, American Journal of Tourism Research, 2: 1 (2013) 130- 140.

[21] P.M. B Jayathilaka, Tourism and Economic Growth in Sri Lanka: Evidence From Cointegration and Causality Analysis, International Journal of Business, Economics and Law, 2: 2 (2013) 22-27.

[22] R. Ranasinghe, R. Deyshappriya, Analyzing the Significance of Tourism on Sri Lankan economy, (2012) available on www. kln. ac. lk/fcms/ICBI2012/image/ ICBM/dccs/TRM001. pdf.

[23] S. Khalil, M.K. Kakar, Waliullah, Role of Tourism in Economic Growth: Empirical Evidence from Pakistan Economy", The Pakistan Development Review 46: 4 (2007) 985- 995.

[24] S.K. Yazdi, N. Mastorakis, Tourism Development and Economic Growth in Iran: Using ARDL Bound tests, Advance in Economics, Law and Political Sciences, (2012) 172-180.

Show More Hide

Cited By:

This article has no citations.