THE IMPACT OF INTERNATIONAL TOURISM ON ENERGY CONSUMPTION: A PANEL STUDY OF THE WESTERN BALKANS AND THE EUROPEAN UNION
THE IMPACT OF INTERNATIONAL TOURISM ON ENERGY CONSUMPTION: A PANEL STUDY OF THE WESTERN BALKANS AND THE EUROPEAN UNION

Summary/Abstract: During the 21st century, international tourism has recorded a steady increase and a growing importance for the economic growth and development of many countries. Yet, tourism in general and international tourism in particular require a vast amount of energy for products and services that are needed to satisfy tourists` needs and wants. The purpose of this paper is to analyze the impact of international tourism on the final energy consumption in the Western Balkans and the European Union (EU) countries in the period from 2007 to 2017. The results of regression analysis indicate that the impact of the number of foreign tourists on final energy consumption depends on the level of international tourism development. Concurrently, the results indicate that population and GDP per capita have an important impact on the final energy consumption in the EU and the Western Balkans countries..

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