The impacts of tourism on economic growth and development: the case of the main Colombian destinations
DOI:
https://doi.org/10.25145/j.pasos.2011.09.026Keywords:
Economic growth, Tourism earnings, Johansen cointegration test, Vector Error Correction, ColombiaAbstract
This paper analyses the effects of tourism on the economic growth and development, focusing on the main tourism regions of Colombia: Antioquia, Bolivar, Bogotá, Magdalena and San Andrés-Providencia of Colombia. For the analysis, the study uses annual data from 1990 to 2006. Firstly, the work presents a quantitative exercise describing the evolution of the participation of the tourism sector in the different regions and its contribution to economic growth. The analysis shows an increasing participation of tourism in the economic growth of each region during the periods 1990-1999 and 2003-2006 and a decresing in the intermediate period. Secondly, the study uses cointegra- tion analysis to evaluate the existence of VEC among real GDP per capita, tourism expenditures and real exchange rates. We show that the causality relationship is positive and unidirectional for all the regions but the values of elasticities are considerable different. This implies that a change in tourism expenditure will produce different effects on the economic growth of the regions.
Downloads
References
Balaguer, J. y Cantavella-Jordà, M. 2002 “Tourism as a long-run economic growth factor:
the Spanish case”. Applied Economics, 34, 877-884.
Banco de la República. 2006 Informe de Coyuntura Económica Regional Depar- tamento de San Andrés Islas [En línea]. Disponible en <http://www.banrep.gov.co/documentos/publica- ciones/regional/ICER/san_andres/2006_2.pdf> Con- sultado el 10 de febrero de 2010.
Brida, J.G., Risso, W.A., Zapata-Aguirre, S., Pereyra, J.S. y Such Devesa, M.J. 2009A “Tourism and economic growth: an empirical analysis for the case of Colombia”. TOURISMOS: An International Multidisciplinary Journal of Tourism, 4 (2).
Brida, J.G., Risso, W.A., Zapata-Aguirre, S., Pereyra, J.S. y Such Devesa, M.J. 2009B “Turismo y crecimiento económico: un análisis empírico de Colombia”. Estudios y Perspectivas en Turismo, 18 (1): 21-35.
Brida, J.G., Such, M.J. y Pereira, J.S. 2008 “Evaluating the contribution of tourism in econo- mic growth”. Anatolia: an International Journal of Tourism and Hospitality Research, 19(2): 351-356.
Brida, J.G., Zapata-Aguirre, S., Pereyra, J.S. y Such Devesa, M.J. 2008B “La contribución del turismo al crecimiento eco- nómico: el caso de España, Francia, Italia, Reino Unido y Estados Unidos”. Cuadernos de Turismo, 22, 35-46.
Brida, J.G., Carrera, E., y Risso, W.A. 2008C “Tourism’s Impact on Long-run Mexican Economic Growth”. Economics Bulletin, 3, (7):1-10.
Brida, J.G., Lanzilotta, B., Risso, W.A. 2008D “Turismo y crecimiento económico: el caso de Uruguay”. PASOS: Revista de Turismo y Patrimonio Cultural, 6 (3): 481-492
Capó, J., Riera, A. y Rosselló, J. 2007 “Tourism and long-term growth a Spanish pers- pective”. Annals of Tourism Research, 34(3):709-726.
Capó, J., Riera, A. y Rosselló, J. 2006 “Specialising in Tourism and Long-Term Growth”. Documents de Treball CRE, 3, 1-21.
Dolando, J.J., Jenkinson, T y Sosvilla, Rivero, S. 1990 “Cointegration and Unit Roots”. Journal of Econo- mic Surveys, 4 (3): 249-273.
Dritsakis, N. 2004 “Tourism as a long-run economic growth factor: an empirical investigation for Greece using causality analysis”. Tourism Economics, 10(3):305-316.
Durbarry, R. 2004 “Tourism and economic growth: The case of Mauri- tius”. Tourism Economics, 10, 389–401.
Engle, R. y Granger, C. 1987 “Co-integration and error correction: representa- tion, estimation and testing”. Econometrica, 55, 251-276.
