On the tourism-led growth hypothesis in the UAE: a bootstrap approach with leveraged adjustments

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    Abstract

    The emerging market of the UAE has chosen attracting international tourism as one of the main strategies during the recent decades in order to diversify its economy. The main goal has been to achieve sustainable growth without overreliance on the volatile oil sector. This article investigates the impact of tourism on economic performance in the UAE by using bootstrapped causality tests with leverage adjustments. The results show that the tourism-led growth hypothesis can be supported empirically. Thus, the conducted policy by the UAE government to promote international tourism for achieving economic growth might be considered as a sustainable strategy.

    Original languageEnglish
    Pages (from-to)424-427
    Number of pages4
    JournalApplied Economics Letters
    Volume23
    Issue number6
    DOIs
    Publication statusPublished - Apr 12 2016

    Keywords

    • Tourism
    • bootstrapping
    • causality test
    • economic growth
    • the UAE

    ASJC Scopus subject areas

    • Economics and Econometrics

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