Heritage tourism and economic growth of the twenty most visited nations: a panel data analysis, 2006-2017
Abstract
In this paper we analyse the relationship between cultural heritage (UNESCO), tourism and economic growth in the twenty most visited countries in the world during the period 2006-2017. To obtain the results we used the panel data methodology for econometric analysis, performing unit root tests, dependency analysis and causality tests. The results show that there is a dependence relationship between the number of cultural heritages that the countries have with the number of visits they receive and a causal relationship from the first variable to the second variable, as well as a relation of dependence and causality from the tourist activity to the countries’ economic growth. It is concluded that the number of cultural heritages(UNESCO) has a direct impact on the number of visits received by the countries, and that there is a positive indirect relationship with their economic growth, so that the more heritages a nation has, in the medium term its growth will increase.
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