Dynamic Model of Economic Growth in a Small Tourism Driven Economy

  • Stefan F. Schubert
  • Juan G. Brida


International tourism is one of the fastest growing industries, accounting for more than 10% of total international trade and almost half of total trade in services, and can be considered as one of the world’s largest export earners. In many countries, foreign currency receipts from tourism exceeds currency receipts from all other sectors together. Thus, tourism, which is an alternative form of exports, contributes to the balance of payments through foreign exchange earnings and proceeds generated from tourism expansion.


Capital Stock Relative Price Small Open Economy Balance Growth Path Tourism Production 
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Copyright information

© Springer-Verlag Berlin Heidelberg 2011

Authors and Affiliations

  1. 1.Competence Centre in Tourism Management and Tourism Economics (TOMTE), School of Economics and ManagementFree University of BolzanoBolzanoItaly

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