https://orcid.org/0000-0002-0946-2901
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ABSTRACT
BRI is a mega-development project covering 140 countries in three continents; Asia, Africa, and Europe. The political and economic dimensions of BRI have been studied in several studies in the literature, but the effect on tourism has been less explored. Tourism development has been linked with sustainable development goals due to its substantial economic potential. A panel dataset of 151 countries from 2000–2019 is used to analyze the effect of participation in BRI on the tourism industry. The PSM-DID model is used after testing the validity through the event-study approach. The robustness of the estimates was tested through counterfactual evidence and a placebo test. The findings show that participation in BRI has increased the number of inbound tourists by 18.4% and tourism revenues by 7%. BRI proved relatively more beneficial for the tourism industry of South Asian, Western Asian, and Middle Eastern countries. The regional difference can be attributed to tourist attraction spots, entry regulations for foreigners, the service quality of the tourism industry, and support facilities offered to tourists. The cooperation among the countries should be increased to facilitate tourists. Tourism companies can use these findings to improve their selection of target markets and future development plans.
一带一路倡议下的发展 : 参与国旅游业的收益摘 要
BRI是一个覆盖三大洲140个国家的大型发展项目; 亚洲、非洲和欧洲。 BRI 的政治和经济层面已在多项文献研究中得到研究，但对旅游业的影响却鲜有探讨。旅游业发展因其巨大的经济潜力而与可持续发展目标联系在一起。使用 2000-2019 年 151 个国家的面板数据集来分析参与 BRI 对旅游业的影响。 PSM-DID 模型是在通过事件研究方法测试有效性后使用的。估计的稳健性通过反事实证据和安慰剂检验进行了检验。调查结果显示，参与‘一带一路’倡议使入境游客人数增加了 18.4%，旅游收入增加了 7%。事实证明，‘一带一路’对南亚、西亚和中东国家的旅游业更为有利。地区差异可归因于旅游景点、外国人入境规定、旅游业的服务质量以及为游客提供的配套设施。应加强各国之间的合作，为游客提供便利。旅游公司可以利用这些发现来改进他们对目标市场和未来发展计划的选择。
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Notes on contributors
Tooba Ahmad
Tooba Ahmad is Ph.D. in International Relations and working as Lecturer at CUI Lahore, Lahore Campus, Pakistan. Her research interests include the Belt & Road Initiative, CPEC, environmental governance, regional politics in Asia, comparison of international policies, and role of the economy in international relations (E-mail: [email protected]).
Sami Ullah
Sami Ullah is Assistant Professor of Management at the University of Central Punjab, Lahore-Pakistan. He did his Ph.D. in Management at Lancaster University, UK. His research interests include sustainable development, tourism development, regional development, and innovation & technology management (E-mail: [email protected]).