Quarterly Journal of The Macro and Strategic Policies

Quarterly Journal of The Macro and Strategic Policies

The effects of the tourism industry on oil revenue in order to realize the general policies of the resistance economy

Document Type : Research/Original/Regular Article

Authors
Basem Abbas 1
Davood Daneshjafari 2
Mohammad Mahdi Mojahedi 3
Teimour Mohammadi 4
1 Doctoral student in economics and development, Faculty of Economics, Allameh Tabatabai University, Tehran, Iran
2 Professor, Department of Economics, Faculty of Economics, Allameh Tabatabai University, Tehran, Iran
3 Department of Business Economics, Faculty of Economics, Allameh Tabatabai University, Tehran, Iran.
4 Theoretical Economics Department, Faculty of Economics, Allameh Tabatabai University, Tehran, Iran.
10.30507/jmsp.2023.385857.2551
Abstract
Today, the role of the tourism industry in economic development, both in developed countries and developing countries, is considered accepted.The growth of the tourism industry in developing countries was seen as a promising potential way to achieve economic and human growth.Tourism directly affects the economic development of countries. For example, with the arrival of tourists and the increase in their spending in the host country, it will increase its national income.In addition to the above in Iran, general economic policies of resilience have been formed with the aim of providing dynamic growth and improving economic resilience indicators and achieving the goals of the 20-year vision document with a global approach that the development of the tourism industry leads to achieving the goals of general economic policies. It will be resistant and increase the country's income.



Considering the importance of the topic, this article deals with the relationship between tourism, economic growth and oil revenues in the oil-rich countries of the Persian Gulf (Iran, Qatar, UAE, Iraq, Oman, Saudi Arabia, Kuwait and Bahrain). In addition, replacing oil revenues with tourism revenues is another goal of this research. The results of this research show that if the tourism industry in these countries increases by 1 unit (percent), their oil income will increase by 021/0(1/2percent), which is not a significant number. In the Persian Gulf region, tourism has a positive effect on income (production) and if one unit (percentage) of tourism increases, the country's income will increase by 0/334 units (33.4percent).
Keywords
Tourism
economic growth
panel data
oil revenue

Subjects

Abdul, Tahir Mahmood & Muhammad Idrees (2020). Tourism–growth nexus in Pakistan:Evidence from ARDL bounds tests. Economic Modelling 35 (2020) 185–191
Bianchi, R. (2018). The political economy of tourism development: A critical review. Annals of Tourism Research, (70), 88-102.
Butcher, G.; Fairweather, J. R. & Simmons, D. G. (2003). The Economic Impact of Tourism on Christchurchcity and Akaroa Township. Journal of Economic Dynamics and Control, (11), 211-200.
Chor FoonTang and Salah Abosedra. (2022). The impacts of tourism, energy consumption and political instability on economic growth in the MENA countries. Energy Policy, 68(2014), 458–464.
Eugenio-Martin, J. L. & Morales, N. M. (2004). Tourism and Economic Growth in Latin American Countries: A Panel Data Approach. Tourism Management 21, 59–64.
Figini, P. & Vici, L. (2010). Tourism and Growth in Across Section of Countries. Tourism Economics, 16(4), 789–805.
Ketter, E. (2019). Eating with EatWith: analysing tourism-sharing economy consumers. Current Issues in Tourism, 22(9), 1062-1075.
Kim, H. J.; Chen, M. H. & Jang, S. C. (2006). Tourism Expansion and Economic Development: The Case of Taiwan. Tourism Management, 27(5), 925–933.
Kreishan, Fuad M.M. (2010). Tourism and Economic Growth: The Case of Jordan. European Journal of Social Sciences, 15(2).
Loureiro, S. M. C. (2014). The role of the rural tourism experience economy in place attachment and behavioral intentions. International Journal of Hospitality Management, (40).
Marin, D. (1992). Is the Export-Led Hyphothesis Valid For Industrialized Countries? Review of Economics and Statistics, (74).
Rampal, O. (2017). The Relationship between Tourism, Financial Development and Economic Growth in India: Future Business Journal, 3(1), 9-22.
Shahbaz, M.; Kuma, R. R.; Ivanov, S. & Loganathan, N. (2016). The Nexus between Tourism Demand and Output Per Capita, with There lative Importance of Trade Openness and Financial Development: A study of Malaysia. Tourism Economics, 1–19.
Song, H. & Lin, S. (2010). Impacts of the Financial and Economic Crisis on Tourism in Asia. Journal of Travel Research, 49(1), 16–30.
Stacherzak, A. & Hełdak, M. (2019). Borough development dependent on agricultural, tourism, and economy levels. Sustainability, 11(2), 415.
Zortuk, M. (2009). Economic Impact of Tourism on Turkey’s Economy: Evidence from Cointegration Tests. International Research Journal of Finance and Economics.
 
Quarterly Journal of The Macro and Strategic Policies
Volume 11, Issue 44
Winter 2023
Pages 717-742

  • Receive Date 24 February 2023
  • Revise Date 16 April 2023
  • Accept Date 06 May 2023