COVID-19 OUTBREAK AND ROLE OF TOURISM DEVELOPMENT ON ECONOMIC GROWTH IN PAKISTAN

Authors

  • Normah Abdul Latip School of Housing Building and Planning, UNIVERSITI SAINS MALAYSIA
  • Rehmat Karim School of Housing Building and Planning, UNIVERSITI SAINS MALAYSIA
  • Azizan Marzuki School of Housing Building and Planning, UNIVERSITI SAINS MALAYSIA
  • Faqeer Muhammad School of Housing Building and Planning, UNIVERSITI SAINS MALAYSIA
  • Attaullah Shah School of Housing Building and Planning, UNIVERSITI SAINS MALAYSIA
  • Veronica Yilret Nanle School of Housing Building and Planning, UNIVERSITI SAINS MALAYSIA
  • Mohd Umzarulazijo Umar School of Housing Building and Planning, UNIVERSITI SAINS MALAYSIA

DOI:

https://doi.org/10.21837/pm.v19i19.1062

Keywords:

Covid-19, Tourism Development, Economic Growth, Pakistan

Abstract

The current research aimed to find out the effect of tourism development on economic growth in Pakistan for the period (1995 to 2017) by using Canonical Regression Analysis (CCR) and Dynamic Least Square (DOLS) method. In addition, a unit root test is used to find out the static nature of the variables, and for the robust check, the authors utilize the Fully Modified Least Square (FMOLS) method. The results of the CCR and DOLS shows the key role of tourism development on growth, and FMOLS confirms these findings. In addition, the contribution of financial development is insignificant and positive. However, inflation harms economic growth, which depicts that the government of Pakistan will face severe challenges to achieve the targeted level of growth in future. In addition, an outbreak of Coronavirus Disease (Covid-19) is another challenge that will cause a significant decline in tourism receipts.

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References

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Published

2021-12-29

How to Cite

Abdul Latip, N., Karim, R., Marzuki, A., Muhammad, F., Shah, A., Yilret Nanle, V., & Umar, M. U. (2021). COVID-19 OUTBREAK AND ROLE OF TOURISM DEVELOPMENT ON ECONOMIC GROWTH IN PAKISTAN. PLANNING MALAYSIA, 19(19). https://doi.org/10.21837/pm.v19i19.1062

Issue

Vol. 19 (2021): PLANNING MALAYSIA JOURNAL : Volume 19, Issue 5, 2021

Section

Article

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Copyright (c) 2021 Normah Abdul Latip, Rehmat Karim, Azizan Marzuki, Faqeer Muhammad, Attaullah Shah, Veronica Yilret Nanle, Mohd Umzarulazijo Umar

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eISSN: 0128-0945 © Year. The Authors. Published for Malaysia Institute of Planners. This is an open-access article under the CC BY-NC-ND license.

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