Role of Tourism in Economic Growth: Empirical Evidence from Pakistan Economy

By S. Khalil, M. Kakar. 2007

201 citations recorded by the source corpus.

Tourism activities are considered to be one of the major sources of economic growth. It can be regarded as a mechanism of generating the employment as well as income in both formal and informal sectors. Tourism supplements the foreign exchange earnings derived from trade in commodities and some times finance the import of capital goods necessary for the growth of manufacturing sectors in the economy. On the other hand rapid economic growth in the developed economies attracts foreign travels (Business travels), which leads to an increase in the foreign reserve of the country. Over the past several decades, international tourism has been gaining importance in many economies of the world. According to the World Tourism Organisation (2002), expenditures by 693 million international tourists traveling in 2001 totaled US $ 462 billion, roughly US $ 1.3 billion per day worldwide. In addition, tourists spending have served as an alternative form of exports, contributing to an ameliorated balance of payments through foreign exchange earnings in many countries. The rapid growth of tourism led to a growth of household incomes and government revenues directly and indirectly by means of multiplier effects, improving balance of payments and provoking tourism-promoted government policies. As a result, the development of tourism has generally been considered a positive contribution to economic growth.

Subfields: Renewable Energy, Sustainability and the Environment, Sociology and Political Science

View Paper: https://www.semanticscholar.org/paper/8b1b5024a3e35b48d6d83205421ece396ced0624

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Citations in the corpus

Tourism and Development in Developing Economies: A Policy Implication Perspective (2020, background): “For instance, Khalil, Kakar [2], in a bivariate analysis, found that tourism caused economic growth in Pakistan in the short run.”
New insights into an old issue – examining the influence of tourism on economic growth: evidence from selected small island developing states (2019, background): “…al. (2017), and other related studies in tourism-growth literature such as Sinclair (1998), Balaguer and CantavellaJorda (2002), Dritsakis (2004), Khalil, Kakar, and Malik (2007), Lee and Chang (2008b), Ayres (2000), and Lee and Brahmasrene (2013) the study employed a panelbased multivariate…”
The Effects of Tourism on Economic Growth and CO2 Emissions: A Comparison between Developed and Developing Economies (2017, background): “A good number of studies support the feedback relationship such as Dristikis (2004) for Greece, Kim et al. (2006) for Taiwan, Khalil et al. (2007) for Pakistan, Lee and Chang (2008) for both the OECD and non-OECD countries, Chen and Chiou-Wei (2009) for Korea, and Ridderstaat et al. (2014, 2016)…”
Has the tourism-led growth hypothesis been validated? A literature review (2016, background): “Furthermore, a bi-directional Granger causality (i.e. tourism Granger-causes growth and vice versa) is assessed for the following destinations: Australia (Corrie, Stoeckl, & Chaiechi, 2013), Jamaica (Ahamefule, 2012; Amaghionyeodiwe, 2012; Ghartey, 2013), Aruba (Ridderstaat et al., 2013), Barbados (”
Pakistan tourism industry and challenges: a review (2018, background): “The government should also assure the safety and security of tourists (foreign and domestic) and establish sustainable tourism policies for stable tourism in the country (Khalil et al., 2007).”