Eugenio-Martin, J. L., N. M. Morales, y Scarpa, R. 2004 “Tourism and Economic Growth in Latin Ameri- can Countries: A Panel Data Approach”. Fondazione Eni Enrico Mattei Working Paper Series, Nota di Lavoro 26.
Figuerola, M. 2005 “Turismo y desarrollo regional: Hacia una pers- pectiva multidisciplinaria”. Trabajo presentado en el VII CONGRESO NACIONAL DE INVESTIGACIÓN TURISTICA. Universidad de Guadalajara. México. Disponible en <http://www.sectur.gob.mx/work/si- tes/sectur/resources/LocalContent/13580/3/Presen- tacion_ManuelF.pdf>. Consultado el 18 de noviem- bre de 2009.
Gardella, R. y Aguayo, E. 2002 “Impacto Economico del Turismo en el Mercosur y Chile”. Estudios Economicos de Desarrollo Interna- cional. AEEADE. 2 (1).
Granger, C. 1988 “Some recent developments in a concept of causality”. Journal of Econometrics, 39, 199-211.
Gobernación de Antioquia.
Plan de Desarrollo Antioquia 2008-2011. Disponible en <http://www.antioquia.gov.co/documentos/plandede- sarrollo4.pdf> Consultado el 10 de febrero de 2010.
Ivanov, S. y Webster, C. 2007 “Measuring the impacts of tourism on economic growth”. Tourism Economics, 13(3): 379-388.
Johansen, S. 1988 “Statistical Analysis of Cointegration Vectors”. Journal of Economic Dynamics and Control, 12, 231-254.
Johansen, S. y Juselius, K. 1990 “Maximum likelihood estimation and inference on cointegration with applications to the demand for money”. Oxford Bulletin of Economics and Statistics, 52,169-210.
Johansen, S. 1995 Likelihood-based inference in cointegrated vector autorregressive models. Oxford University Press, Oxford.
Kim, H. J., Chen, M. y Jan, S. 2006 “Tourism expansion and economic development: The case of Taiwan”. Tourism Management, 27(5):925-933.
Meyer, D. 2004 Economía turística en América Latina y el Cari- be. Bogotá: Ed. Universidad Externado de Colombia, Facultad de Administración de Empresas Turísticas y Hoteleras.
Noriko, I y Mototsugu, F. 2007 “Impacts of tourism and fiscal expenditure to re- mote islands: the case of the Amami islands in Japan”. Applied Economics Letter, 14, 661-666.
Organización Mundial del Turismo OMT 2009 Noticias OMT. Año XXIII. Número 2.
Pérez, G. 2005 “Bolívar: industrial, agropecuario y turístico”. Centro de Estudios Económicos Regionales (CEER) de Cartagena. Banco de la República. N°58, Julio.
Quintero P., Bernal C. y López H. 2005 “La competitividad turística de Cartagena de In- dias: Análisis del destino y posicionamiento en el mercado”. Serie de Estudios de Competitividad de Cartagena, Nº4, Cámara de Comercio de Cartagena, Observatorio del Caribe Colombiano y Colciencias, Cartagena de Indias.
Secretaría distrital de Planeación. 2007 Síntesis de coyuntura. Dirección de Políticas Sec- toriales. N°11, Bogotá Disponible en http://www.sdp. gov.co/www/resources/No_11_comercio.pdf. Consul-
tado el 24 de noviembre de 2009.
Downloads
Published
How to Cite
Issue
Section
License
I confirm that the work is original (of my/our authorship), and that it will not be submitted to other journals or publications until the final resolution of the review process in PASOS, RTPC.
I authorize the publication of my work by PASOS, PSTN of free and open access in any of the formats that I deem appropriate, for an indefinite period of time and as a non-remunerated collaboration.
Likewise, the author(s) understands that the published work may be linked or deposited on any server or included in other publications (republication), provided that the new place and/or new edition references the original publication and acknowledges the authorship and copyright ownership of PASOS RTPC publications.
Authors understand that a plagiarism-self-plagiarism check will be performed, and the article may be removed at any time from the editorial flow.
