NDLI: Are Tourism and Energy Consumption Linked? Evidence from Australia

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Are Tourism and Energy Consumption Linked? Evidence from Australia

Content Provider	MDPI
Author	Khanal, Avishek Rahman, Mohammad Mafizur Khanam, Rasheda Velayutham, Eswaran
Copyright Year	2021
Description	Tourism contributes to the growth of an economy via earning foreign currencies and employment opportunities. However, tourism also contributes to greater energy consumption because of various tourist activities such as hotel accommodations and transportation. This study investigates the long-term cointegrating relationship between international tourist arrivals and primary energy consumption in Australia. In addition, the roles of gross domestic product, gross fixed capital formation, financial development, and total population on energy consumption are also examined. The study covered the last four decades (1976–2018) using data from the Australian Bureau of Statistics, BP Statistical Review, and the World Development Indicators. Augmented Dickey-Fuller, Phillips-Perron, Autoregressive distributed lag (ARDL) bound tests, Johansen and Juselius, Bayer-Hanck cointegration test, and several key diagnostic tests have been conducted to assess the relationship. The estimated results indicate that tourist arrivals, gross domestic product, and financial development have a significant long-run cointegrating relationship with energy consumption. Policy measures are suggested based on the findings of this study.
Starting Page	10800
e-ISSN	20711050
DOI	10.3390/su131910800
Journal	Sustainability
Issue Number	19
Volume Number	13
Language	English
Publisher	MDPI
Publisher Date	2021-09-28
Access Restriction	Open
Subject Keyword	Sustainability Tourism, Leisure, Sport and Hospitality Energy Consumption International Tourist Arrivals Financial Development Ardl Australia
Content Type	Text
Resource Type	Article

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