Year: 2025 | Month: September | Volume: 12 | Issue: 9 | Pages: 503-524
DOI: https://doi.org/10.52403/ijrr.20250949
Analysis of the Tourism Sector’s Linkage to Economic Growth in the ASEAN Countries
Sri Endang Putri Zagoto1, Paidi2, Sukardi3
1Postgraduate Students Faculty of Economics and Business, Department of Economics, Universitas Sumatera Utara, Indonesia
2,3Postgraduate Lecturer Faculty of Economics and Business, Department of Economics, Universitas Sumatera Utara, Indonesia
Corresponding Author: Sri Endang Putri Zagoto
ABSTRACT
This study aims to analyze the relationship between the tourism sector and economic growth in ASEAN countries (Thailand, Singapore, Malaysia, Indonesia, Vietnam, the Philippines, and Cambodia). Specifically, the study examines the effects of tourist arrivals, the number of hotels, tourism expenditure(outbound) and tourism receipts on economic growth. The method employed is panel data regression analysis, with the Fixed Effect Model (FEM) selected as the best-fitting model based on model selection criteria. The results indicate that the variables of tourist arrival and the number of hotels do not have a significant impact on economic growth in the ASEAN region. In contrast, tourism expenditure and tourism receipts have a positive and significant influence on economic growth. These findings suggest that improvement in the quality and economic value of the tourism sector play a more substantial role in driving economic growth than merely increasing the quantity of tourists or accommodation infrastructure.
Keywords: Tourism, Economic Growth, ASEAN, Panel Data, Fixed Effect Model
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