Contribution of tourism to economic development in selected European countries

The aim of the study is to explore the interplay between fundamental indicators related to tourism's contribution to economic development. These indicators encompass Total contribution to Employment, Direct contribution to Employment, Total contribution to GDP, Direct contribution to GDP, Capital Investment, and Visitor Exports - Foreign Spending. A cluster analysis of the 30 studied countries was formed based on the entropy results as a measure of equality. The research relies on data from the TTDI Index for the year 2019, as published by the World Economic Forum. The Kruskal-Wallis test highlighted the differences between the clusters. The entropy results support the the cluster analysis, as the coastal countries show the highest values of these indicators.The contribution of tourism to the European economy is imperative for countries to develop strategies for the exploitation of natural and cultural assets.The practical implications emphasize the need for greater investment and foreign spending.

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Publication Details

Journal
Bizinfo Blace
Published
2024-12-24
DOI
https://doi.org/10.5937/bizinfo2402083p
Citations
1
Primary Topic
Diverse Aspects of Tourism Research
Type
article
Field-Weighted Citation Impact
1.13

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article

Contribution of tourism to economic development in selected European countries

Sanja Pavlović, Kamelia Chaichi, Danijela Pantović
1 citations
Bizinfo Blace
Diverse Aspects of Tourism Research
1.13
article

Contribution of tourism to economic development in selected European countries

Sanja Pavlović, Kamelia Chaichi, Danijela Pantović
article en
1 citations

Abstract

The aim of the study is to explore the interplay between fundamental indicators related to tourism's contribution to economic development. These indicators encompass Total contribution to Employment, Direct contribution to Employment, Total contribution to GDP, Direct contribution to GDP, Capital Investment, and Visitor Exports - Foreign Spending. A cluster analysis of the 30 studied countries was formed based on the entropy results as a measure of equality. The research relies on data from the TTDI Index for the year 2019, as published by the World Economic Forum. The Kruskal-Wallis test highlighted the differences between the clusters. The entropy results support the the cluster analysis, as the coastal countries show the highest values of these indicators.The contribution of tourism to the European economy is imperative for countries to develop strategies for the exploitation of natural and cultural assets.The practical implications emphasize the need for greater investment and foreign spending.

Bizinfo BlaceVol. 15(2)
University of Kragujevac (RS), Queen Margaret University (GB), University of Belgrade (RS)
Ministarstvo Prosvete, Nauke i Tehnološkog Razvoja
Openalex Percentile: Top 14%
Diverse Aspects of Tourism Research
1.13
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