The Relationship between International Tourism and Economic Growth: The Case of Singapore

• Main Authors: Ming-Der Pu, 蒲明德
• Other Authors: Pao-Yuan Chen
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/vkub69

碩士 === 南華大學 === 文化創意事業管理學系休閒產業碩士班 === 104 === 　　The tourism industry has been growing rapidly since the late 〖19〗^th century. It has become a highly competitive market which has surpassed the automobile industry and petrochemical industry. Tourism is also called the 〝non-smokestack industry〞. The connection made between tourism and economic growth has been controversial as many do not regard the comparison as properly made. But whether tourism can play or does play an important role depends on its link to economic growth; economic growth often has a range of factors involved and tourism can be one of those factors and sometimes a very important contributing factor. The main focus of this study is Singapore and statistical data from 1980 through 2014 has been used for analysis. The study has two main parts: the first analyses and comments on whether international tourism visitors and international tourism revenue have influenced World GDP (Gross Domestic Product); the second considers whether tourism development promotes economic growth. The study has two main parts: the first analyses and comments on whether international tourism visitors and international tourism revenue have influenced World GDP (Gross Domestic Product) is based on Meurer (2010) tourism demand function as framework; the second considers whether tourism development promotes economic growth is derived from Brida, Lanzilotta, Lionetti and Risso (2010) empirical model of architecture. 　　The variables in this study were exchange rates, the number of international tourists, the international tourism revenue, World GDP and Singapore’s GDP. The data on international tourism revenue and the number of tourists was obtained from Statistics Singapore, the data on the World GDP, Singapore’s GDP, consumer price index and exchange rate was obtained from the IMF World Economic Outlook (WEO) database. The ADF unit root test, co-integration test and error correction model were all used in this study. Use of the ADF unit root test revealed that the variables were unstable. The results from the co-integration test indicated that the relationship between the variables showed that the long-term equilibrium relationship existed. 　　The results of this study merited three conclusions: 1. that World GDP and real exchange rates did not have an effect on the numbers who traveled to Singapore. 2. that World GDP and real exchange rates did not have an effect on the international tourism revenue resulting from tourists traveling to Singapore and 3. that international tourism revenue does have a positive impact on Singapore’s economic growth.