Booming tourism industry and urban economic growth

Abstract

This article provides an empirical analysis of the risk of the “resource curse” in tourism-dependent economies. Using China`s tourism data for 48 major tourist cities from 2000 to 2012, the article reexamines the direct and indirect effects of tourism booms on urban economic growth within the framework of the resource curse. At the city level, there is some evidence for the presence of Dutch Disease symptoms as a consequence of high dependency on tourism industry. However, physical investment tends to be an important transmission channel via which tourism exerts a positive indirect effect on economic growth. The evidence becomes stronger for cities, which are more dependent on the tourism industry.

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