The Relationship between Tourism and Economic Growth: OECD Countries

Abstract

In the present study, the long-term relationship between tourism revenues and economic growth between the years 1997 and 2012 was analyzed for 34 OECD countries using panel cointegration tests. Pedroni and Kao cointegration tests were used for this purpose. Based on the results of the panel cointegration analyses, it was found that the increase of tourism revenues had a positive effect on economic growth in the long term.