This study examines the tourism-led growth hypothesis (TLGH) in Vietnam during the period 1992–2011. The authors use two-step procedures to test the hypothesis. They first apply cointegration and the Granger causality test to identify the relationships between tourism earning and gross domestic product (GDP). Second, they use growth decomposition methodology to measure the contribution of tourism to economic growth. The results indicate that it is worthwhile for the government to implement economic policies to stimulate economic growth through the tourism sector in Vietnam.
AkinboadeO.A.BraimohL.A. (2010), ‘International tourism and economic development in South Africa: A Granger causality test’, International Journal of Tourism Research, Vol 12, pp 149–163.
2.
BalaguerJ.Cantavell-JordaM. (2002), ‘Tourism as a long – run growth factor: The Spanish case’, Applied Economics, Vol 34, pp 877–884.
3.
BridaJ.G.RissoW.A. (2009), ‘Tourism as a factor of long-run economic growth: An empirical analysis for Chile’, European Journal of Tourism Research, Vol 2, No 2 pp 178–185.
4.
BridaJ.G.PereyraJ.S.RissoW.A.DevesaW.J.S.AguirreS.Z. (2008), ‘The tourism-led growth hypothesis: Empirical evidence from Colombia’, Tourismos, Vol 4, No 2, pp 13–27.
5.
BridaJ.G.LanzilottaB.LionettiS.RissoW.A. (2010), ‘The tourism-led growth hypothesis for Uruguay’, Tourism Economics, Vol 16, No 3, pp 765–771.
6.
Cortes-JimenezI.PulinaM. (2010), ‘Inbound tourism and long-run economic growth’, Current Issues in Tourism, Vol 13, No 1, pp 61–74.
7.
Cortes-JimenezI.NowakJ.-J.SahliM. (2011), ‘Mass beach tourism and economic growth: Lessons from Tunisia’, Tourism Economics, Vol 17, No 3, pp 531–547.
8.
DickeyD.A.FullerW.A. (1981), ‘Likelihood ratio statistics for auto-regressive time series with a unit root’, Econometrica, Vol 49, pp 1057–1072.
9.
DritsakisN. (2004), ‘Tourism as a long-run economic growth factor: An empirical investigation for Greece’, Tourism Economics, Vol 10, pp 305–316.
10.
GunduzL.HatemiA. (2005), ‘Is the tourism-Led growth hypothesis valid for Turkey?’, Applied Economics Letters, Vol 12, pp 499–504.
11.
IvanovS.WebsterC. (2007),‘Measuring the impact of tourism on economic growth’, Tourism Economics, Vol 13, No 3, pp 379–388.
12.
IvanovS.WebsterC. (2010), ‘Decomposition of economic growth in Bulgaria by industry’, Journal of Economic Studies, Vol 37, No 2, pp 219–227.
13.
IvanovS.WebsterC. (2013), ‘Tourism's impact on growth: The role of globalization’, Annals of Tourism Research, Vol 41, 231–236.
14.
JohansenS.JuseliusK. (1990), ‘Maximum likelihood estimation and inference on cointegration-with application to the demand for money’, Oxford Bulletin of Economics and Statistics, Vol 52, pp 169–210.
15.
KatirciogluS.T. (2009), ‘Revisiting the tourism-led-growth hypothesis for Turkey using the bounds test and Johansen approach for cointegration’, Tourism Management, Vol 30, pp 17–20.
16.
KatirciogluS.T. (2010), ‘Testing the tourism-led growth hypothesis for Singapore – an empirical investigation from bounds test to cointegration and Granger causality tests’, Tourism Economics, Vol 16, No 4, pp 1095–1101.
17.
OhC.O. (2005), ‘The contribution of tourism development to economic growth in the Korean economy’, Tourism Management, Vol 26, pp 39–44.
18.
SeetanahB. (2011), ‘Assessing the dynamic economic impact of tourism for island economies’, Annals of Tourism Research, Vol 38, No 1, pp 291–308.
XieF.LacherR.G.NepalS.K. (2011), ‘Economic impacts of domestic tourism in the rural developing world: A case study of Zhangjiaje city, China’, Tourism Review International, Vol 14, pp 29–42.