Tourism and Economic Growth in Malaysia

Authors

  • Asmawi Hashim Lecturer , Department of Economics, UniversitiPendidikan Sultan Idris (UPSI), Perak. Author
  • Norimah Rambeli@Ramli Lecturer , Department of Economics, UniversitiPendidikan Sultan Idris (UPSI), Perak. Author
  • Norasibah Abd. Jalil Lecturer , Department of Economics, UniversitiPendidikan Sultan Idris (UPSI), Perak. Author
  • Emilda Hashim Lecturer , Department of Economics, UniversitiPendidikan Sultan Idris (UPSI), Perak. Author

DOI:

https://doi.org/10.61841/pp39jf63

Keywords:

Economic Growth, Ministry of Tourism, Culture Malaysia, Tourism Sector

Abstract

The objective of this study is to build a model of long-term relationship estimation between the number of tourist arrivals, foreign exchange rates, total trade in goods and services and total tourism receipts on economic growth in Malaysia. In order to achieve the objective of this study, the annual time series data is utilized. For the estimating model, this study uses the Ordinary Least Square (OLS). The findings suggest that there is a significant and positive relationship between total tourist arrivals and total trade in goods and services with economic growth. However, there is a significant and negative relationship between foreign exchange rates and total tourism receipts with economic growth. Generally, the results of this study show that there is a long-term relationship between all independent variables and economic growth in Malaysia. Based on the findings, the significant suggestion especially on Ministry of Tourism and Culture Malaysia in improving the country's economic performance through the tourism sector.  

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Published

30.09.2020

Issue

Vol. 24 No. 7 (2020): 24 (7) 2020

Section

Articles

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How to Cite

Hashim, A., Rambeli@Ramli, N., Jalil, N. A., & Hashim, E. (2020). Tourism and Economic Growth in Malaysia. International Journal of Psychosocial Rehabilitation, 24(7), 7466-7474. https://doi.org/10.61841/pp39jf63