THE IMPACT OF TOURISM REVENUES ON ECONOMIC DEVELOPMENT: AN EMPIRICAL ANALYSIS OF CENTRAL ASIAN COUNTRIES.
DOI:
https://doi.org/10.5281/zenodo.15038663Keywords:
Tourism, tourism revenues, GDP, economic growth, GLS, robust standard errors regression, empirical analysis.Abstract
This research examines the empirical relationship between tourism revenues and economic growth rates. To carry out this study, data on the share of tourism revenues in GDP and GDP growth rates for Central Asian countries from 2000 to 2021 were obtained from the World Bank database. Due to the heteroscedasticity problem in the GLS regression, the regression with robust standard errors was used. The results showed a strong positive relationship between the two indicators, specifically that a 1% change in tourism revenues corresponds to a 0.5% change in GDP growth.
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