Description
Title: Tourism’s Contribution to Economic Growth: Saudi Arabia’s Empirical Data
Abstract: The success of many economies around the world depends on tourism, which has been the subject of extensive research for many years. Unfortunately, not enough research has been done on this topic in the context of Saudi Arabia. Therefore, using annual time series data from 2003 to 2019, this study examines how tourism influences economic growth in the Kingdom of Saudi Arabia. The relationship between tourism and economic growth is examined using fundamental statistics, correlation coefficients, the unit root test, the Johansen co-integration test, the co-integration regression test, and the Granger causality test. The findings indicate that economic growth has a long-term relationship with tourism receipts, tourism expenditures, and the number of visitors; compared to other parameters, the number of visitors has a strong relationship with economic growth. The empirical findings support the idea that tourism encourages economic growth in the Saudi Arabian kingdom.
Keywords: tourism; economic growth; Saudi Arabia
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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