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Title: The macroeconomic consequences of quality improvement policies in advanced tourism-led economies
Authors: Inchausti Sintes, Federico 
UNESCO Clasification: 531290 Economía sectorial: turismo
Keywords: Dynamic General Equilibrium Model
Economic Growth
Export Diversification
Free Capital Movements
Income Elasticity, et al
Issue Date: 2019
Journal: Current Issues in Tourism 
Abstract: Traditional sun-and-beach destinations in advanced economies are facing increased competition from cheaper destinations in emerging countries. In contrast to other capital-intensive sectors, tourism, as a service-based activity, cannot make significant productivity gains to improve its competitiveness. Moreover, tourism-led economies have an underdeveloped industrial sector that limits opportunities for economic diversification. In this context, this paper presents a three-country dynamic CGE model to analyze the role of tourism quality improvements to achieve sustainable long-term economic growth in mature destinations in a context of international capital movements. According to the results, tourism-led economies may converge in real salaries with wealthier economies when focusing on high-end visitors. On the other hand, cheaper destinations achieve better returns from tourism activity in diversified economies.
ISSN: 1368-3500
DOI: 10.1080/13683500.2019.1679094
Source: Current Issues in Tourism[ISSN 1368-3500]
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