Tourism Development and Economic Growth In Eastern European Economies

The main objective of this study is to investigate the causal relationship between tourism infrastructure, economic growth and tourism development in the Eastern European countries in a multivariate model, using the data for the period 2005-2016. The chosen research model is based on the multivariate comparative analysis of influence factors evolution, using data for the chosen period. The study uses the regression method to assess the contribution of tourism to the economic growth in Eastern European countries. For Estonia and Romania, the hypothesis of economic growth influenced by the tourism industry is confirmed, as evidenced by the evolution of the factors considered. As for Latvia, the economic growth is not dependent on the two factors considered, but only on tourism infrastructure, while in Lithuania and Poland, the factor with direct influence on economic growth is the receipts from tourism. In the case of Slovakia, the results show that tourism development and economic growth do not seem to be sensitive to each other, even if the statistical data indicate a better position in terms of the weight of tourism receipts in GDP over 2005-2016, an average of 2,7% compared to 1,2% for Romania and 2,2% for Latvia. One possible explanation could be the economic structure and contribution of the tourism industry to the GDP of these countries. Thus, a favorable development is indicated for Estonia (7,2%) and Lithuania (10%).