Tourism revenues and energy consumption in e-7 countries: Examining the dynamic effects on economic growth

Year 2024, Issue: Special Issue 2 - Sustainability, Innovation and Changing Dynamics in Tourism: From Local to Global, 71 - 78, 16.10.2024

Şeyma Bozkaya , Aysun Özen , Sinan Göç

Abstract

The study tests the tourism and energy-related growth hypothesis. A study was conducted on E-7 countries. The main objective of the study is to understand the dynamics between economic growth, energy consumption and tourism revenues in these countries and to evaluate the interactions between these factors. The analysis period consists of 2005-2020 annual data. Fixed Effects and GMM estimators are utilized. The findings show that there is no significant relationship between renewable energy consumption and economic growth. On the other hand, it is observed that tourism revenues and primary energy consumption have an impact on growth. The findings revealed the relationship between tourism and energy consumption, and necessary economic policy recommendations were made for the sustainability of destinations.

Keywords

International Tourism, Energy Consumption, Economic Growth, E-7 Countries, Panel Data

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