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BooksUNNECO 512

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International tourism and economic growth in Africa: A post-global  financial crisis analysis

ECO 512: INTERNATIONAL TOURISM AND ECONOMIC GROWTH IN AFRICA: A POST-GLOBAL FINANCIAL CRISIS ANALYSIS

ByAnthony Orji
SchoolUniversity of Nigeria, Nsukka
DepartmentEconomics
CategoryAcademic JournalsResearch Papers
Levels100200300500400600Post Graduate
₦ 3000
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Description

Unlike the extant literature, this study revisited the tourism-growth relationship in Africa and accounted for the

moderating effects of climatic factors, infrastructural development and political risk on this relationship. The

study used the system GMM technique, the panel Granger causality framework, and annual panel data of 41

African countries from 2009 to 2018. Contrary to the tourism-led growth hypothesis, we find that the role of

tourism as a driver of economic growth in Africa is predominantly negligible, which in turn suggests that Africa is

yet to exploit its tourism potentials to drive growth during the post-Global Financial Crisis period. The study

concludes that there is need for African leaders to coordinate policy efforts towards harnessing the tourism

potentials on the continent in order to diversify their economies, counter instability in global commodity mar-

kets, drive sustainable growth, and fight the twin evils of poverty and unemployment.