Estimating International Tourism Indicators in Context of Macroeconomic Stability and Fiscal Sustainability in the Republic of Serbia
Estimating International Tourism Indicators in Context of Macroeconomic Stability and Fiscal Sustainability in the Republic of Serbia

Author(s): Vesna Mirović, Nataša Pavlović, Branimir Kalaš
Subject(s): Economy, Tourism
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Tourism; Macroeconomic stability; Fiscal sustainability; Modelling; Republic of Serbia
Summary/Abstract: The importance of the tourism sector is manifested in the fact that this sector is one of the fastest-growing sectors worldwide. This research aims to determine the impact of tourism indicators on the macroeconomic and fiscal framework. The subject of the paper includes estimating the effect of international tourism arrivals and international tourism receipts on economic growth, unemployment and fiscal sustainability in the Republic of Serbia for the period 2002-2020. The obtained empirical results show that international tourism categories significantly improve macroeconomic stability and fiscal sustainability in the Republic of Serbia for the observed period. Based on the empirical findings, policymakers should focus on increasing international tourist arrivals as well as increasing international tourism receipts to provide positive implications for the economic development of our country.

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