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All Journal Journal of Islamic economics Perspectives (JIEP)
Shah, Kapil
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Religion Economics, Econometrics & Finance Education Social Sciences

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Assessing The Contribution Of Tourism To Economic Growth In Nepal Ojha, Krishna Prasad; Kandel, Madan; Shah, Kapil
Journal of Islamic Economics Perspectives Vol. 6 No. 1 (2024): February (2024) Journal of Islamic Economics Perspectives
Publisher : Faculty of Islamic Economics and Business, State Islamic University of  Kiai Haji Achmad Siddiq Jember, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35719/95s4rm49

Abstract

This study examines the impact of tourism on Nepal’s economic growth using time-series data from 2001 to 2024. Employing linear and multiple regression analyses, results show a significant upward trend in tourist arrivals, increasing by approximately 1,493 visitors annually, and a corresponding rise in tourism’s contribution to GDP by 0.0184 percentage points per year. A strong positive correlation (r = 0.87) between tourist arrivals and GDP contribution underscores tourism’s key role in economic development. Despite a sharp decline in tourism during 2020 due to the COVID-19 pandemic, structural break analysis indicates a resilient recovery in subsequent years. Stationarity tests show that important variables were not stable, so we adjusted the data to make it suitable for accurate time-series modeling. Findings highlight the sustained and growing economic importance of tourism in Nepal and suggest avenues for future research incorporating advanced modeling techniques.
Co-Authors Kandel, Madan Ojha, Krishna Prasad