Economics of tourism & growth for small island countries

Stauvermann, Peter J. and Kumar, Ronald Ravinesh ORCID: 0000-0001-9658-4896 (2016) Economics of tourism & growth for small island countries. Tourism Management, 55. pp. 272-275. ISSN 0261-5177

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We theoretically analyze the impact of changes in foreign income from tourism source countries on the growth of tourism dependent small island economies. Using a general theoretical construct, we attempt to answer the question of how price elasticity of demand, income elasticity of tourist and the degree of competition in the service sector influence the economic development of small economies. One of the main results is that politicians may consider applying policies which lead to a competitive environment in the service sector to maximize growth and the consequent labor income share.

Item Type: Article
Uncontrolled Keywords: Economic growth model, Elasticities, Small island economies
Divisions: Institute of Management > Bolton Business School
Depositing User: Tracey Gill
Date Deposited: 16 May 2016 17:36
Last Modified: 08 Mar 2018 12:02
Identification Number: 10.1016/j.tourman.2016.02.020

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