Econometric Assessment of the Macroeconomic Contributions of Tourism in Republic of Srpska
Econometric Assessment of the Macroeconomic Contributions of Tourism in Republic of Srpska

Summary/Abstract: This paper provides an econometric assessment of the macroeconomic contributions of tourism in Republic of Srpska. The analysis is based on the Tourism-Led Economic Growth (TLEG) hypothesis and examines the elasticity of gross value added in the services and agriculture sectors in relation to tourist arrivals, as well as the long-term relationship between tourism and GDP growth. The results suggest that tourism positively influences economic development, particularly through its effects on service-oriented and agricultural activities. Despite the limitations in the availability and reliability of official data, the findings support the recognition of tourism as a strategic sector. The paper highlights the need for improved statistical infrastructure, greater investment and the strategic development of the tourism sector to enhance its growth and competitiveness potential.

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