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Tourist spending and productivity of economy in OECD countries – research on perspectives of sustainable tourism

Author

Listed:
  • Beata Gavurova

    (Tomas Bata University in Zlín, Czech Republic)

  • Ladislav Suhanyi

    (University of Prešov, Slovakia)

  • Martin Rigelský

    (University of Prešov, Slovakia)

Abstract
Tourism represents the sector of services which is developing the most considerably and dynamically. However, its development is influenced by: trends in globalization, process of demographic aging, economic parameters, geographical conditions of a country, consumers, and other aspects. The following aspects contribute to its development: new destinations, markets, innovative activities in service sector, and also technological development. Tourism plays a significant economic role in a process of sustainable regional development, where it helps to develop low-growth regions. Monitoring and quantification of tourism outputs is a very complicated process. There also absents a quality database, which complicates a quantification of sector’s efficiency and a creation of national and international benchmarking indicators that inform of sustainable tourism level. These aspects demand a realization of multi-dimensional analyses, which would examine causal relations between tourism factors and economic parameters of a country. The study’s motivation was driven by all of the above-mentioned facts. It aims at researching an influence of tourism spending on OECD countries’ productivity. Consequently, it evaluates their potential of the sector’s sustainability. Multiple analytical procedures, which were determined by database availability, were performed in order to achieve the, research aim. The following analyses were performed besides the descriptive statistics: variance analysis of researched variables between individual years and OECD countries, context analysis, regression and cluster analyses. There were analysed 5 variables that characterize individual types of tourist spending: Business Tourism Spending, Domestic Tourism Spending, Leisure Tourism Spending, Outbound Travel & Tourism Expenditure , Visitor Exports (Foreign Spending) and one variable that characterizes productivity during 2010 – 2018 for all OECD countries. Spending variables were standardized per 1,000 inhabitants of a given country and productivity was measured by GDP per capita, while both groups of variables were provided in USD (fair value). The analyses’ results provided interesting findings. The regression models’ outputs confirmed an influence of tourist spending on a country’s productivity. All variables that indicate spending are significant. The cluster analysis’s results allowed a selection of countries into four groups. There is two huge clusters and other two clusters represent only one countries in specific cluster. Luxemburg and Iceland give us different values than countries in other clusters. The countries with higher rank are as follows: Australia (AUS), Austria (AUT), Belgium (BEL), Canada (CAN), Germany (DEU), Denmark (DNK), Finland (FIN), France (FRA), Unites Kingdom (GBR), Switzerland (CHE), Ireland (IRL), Italy (ITA), Netherland (NLD), Norway (NOR), New Zealand (NZL), Sweden (SWE), United States (USA), Island (ISL) and Luxembourg (LUX). On the other hand, the countries with lower rank are as follows: Czech Republic CZE, Spain (ESP), Estonia (EST), Greece (GRC), Hungary (HUN), Chile (CHL), Israel (ISR), Japan (JPN), Korea (KOR), Lithuania (LTU), Latvia (LVA), Mexico (MEX), Poland (POL), Portugal (PRT), Slovak Republic (SVK), Slovenia (SVN) and Turkey (TUR). These findings provide a space for a deeper research of effect between determinants of tourism development and economic indicators, while they enable to reveal a space for a growth of countries’ productivity that would provide a sustainability in tourism sector.

Suggested Citation

  • Beata Gavurova & Ladislav Suhanyi & Martin Rigelský, 2020. "Tourist spending and productivity of economy in OECD countries – research on perspectives of sustainable tourism," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(1), pages 983-1000, September.
    • Handle: RePEc:ssi:jouesi:v:8:y:2020:i:1:p:983-1000
    DOI: 10.9770/jesi.2020.8.1(66)
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    References listed on IDEAS

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    1. Han-Shen Chen & Bi-Kun Tsai & Gwo-Bao Liou & Chi-Ming Hsieh, 2018. "Efficiency Assessment of Inbound Tourist Service Using Data Envelopment Analysis," Sustainability, MDPI, vol. 10(6), pages 1-14, June.
    2. Dariush Khezrimotlagh & Yao Chen, 2018. "Data Envelopment Analysis," International Series in Operations Research & Management Science, in: Decision Making and Performance Evaluation Using Data Envelopment Analysis, chapter 0, pages 217-234, Springer.
    3. Robert Stefko & Stefan Nowak, 2014. "Cooperation Shrines Of Europe In Regional Management And Development," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 10(2), pages 209-215, December.
    4. Struyf, Anja & Hubert, Mia & Rousseeuw, Peter, 1997. "Clustering in an Object-Oriented Environment," Journal of Statistical Software, Foundation for Open Access Statistics, vol. 1(i04).
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    Cited by:

    1. Marina Sheresheva & Marina Efremova & Lilia Valitova & Anna Polukhina & Georgy Laptev, 2021. "Russian Tourism Enterprises’ Marketing Innovations to Meet the COVID-19 Challenges," Sustainability, MDPI, vol. 13(7), pages 1-17, March.
    2. Eduardo Leite & Luís Mota & Sérgio Lousada & Ana Leite, 2022. "Standardized Reading of Sustainable Tourism Indicators for Ultraperipheral Regions," Sustainability, MDPI, vol. 14(21), pages 1-15, October.
    3. Manuela Tvaronavičienė, 2023. "Towards Renewable Energy: Opportunities and Challenges," Energies, MDPI, vol. 16(5), pages 1-2, February.

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    More about this item

    Keywords

    tourist spending; sustainable tourism; sustainable development; productivity; expenditures; tourism; OECD;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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