گسترش گردشگری و توسعه اقتصادی: مورد تایوان

This study examines the causal relationship between tourism expansion and economic development in Taiwan. A Granger causality test is performed following the cointegration approach to reveal the direction of causality between economic growth and tourism expansion. Test results indicate a long-run equilibrium relationship and further a bi-directional causality between the two factors. In other words, in Taiwan, tourism and economic development reinforce each other. A discussion follows and managerial implications are identified based on the empirical findings.

Despite the poor global economic performance and the terrorist attacks on September 11, 2001 in the US, the number of international tourists traveling worldwide reached 715 million in 2002, an increase of 21 million from 2001 for an annual growth of 3.1 percent (World Tourism Organization, 2002). Global tourism receipts were 475.8 billion in US dollars (US$) for 2000 and 462 billion US$ for 2001. Tourist spending, as an alternative form of exports, can contribute to the balance of payments through foreign exchange earnings and proceeds generated from tourism expansion and can represent a significant income source for a national economy (Balaguer & Cantavella–Jorda, 2002). Foreign exchange earnings from tourism can also be used to import capital goods to produce goods and services, which in turn leads to economic growth (McKinnon, 1964). Other economic benefits derived from tourism activity include tax revenues, employments and additional sources of income (Archer, 1995; Belisle & Hoy, 1980; Davis, Allen, & Consenza, 1988; Durbarry, 2002; Khan, Seng, & Cheong, 1990; Uysal & Gitelson, 1994; West, 1993). It is generally assumed that tourism expansion should have a positive contribution to economic growth.

There is a vast amount of research on the economic impact of tourism activity in the tourism literature. Major economic benefits derived from tourism activity include foreign exchange earnings, employments, and income (Archer, 1995; Belisle & Hoy, 1980; Davis et al., 1988; Durbarry, 2002; Khan et al., 1990; Mill & Morrison, 2002; Uysal & Gitelson, 1994; West, 1993). The results of previous studies seem to be based on the assumption that tourism activity will affect the local or national economy positively. Despite the belief in tourism-led economic development, not many studies have empirically investigated a causal relationship between tourism and economic growth. Oh (2005) argued that it is necessary to investigate the hypothesis in numerous destination countries for the purpose of generalization. This study was conducted to contribute to the body of literature in respect to Taiwan.