Causality between Capital Investment in the Tourism Sector and Tourist Arrivals in ASEAN
Causality between Capital Investment in the Tourism Sector and Tourist Arrivals in ASEAN
Author(s): Sakkarin NonthapotSubject(s): Economy, Tourism
Published by: ASERS Publishing
Keywords: tourist arrivals; panel Granger Causality; panel Co-integration; ASEAN Tourism;
Summary/Abstract: This study investigates the causal relationship between capital investment in the tourism sector and international tourist arrivals to ASEAN countries. The study employs panel data which includes annual data from 10 countries over the period 1995 to 2016. The results reveal that between capital investment in the tourism sector and international tourist arrivals there is bidirectional long-run causality. ASEAN countries should increase the budget for the supporting tourism investment continuously and should target tourism promotion as an entire region.to attract international tourists to visit ASEAN and to encourage the expansion of tourism revenue.
Journal: Journal of Advanced Research in Law and Economics (JARLE)
- Issue Year: VIII/2017
- Issue No: 30
- Page Range: 2504-2511
- Page Count: 8
- Language: English
- Content File-PDF