The Validation of the Tourism-Led Growth Hypothesis in the Next Leading Economies: Accounting for the Relevant Role of E
Over the last few decades, a significant volume of research has been documented on the tourism-led growth hypothesis (TLGH). However, the role of education over environmental degradation is yet to be given the desired attention. This study explores the im
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The Validation of the Tourism-Led Growth Hypothesis in the Next Leading Economies: Accounting for the Relevant Role of Education on Carbon Emissions Reduction? Festus Victor Bekun, Festus Fatai Adedoyin, Daniel Balsalobre-Lorente, and Oana M. Driha Abstract Over the last few decades, a significant volume of research has been documented on the tourism-led growth hypothesis (TLGH). However, the role of education over environmental degradation is yet to be given the desired attention. This study explores the impact of air transport over economic growth between 1994 and 2014 in China, India and the US, the three economies predicted to be the largest in forthcoming years. This way, TLGH is tested while also introducing the connection between education and pollutant emissions (CO2 ) for these economies. Thus, suggesting how development in air transport contributes positively to enhance economic growth in the long run. In contrast, ascending CO2 emissions are negatively connected to economic growth contributing to its reduction in selected countries. Further empirical results also confirm the positive effects of energy use and education on economic growth. Based on these results, education is seen to mitigate the pernicious effects of environmental degradation over economic growth’s dampening effects. F. V. Bekun Faculty of Economics and Administrative Sciences, Istanbul Gelisim University, Istanbul, Turkey e-mail: [email protected] Department of Accounting, Analysis and Audit, School of Economics and Management, South Ural State University, 76, Lenin Aven, Chelyabinsk, Russia 454080 F. F. Adedoyin Department of Accounting, Finance and Economics, Bournemouth University, Poole, UK e-mail: [email protected] D. Balsalobre-Lorente (B) Department of Political Economy and Public Finance, Economics and Business Statistics and Economic Policy, University of Castilla-La Mancha, Ciudad Real, Spain e-mail: [email protected] O. M. Driha Department of Applied Economics, International Economy Institute, Institute of Tourism Research, University of Alicante, Alicante, Spain e-mail: [email protected] © The Author(s), under exclusive license to Springer Nature Switzerland AG 2021 D. Balsalobre-Lorente et al. (eds.), Strategies in Sustainable Tourism, Economic Growth and Clean Energy, https://doi.org/10.1007/978-3-030-59675-0_14
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Keywords Tourism-led growth hypothesis · Education · Environmental degradation · CO2 emissions · GDP per capita · Air transport
14.1 Introduction Globally, tourism-led growth hypothesis (TLGH) has been an epitome of debate owing to its direct and indirect significances in the all-round policy formation for developed and emerging economies worldwide (Brida and Risso 2008; Lee and Chang 2008; Holzner 2011; Brida et al. 2016; Balsalobre-Lorente et al. 2020a, b). The World Travel and Tourism Council (2018) revealed that tourism is one of the leading growth sectors next to the manufacturing sector with over 3% and generating more than 10% contribution of economic act
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