Estudios y perspectivas en turismo
versión On-line ISSN 1851-1732
SUCH DEVESA, María Jesús et al. Tourism and Economic Growth: An Empirical Analysis of the Colombian Case. Estud. perspect. tur. [online]. 2009, vol.18, n.1, pp. 21-35. ISSN 1851-1732.
This paper presents, at first, the contribution of tourism to the economic growth or Colombia. Secondly, an analysis of the tourist expenditure in Colombia is made, by using quarterly data and the Johansen cointegration test. Empirical evidence suggesting the existence of one cointegrated vector among real per capita GDP, Colombian tourism expenditure and real exchange rate, where the latter two variables are weakly exogenous to the model is shown. The Granger causality test suggests causality that positively generates in one way from tourism expenditure to real GDP per capita.
Palabras clave : Tourism impacts; Economic growth; GDP; Cointegration test; Causality test.