Does the investment climate determine the transformation of tourism growth into economic development?
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[1] Universidad de Jaén
Universidad de Jaén
Jaén, España
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- Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 20, Nº. 4, 2014, págs. 669-694
- Idioma: inglés
- Texto completo no disponible (Saber más ...)
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Resumen
Currently, there are opposing views concerning the capacity of economic growth resulting from the expansion of tourism activity to influence an increase in the level of a country's economic development. In recent years a school of thought has been consolidating that there is no automatic relationship between the two, but that certain circumstances must occur in the structural foundations of a country for such a link to be made. The investment climate plays a decisive role in the economic development of a society. The aim of this paper is to identify, through a country-level empirical analysis, which specific factors related to the investment climate promote or hinder the transformation of tourism growth into an improvement of the living conditions of the population. The end result is that, in those countries with lower levels of development, the lack of an appropriate investment climate complicates this relationship (unlike in developed countries). Thus, continuing to invest in tourism in these countries without first solving the issues affecting the investment climate will lead to a failure of such investment.
