6th International Thematic Monograph – Modern Management Tools and Economy of Tourism Sector in Present Era

Is the Tourism-Led Growth Hypothesis Valid for Višegrad Group Countries?
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Vera Mirović    –  Faculty of Economics in Subotica, University of Novi Sad, Segedinski put 9-11, Subotica, Serbia
Branimir Kalaš    –   Faculty of Economics in Subotica, University of Novi Sad, Segedinski put 9-11, Subotica, Serbia
Nataša Pavlović    –   High Business School Novi Sad, Vladimira Perića – Valtera 4, 21000 Novi Sad, Serbia​
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DOI:   https://doi.org/10.31410/tmt.2021-2022.35
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6th International Thematic Monograph –   Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade, 2021/2022,   Published by:  Association of Economists and Managers of the Balkans in cooperation with the Faculty of Tourism and Hospitality, Ohrid, North Macedonia;   ISSN 2683-5673,  ISBN    978-86-80194-49-3;  Editors:  Vuk Bevanda, associate professor, Faculty of Social Sciences, Belgrade, Serbia;   Snežana Štetić, full time professor, The College of Tourism, Belgrade, Serbia,   Printed by:  SKRIPTA International, Belgrade  
Abstract:   The tourism sector represents one of the most essential seg­ments of the world economy. This paper aims to identify the effects of tour­ism indicators on economic growth in terms of tourism share, international tourism arrivals and tourism employment. The subject of the paper is eval­uating the impact of the tourism sector on economic growth in selected Višegrad group countries (Czechia, Hungary, Poland and Slovakia) for the period 2008-2018. The empirical findings show that the tourism sector has a significant and positive effect on economic growth in these countries for the observed period. The results of the panel fixed effects model reflect that governments in Višegrad group countries should increase the tourism sec­tor share in their economies in order to enable positive and lucrative impli­cations for economic development

Keywords:   Tourism; Economic growth; Panel data estimation; Višegrad group

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