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Efficacy of Tourism Sector in Enhancement of the National Economy

In: Recent Advancements in Tourism Business, Technology and Social Sciences

Author

Listed:
  • Eirini Eleni Nikolaou

    (University of Western Macedonia)

  • Stavros Kalogiannidis

    (University of Western Macedonia)

  • Dimitrios Syndoukas

    (University of Western Macedonia)

Abstract

The tourism sector of the global economy is one of the largest and fastest growing. This sector makes a major contribution to an economy’s growth. An increase in tourism might be good for the economy of the nations, especially in terms of GDP and employment opportunities. In many European countries, the tourist industry plays a significant role in economic development and GDP increase. This study examines the national economic impact of tourism sector on Greece. The sample size determination was based on the Krejcie and Morgan (Educ Psychol Meas 30:607–610, 1970) model. The sample size was 240 respondents that are under the tourism sector of Greece. Data was collected using a survey questionnaire. The key finding of this study is that there is a long-term relationship between the variables under examination and that the tourist industry has a positive and significant impact on Greece’s economic growth as well as the employment sector. This analysis suggests that given the great potential that the tourist sector has throughout the country, legislators should focus on legislation that places a special emphasis on its growth. The study’s policy implications are also addressed, along with suggestions for further research.

Suggested Citation

  • Eirini Eleni Nikolaou & Stavros Kalogiannidis & Dimitrios Syndoukas, 2024. "Efficacy of Tourism Sector in Enhancement of the National Economy," Springer Proceedings in Business and Economics, in: Vicky Katsoni & George Cassar (ed.), Recent Advancements in Tourism Business, Technology and Social Sciences, pages 587-611, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-54338-8_34
    DOI: 10.1007/978-3-031-54338-8_34
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    More about this item

    Keywords

    Tourism sector; Economic growth; Gross domestic product; National economy;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • Z30 - Other Special Topics - - Tourism Economics - - - General

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