|
on Tourism Economics |
| By: | Asongu, Simplice; Rahman, Mushfiqur; Okeke, Okeoma; Munna, Afzal |
| Abstract: | The study provides insights into how tourism can be managed to improve financial access in sub-Saharan Africa. The empirical evidence is based on the generalised method of moments. To make this assessment, inequality dynamics (i.e. the Gini coefficient, the Atkinson index and Palma ratio) are interacted with tourism (tourism receipts and tourists’ arrivals) to establish inequality levels that should not be exceeded in order for tourism to promote financial access in the sampled countries. From the findings, inequality levels that should not be exceeded for tourism to promote financial access are provided: (i) 0.666 of the Atkinson index and 5.000 of the Palma ratio for tourism receipts to promote financial access and (ii) for tourist arrivals to enhance financial access, 0.586, 0.721 and 6.597 respectively, of the Gini coefficient, the Atkinson index, and the Palma ratio. Policy implications are discussed. |
| Keywords: | Tourism; Management; Financial access; Inequality; Africa; Sustainable Development |
| JEL: | O10 O40 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:111561&r= |
| By: | Samuel Nocito (Luiss University); Marcello Sartarelli (Universidad Complutense de Madrid and ICAE); Francesco Sobbrio (University of Rome Tor Vergata & CESifo) |
| Abstract: | Tourism accounts for around one tenth of global GDP.We analyze the impact of entertainment media in drawing tourists to filming municipalities (media multiplier ) and, in turn, the effect of tourism on local economic development (tourism multiplier ). To quantify the media multiplier, we employ a triple-difference empirical strategy exploiting the staggered international release across the EU of Inspector Montalbano, a TV series set in four municipalities of Sicily, a region of Italy. We find that the series release led to a fourfold increase in the number of tourists and boosted tourist expenditure by a factor of 2.5. Furthermore, we provide evidence of positive spillovers in nearby municipalities. To estimate the tourism multiplier, we exploit the interaction between the filming locations and the time-varying share of countries in which the series was aired, to instrument total tourist expenditure at the municipality-time level. Our results show that a 10% increase in total tourist expenditure translates into an increase in municipal income of 4.7%. The paper suggests that both entertainment media and tourism can be effective tools to boost local economic development. |
| Keywords: | Economic Development, Media, Spillovers, Tourism |
| JEL: | L83 O12 R10 Z32 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:saq:wpaper:2/22&r= |