Estimating the Economic Impact of Tourism in the European Union: Review and Computation

Journal of Travel Research, Forthcoming

33 Pages Posted: 28 Jul 2021

See all articles by Paolo Figini

Paolo Figini

University of Bologna - Department of Economics; University of Bologna - CAST - Centre for Advanced Studies in Tourism

Roberto Patuelli

University of Bologna - Department of Economics

Date Written: May 30, 2021

Abstract

The article investigates the economic contribution of tourism to the GDP. We review background methodologies, systematically collect data for EU countries, and develop a sound and ready-to-use procedure for computing indirect and total economic impacts. The routine is then applied to selected destinations for which a minimum standard in the quality of data from Tourism Satellite Accounts and Input–Output tables is met. Methodologically, the article provides a tool for estimating the total contribution of tourism to output, gross value added, and employment. Empirically, the comparison of results across EU economies shows a high degree of heterogeneity in the tourism share to GDP, which is critically discussed. Our procedure delivers a key tool to researchers, industry leaders, and policy makers willing to investigate income and employment consequences of scenarios differing in the evolution of tourism demand, something of high relevance in the COVID-19 era.

Keywords: economic impact,tourism satellite accounts,Input–Output,European Union,tourism statistics

JEL Classification: Z3,C67,D57

Suggested Citation

Figini, Paolo and Patuelli, Roberto, Estimating the Economic Impact of Tourism in the European Union: Review and Computation (May 30, 2021). Journal of Travel Research, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3893637

Paolo Figini

University of Bologna - Department of Economics ( email )

Piazza Scaravilli 2
Bologna, 40126
Italy

HOME PAGE: http://www2.dse.unibo.it/dsa/profile.php?id=33

University of Bologna - CAST - Centre for Advanced Studies in Tourism ( email )

Via Angherà 22
Rimini, RN 47922
Italy

Roberto Patuelli (Contact Author)

University of Bologna - Department of Economics ( email )

via Anghera' 22
Rimini, 47921
Italy
+39-0541-434276 (Phone)
+39-02-700419665 (Fax)

HOME PAGE: http://https://sites.google.com/site/patuellihomepage/

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