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Article summary:
1. Tourism has become the world’s third-largest export industry, contributing 9.8% of global GDP and representing 7% of the world’s total exports.
2. This study examines the relationship between inbound tourism, financial development and economic growth by using panel data over the period 1995–2015 for five BRICS (Brazil, Russia, India, China and South Africa) countries.
3. The results indicate that tourism, financial development and economic growth are cointegrated in the long run and that there is a bi-directional causality between inbound tourism and economic growth.
Article analysis:
The article is generally trustworthy as it provides a detailed analysis of the relationship between tourism and economic growth among BRICS countries using panel data from 1995 to 2015. The article also provides evidence to support its claims with references to relevant studies conducted in this field. However, there are some potential biases that should be noted when reading this article. Firstly, the article does not explore any counterarguments or alternative perspectives on this topic which could provide a more balanced view of the issue at hand. Secondly, while the article does provide evidence for its claims, it does not present both sides equally which could lead to an overly one-sided view of the issue being presented. Finally, there is a lack of discussion about possible risks associated with promoting tourism policies which could lead to an overly optimistic view of their potential benefits without considering any potential drawbacks or negative consequences they may have on local economies or communities.