The Effects of Tourism on Economic Growth in Hong Kong
Author:
- 4 February 2011
- journal article
- research article
- Published by SAGE Publications in Cornell Hospitality Quarterly
- Vol. 52 (3) , 333-340
Abstract
An analysis of a five-variable vector autoregressive (VAR) model demonstrates the positive short-run effect of tourism on Hong Kong’s economic growth. The five variables are real output, real capital, labor, openness, and tourism. Among other findings, the analysis supports the commonly held notion that tourism promotes economic growth. However, the analysis could not confirm a long-term effect of tourism on economic growth. The analysis also shows that Hong Kong’s economy is capital-driven, while labor is not a significant economic driver.Keywords
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