THE RELATIONSHIP BETWEEN FOREIGN DIRECT INVESTMENT AND TOURISM SECTOR: THE JAMAICAN CASE

Year 2021, Issue: 31, 229 - 246, 30.04.2021

Ayça Sarıalioğlu Hayali Asiye Küçükosman Kolee Kpartor

https://doi.org/10.18092/ulikidince.845934

Cited By: 1

Abstract

Foreign Direct Investment (FDI) and Tourism Sector are two significant factors both contributing to development, directly and indirectly, and also foreign exchange need of developing world. In this regard, the paper tries to determine if there is a relationship between FDI and tourism sector in the regard of the Jamaican case by using granger causality test. It can be said that Jamaica is a typical example, which is selected out of the developing world, in terms of both the importance of the tourism sector and FDI. According to the results within the framework of the econometric analysis, it is found out that Tourism Expenditures and FDI inflows are causally related, and the Granger causality is uni-directional running from FDI Inflows to Tourism Expenditures in the Jamaican Case. In other words, in Jamaica, FDI inflows are the cause and the tourism expenditures are the result, which can be theoretically expected. Since FDI inflows including the FDI in specifically tourism sector contribute to all the economy, by developing both tangible assets, such as infrastructure, and intangible assets, such as managerial skills of a country, it all contributes to the tourism sector as a service sector.

Keywords

Foreign Direct Investment, Tourism Sector, Granger Causality Test, the Jamaican Case

DOĞRUDAN YABANCI YATIRIM VE TURİZM SEKTÖRÜ ARASINDAKİ İLİŞKİ: JAMAİKA ÖRNEĞİ

Abstract

Doğrudan Yabancı Yatırım (DYY) ve Turizm Sektörü, hem doğrudan hem de dolaylı olarak kalkınmaya hem de gelişen dünyanın döviz ihtiyacına katkıda bulunan iki önemli faktördür. Bu bağlamda, çalışma Jamaika örneği ile ilgili olarak DYY ile turizm sektörü arasında bir ilişki olup olmadığını Granger nedensellik testi kullanarak belirlemeye çalışmaktadır. Jamaika'nın, hem turizm sektörünün hem de DYY’nin önemi açısından gelişmekte olan ülkelerden seçilen tipik bir örnek olduğu söylenebilir. Ekonometrik analiz çerçevesindeki sonuçlara göre, Turizm Harcamaları ve DYY girişlerinin nedensel olarak ilişkili olduğu ve Granger nedenselliğinin Jamaika örneğinde DYY Girişlerinden Turizm Harcamalarına doğru tek yönlü olduğu bulunmuştur. Bir başka deyişle, teorik olarak beklenebilecek şekilde Jamaika’da DYY girişleri neden, turizm harcamaları sonuçtur. Özellikle turizm sektöründeki DYY'yi içeren DYY girişleri, hem altyapı gibi somut varlıkları hem de bir ülkenin yönetimsel becerileri gibi soyut varlıkları geliştirerek tüm ekonomiye katkı sağladığından, tüm bunlar da hizmet sektörü olarak turizm sektörüne katkı sağlamaktadır.

Keywords

Doğrudan Yabancı Yatırım, Turizm Sektörü, Granger Nedensellik Testi, Jamaika Örneği

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