Dynamic relationship among economic growth, energy, trade openness, tourism, and environmental degradation: fresh global evidence

This study analyzes the impact of economic growth, energy consumption, trade openness, and tourism on environmental degradation measured by CO2 emissions by using annual data of 112 countries for the period 1995 to 2017. Furthermore, the study also analyzes the relationship of the variables as mentioned above in four income and five regional groups of the world. The findings confirm the existence of environmental Kuznets curve (EKC), and level of income (turning point) is also determined, which helps in the improvement of the environmental quality of selected sample countries. The results of the overall sample show that economic growth, use of energy, and tourism are proved to be harmful to the environment, whereas the result of trade openness is not statistically robust. Results of sub-samples are mixed. Findings of this study highlight some essential steps which must be taken by the government and international environmental agencies for the protection of the environment through efficient utilization of energy and sustainable tourism.