Empirics of Tourism-Led Growth in India, 1995 to 2016
Empirics of Tourism-Led Growth in India, 1995 to 2016
Author(s): Himanshu B. ROUT, P. K. Mishra, B. B. PRADHANSubject(s): Economy, Tourism
Published by: ASERS Publishing
Keywords: tourism; economic growth; panel estimation; India;
Summary/Abstract: In the globalized world, the travel and tourism have been considered crucial for achieving inclusive growth, especially in less developed economies. It has been increasingly recognised as a good contributor to national income and employment. So it can be used an instrument for achieving a higher rate of economic growth of a country in the long-run. In this line of argument, this paper examined the causal relationship between tourism and economic growth in the context of Indian States/UTs in a panel data framework. The empirical findings support the tourism-led growth hypothesis in the long-run and growth-led tourism hypothesis in the short-run. Thus, the policy choice is to make the tourism instrumental, through its promotional strategies, for the inclusive and sustainable development of India.
Journal: Journal of Environmental Management and Tourism (JEMT)
- Issue Year: IX/2018
- Issue No: 06 (30)
- Page Range: 1190-1201
- Page Count: 11
- Language: English
- Content File-PDF