IDEAS home Printed from https://ideas.repec.org/a/gam/jecomi/v9y2021i3p131-d635517.html
   My bibliography  Save this article

Impact of Investment in Tourism Infrastructure Development on Attracting International Visitors: A Nonlinear Panel ARDL Approach Using Vietnam’s Data

Author

Listed:
  • Quang Hai Nguyen

    (Faculty of Business Administration, University of Econmics and Law, Ho Chi Minh City 71309, Vietnam
    Vietnam National University, Ho Chi Minh City 71309, Vietnam)

Abstract

Investment in tourism infrastructure development to make destinations and services increasingly attractive is considered a key measure in developing a country’s tourist destinations. This paper investigates the impact of investment in tourism infrastructure components on international visitor attraction using data from Vietnam for the period 1995–2019. The results of analyzing panel data by the nonlinear Autoregressive Distributed Lag (ARDL) approach show that, in the long-run, investing in the three components of tourism infrastructure, namely transport and communications infrastructure, the hotel and restaurant industry, and recreation facilities, has a strong and positive impact on international visitor attraction. In addition, different short-run impacts of the three tourism infrastructure components on the whole market and each major international visitor market are also found.

Suggested Citation

  • Quang Hai Nguyen, 2021. "Impact of Investment in Tourism Infrastructure Development on Attracting International Visitors: A Nonlinear Panel ARDL Approach Using Vietnam’s Data," Economies, MDPI, vol. 9(3), pages 1-20, September.
    • Handle: RePEc:gam:jecomi:v:9:y:2021:i:3:p:131-:d:635517
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7099/9/3/131/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7099/9/3/131/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Haiyan Song & Stephen F. Witt & Gang Li, 2003. "Modelling and Forecasting the Demand for Thai Tourism," Tourism Economics, , vol. 9(4), pages 363-387, December.
    2. Edward F. Blackburne III & Mark W. Frank, 2007. "Estimation of nonstationary heterogeneous panels," Stata Journal, StataCorp LP, vol. 7(2), pages 197-208, June.
    3. Ante Mandić & Željko Mrnjavac & Lana Kordić, 2018. "Tourism Infrastructure, Recreational Facilities And Tourism Development," Tourism and Hospitality Management, University of Rijeka, Faculty of Tourism and Hospitality Management, vol. 24(1), pages 41-62, May.
    4. Witt, Stephen F. & Witt, Christine A., 1995. "Forecasting tourism demand: A review of empirical research," International Journal of Forecasting, Elsevier, vol. 11(3), pages 447-475, September.
    5. Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 2(2), pages 111-120, July.
    6. Milica Z. Bookman & Karla R. Bookman, 2007. "Medical Tourism in Developing Countries," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-60565-7, October.
    7. M. Thea Sinclair, 1998. "Tourism and economic development: A survey," Journal of Development Studies, Taylor & Francis Journals, vol. 34(5), pages 1-51.
    8. Salisu, Afees A. & Isah, Kazeem O., 2017. "Revisiting the oil price and stock market nexus: A nonlinear Panel ARDL approach," Economic Modelling, Elsevier, vol. 66(C), pages 258-271.
    9. Narayan, Paresh Kumar & Narayan, Seema, 2005. "Estimating income and price elasticities of imports for Fiji in a cointegration framework," Economic Modelling, Elsevier, vol. 22(3), pages 423-438, May.
    10. Dogru, Tarik & Sirakaya-Turk, Ercan & Crouch, Geoffrey I., 2017. "Remodeling international tourism demand: Old theory and new evidence," Tourism Management, Elsevier, vol. 60(C), pages 47-55.
    11. Álvaro Matias & Peter Nijkamp & Paulo Neto (ed.), 2007. "Advances in Modern Tourism Research," Springer Books, Springer, number 978-3-7908-1718-8, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Viera Ivankova & Beata Gavurova & Radovan Bačík & Martin Rigelský, 2021. "Relationships between road transport infrastructure and tourism spending: A development approach in European OECD countries," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 9(2), pages 535-551, December.
    2. Erick Lahura & Rosario Sabrera, 2023. "The effect of infrastructure investment on tourism demand: a synthetic control approach for the case of Kuelap, Peru," Empirical Economics, Springer, vol. 65(1), pages 443-478, July.
    3. Ioana Meșter & Ramona Simuț & Liana Meșter & Dorin Bâc, 2023. "An Investigation of Tourism, Economic Growth, CO 2 Emissions, Trade Openness and Energy Intensity Index Nexus: Evidence for the European Union," Energies, MDPI, vol. 16(11), pages 1-26, May.
    4. Mallick, Sanmoy & Mitra, Professor Debabrata & Ghosh, Dr Amlan, 2021. "Selection Of Tourist Destination For Investment Decision: A Holistic Model," MPRA Paper 115369, University Library of Munich, Germany, revised 03 Nov 2022.
    5. Olasunmbo Adhuze & Adebayo Adewole & Olawale Adeaga, 2023. "Infrastructure as Drivers for Economic Growth: A Way to advancing Tourism," International Journal of Latest Technology in Engineering, Management & Applied Science, International Journal of Latest Technology in Engineering, Management & Applied Science (IJLTEMAS), vol. 12(09), pages 86-93, September.
    6. Das, Priyanka & Maitra, Swati, 2024. "Priority areas of intervention for improving pedestrian infrastructure and facilities at tourist destinations in India," Transport Policy, Elsevier, vol. 145(C), pages 126-136.
