nep-tur New Economics Papers
on Tourism Economics
Issue of 2022‒08‒15
three papers chosen by
Laura Vici
Università di Bologna

  1. Law, Political Stability, Tourism Management and Economic Development in Sub-Saharan Africa By Simplice A. Asongu; Mushfiqur Rahman; Joseph Nnanna
  3. A bibliometric analysis on Artificial intelligence in Tourism. State of the art and future research avenues By Martina Nannelli; Francesco Capone; Luciana Lazzeretti

  1. By: Simplice A. Asongu (Yaounde, Cameroon); Mushfiqur Rahman (University of Wales Trinity Saint David, UK); Joseph Nnanna (Abuja, Nigeria)
    Abstract: This study complements the extant literature by assessing how the rule of law and political stability modulate tourism development dynamics (i.e. tourism receipts and tourism expenditure) to affect economic development in terms of gross domestic product (GDP) per capita. The study focuses on 47 countries in sub-Saharan Africa (SSA) with data for the period 2002 to 2018 and the empirical evidence is based on the Generalized Method of Moments. The study finds that: (i) the rule of law modulates both tourism receipts and tourism expenditure for overall positive effects on economic development and (ii) political stability modulates tourism receipts for an overall positive impact on economic development. Policy implications are discussed.
    Keywords: Tourism Management; Economic Growth; Sub-Saharan Africa
    JEL: O10 O40 Z3 Z32
    Date: 2022–01
  2. By: Mercy T. Musakwa (University of South Africa); Nicholas M. Odhiambo (University of South Africa)
    Abstract: In this study, we investigate the impact of tourism on financial development in Kenya using time series data from 1995 to 2017. The study uses the autoregressive distributed lag (ARDL) bound testing approach to cointegration and error correction model to examine this linkage. To increase the robustness of the results, the study uses two proxies of financial development, namely broad money (bank-based financial development proxy) and total value of stocks traded (market-based financial development proxy). Results show that tourism has an insignificant impact on financial development in Kenya – both in the short and in the long run. The results apply irrespective of whether the financial development is proxied by a bank-based financial development indicator or by a market-based financial development indicator. This finding points to the fact that, although tourism is one of the main sources of foreign exchange in Kenya, it has no direct impact on financial development. The findings from this study add value to policy makers in Kenya by revealing the insignificant impact tourism has on financial development, although it is contrary to other studies that found a positive contribution. Based on the findings, Kenya may not anchor its financial development policies on tourism.
    Date: 2022–06
  3. By: Martina Nannelli (University of Florence); Francesco Capone (University of Florence); Luciana Lazzeretti (University of Florence)
    Abstract: The tourism industry has undergone a deep transformation driven by the information and communication technologies (ICTs) development that has taken hold in recent years thanks to innovations in Artificial Intelligence (AI) and its tools. Although a growing literature is being produced on this topic, scientific research on AI and tourism is still fuzzy and fragmented. The aim of this work is to explore the current state of art and possible future developments of Artificial Intelligence and its tools in the field of tourism. Different methodologies were combined to achieve this objective. The study develops first a bibliometric analysis using the ISI web database and applies then social network analysis (SNA) to identify the main authors and to explore the intellectual structure of this field through keyword co-occurrence, then a qualitative literature review has been developed to investigate the main research themes, applications and developments. The findings confirm the industry's direction towards digitization and robotization of services and identify some of the main research strands: the use of Big Data (BD) for demand forecasting and customer satisfaction measurement; Augmented Reality (AR) and Virtual Reality (VR) experience for value co-creation processes; the Covid-19 pandemic, healthcare and social distances issues and service robots; and finally, the smart tourism trends.
    Keywords: artificial intelligence; tourism industry; bibliometric analysis; social network analysis; literature review.
    JEL: L83 Z30 L86
    Date: 2022

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