Journal
ECONOMIES
Volume 9, Issue 3, Pages -Publisher
MDPI
DOI: 10.3390/economies9030131
Keywords
tourism infrastructure; attracting international visitors; transport and communications infrastructure; hotel and restaurant industry; recreation facilities
Categories
Funding
- Vietnam National University, Ho Chi Minh, Vietnam [3-2021]
- University of Economics and Law
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In the long run, investing in the three components of tourism infrastructure has a strong and positive impact on international visitor attraction. Short-term impacts vary depending on the different tourism infrastructure components and markets.
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.
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