Tourism and regional growth in Europe
|Title||Tourism and regional growth in Europe|
|Publication Type||Working Paper|
|Year of Publication||2012|
|Authors||R. Paci, E. Marrocu|
|Keywords||europe, regional economic growth, spatial dependence, tourism flows|
The paper analyzes the impact of domestic and international tourism on the economic growth process for 179 European regions. The econometric analysis is based on a spatial growth regression framework where the rate of GDP per capita growth at the regional level for the period 1999-2009 is influenced by tourism flows, in addition to the traditional growth variables. Besides controlling for initial conditions, we also include a wide set of covariates to account for the endowment of human and technological capital and for the geographical, social and institutional features of the regions. The results, confirmed by several robustness checks, demonstrate that regional growth is positively affected by domestic and international tourism.