    7. Batara Surya & Hernita Hernita & Agus Salim & Seri Suriani & Iwan Perwira & Yulia Yulia & Muhlis Ruslan & Kafrawi Yunus, 2022. "Travel-Business Stagnation and SME Business Turbulence in the Tourism Sector in the Era of the COVID-19 Pandemic," Sustainability, MDPI, vol. 14(4), pages 1-37, February.
    8. Oco, D.M.C. & Delos Reyes, J.A. & Sevilla-Nastor, J.B. & Roquiño, E.F., 2024. "Valuation of Reef Tourism: A Preliminary Review and Lessons Learned for a Study in the Philippines," ASEAN University for Sustainable Food System, Faculty of Economics, Kasetsart University, Bangkok, Thailand, April 18-19, 2024 344443, Association of Southeast Asian Nations (ASEAN).
    9. Abdullah Uslu & Emrullah Erul & José António C. Santos & Sanja Obradović & Margarida Custódio Santos, 2023. "Determinants of Residents’ Support for Sustainable Tourism Development: An Empirical Study in Midyat, Turkey," Sustainability, MDPI, vol. 15(13), pages 1-14, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Song, Haiyan & Qiu, Richard T.R. & Park, Jinah, 2019. "A review of research on tourism demand forecasting," Annals of Tourism Research, Elsevier, vol. 75(C), pages 338-362.
    2. Tzu-Ming Liu, 2020. "Habit formation or word of mouth: What does lagged dependent variable in tourism demand models imply?," Tourism Economics, , vol. 26(3), pages 461-474, May.
    3. Tarik Dogru & Umit Bulut & Ercan Sirakaya-Turk, 2021. "Modeling tourism demand: Theoretical and empirical considerations for future research," Tourism Economics, , vol. 27(4), pages 874-889, June.
    4. Gangopadhyay, Partha & Jain, Siddharth & Bakry, Walid, 2022. "In search of a rational foundation for the massive IT boom in the Australian banking industry: Can the IT boom really drive relationship banking?," International Review of Financial Analysis, Elsevier, vol. 82(C).
    5. Tang, Chor Foon, 2011. "Tourism, real output and real effective exchange rate in Malaysia: a view from rolling sub-samples," MPRA Paper 29379, University Library of Munich, Germany.
    6. Swaray, Raymond & Salisu, Afees A., 2018. "A firm-level analysis of the upstream-downstream dichotomy in the oil-stock nexus," Global Finance Journal, Elsevier, vol. 37(C), pages 199-218.
    7. Wang, Sen & Gao, Yi, 2021. "A literature review and citation analyses of air travel demand studies published between 2010 and 2020," Journal of Air Transport Management, Elsevier, vol. 97(C).
    8. Salisu, Afees A. & Ndako, Umar B., 2018. "Modelling stock price–exchange rate nexus in OECD countries: A new perspective," Economic Modelling, Elsevier, vol. 74(C), pages 105-123.
    9. Luke Emeka Okafor & Usman Khalid, 2021. "Regaining international tourism attractiveness after an armed conflict: the role of security spending," Current Issues in Tourism, Taylor & Francis Journals, vol. 24(3), pages 385-402, February.
    10. Jaume Rosselló Nadal & María Santana Gallego, 2022. "Gravity models for tourism demand modeling: Empirical review and outlook," Journal of Economic Surveys, Wiley Blackwell, vol. 36(5), pages 1358-1409, December.
    11. Zhao, Xingjun & Wu, Yanrui, 2007. "Determinants of China's energy imports: An empirical analysis," Energy Policy, Elsevier, vol. 35(8), pages 4235-4246, August.
    12. Bosello, Francesco & Delpiazzo, Elisa & Eboli, Fabio, 2015. "Macro-economic Impact Assessment of Future Changes in European Marine Ecosystem Services," Climate Change and Sustainable Development 199442, Fondazione Eni Enrico Mattei (FEEM).
    13. Armand Viljoen & Andrea Saayman & Melville Saayman, 2019. "Determinants influencing inbound arrivals to Africa," Tourism Economics, , vol. 25(6), pages 856-883, September.
    14. Mahapatra, Bamadev & Irfan, Mohd, 2021. "Asymmetric impacts of energy efficiency on carbon emissions: A comparative analysis between developed and developing economies," Energy, Elsevier, vol. 227(C).
    15. Boopen, Seetanah, 2005. "Transport Capital as a Determinant of Tourism Development: A Time Series Approach," MPRA Paper 25402, University Library of Munich, Germany, revised 07 Nov 2006.
    16. Tsermenidis, Konstantinos, 2014. "Προσδιοριστικοί Παράγοντες Της Εθνικής Αποταμίευσης Κατά Την Περίοδο 1990-2010 Και Μέτρα Ενίσχυσης Της Οικονομικής Ανάπτυξης [The Determinants of National Savings in Greece during the period 1990-2," MPRA Paper 56773, University Library of Munich, Germany.
    17. Chia-Lin Chang & Thanchanok Khamkaew & Michael McAleer, 2010. "Estimating Price Effects in an Almost Ideal Demand Model of Outbound Thai Tourism to East Asia," CIRJE F-Series CIRJE-F-735, CIRJE, Faculty of Economics, University of Tokyo.
    18. Balsalobre-Lorente, Daniel & Driha, Oana M. & Sinha, Avik, 2020. "The dynamic effects of globalization process in analysing N-shaped tourism led growth hypothesis," MPRA Paper 100078, University Library of Munich, Germany.
    19. Andrea Saayman & Paolo Figini & Silvio Cassella, 2016. "The influence of formal trade agreements and informal economic cooperation on international tourism flows," Tourism Economics, , vol. 22(6), pages 1274-1300, December.
    20. Mallick, Sanmoy & Mitra, Professor Debabrata & Ghosh, Dr Amlan, 2021. "Selection Of Tourist Destination For Investment Decision: A Holistic Model," MPRA Paper 115369, University Library of Munich, Germany, revised 03 Nov 2022.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jecomi:v:9:y:2021:i:3:p:131-:d:635517. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.