Relationship between financial development and inbound tourism: A revisit


Al-mulali, Usama and Solarin, Sakiru Adebola and Gholipour, Hassan F. (2021) Relationship between financial development and inbound tourism: A revisit. Journal of Public Affairs, 21 (3). pp. 1-5. ISSN 1472-3891

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In this study, we use a more accurate and comprehensive indicator of financial devel-opment to examine the link between financial development and tourist arrivals andexpenditures in the top 20 tourist destination countries over the period of 1995–2017. By applying the panel augmented mean group method and controlling forother determinants of tourist arrivals, the overall results revealed that financial devel-opment positively influences tourism development. On the contrary, economicgrowth and countries price levels have no significant effects on tourism develop-ment. At the country level results; financial development has positive effects on tour-ism development in most countries. However, gross domestic product growth andconsumer price index have a significant in few countries only. Therefore, the out-come of this study reveals that that visitors do not consider the development and theprice level of the country but rather the facilities available including the facilities inthe financial structures

Item Type: Article
Uncontrolled Keywords: Business enterprises—Finance
Subjects: H Social Sciences > HG Finance > HG4001-4285 Finance management. Business finance.
Divisions: Faculty of Business (FOB)
Depositing User: Ms Rosnani Abd Wahab
Date Deposited: 20 Dec 2020 14:00
Last Modified: 28 Sep 2021 04:24


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