EFFECTS OF TOURISM DEVELOPMENT ON THE ECONOMY OF BOSNIA AND HERZEGOVINA
Keywords:Bosnia and Herzegovina, tourism, economic development
Bosnia and Herzegovina (BiH) used to be an attractive tourist destination, which existed within the former Yugoslavia, and experienced a real collapse of tourism development after the war in the 1990s. The recovery process required, above all, the establishment of general stability and harmonization of interests of three constituent nations. That is the reason why the focus on general economic and social progress has been present for years, and tourism as an economic branch has been placed on the margins of development plans. The subject of this research is tourism as a facilitator of the development of Bosnia and Herzegovina. The main aim is to present the direct and indirect contributions of tourism to the development of the national economy of Bosnia and Herzegovina. It required the collection of data using classical scientific research methods, and then processing using statistical techniques. The purpose is to provide the insight into the strength and direction of correlation between individual categories in the balance of payments through correlation regression analysis. In addition, the analysis of the impact of tourism on investment, employment and gross domestic product was performed. This paper answers the question whether tourism in Bosnia and Herzegovina stimulates economic development and whether economic development enables the development of tourism.
Adu-Ampong, E. A. (2018). Tourism and national economic development planning in Ghana, 1964–2014. International Development Planning Review, 40(1), 75-96. Doi: 10.3828/idpr.2018.2
Ateljevic, J. & Page, S. J. (2017). (Eds.). Tourism and entrepreneurship. International Perspectives. London, UK: Rutledge.
Agency for Statistics BiH (2018). Business statistics - units of the statistical business register VII(1). Sarajevo: author VII. Retrieved from: http://www.bhas.ba/saopstenja/2018/SBS_00_2017_Y1_0_BS.pdf
Antunac, I. (2002). Myth on foreign exchange consumption of foreign tourists. Economic review, 53(3-4), 233-268.
Bianchi, R. (2018). The political economy of tourism development: A critical review. Annals of Tourism Research, 70, 88-102. doi:10.1016/j.annals.2017.08.005
Boskovic, T. (2009). Tourism as a factor of economic development. Business School, 2, 23-28. Retrieved from: http://www.vps.ns.ac.rs/SB/2009/2.3.pdf
Cooper, C., Fletcher, J., Fyall, A., Gilbert, D. & Wanhill, S. (2008). Tourism: Principles and Practice. Harlow, UK: Prentice Hall Financial Times
Dwyer, L., Forsyth, P. & Spurr, R. (2004). Evaluating tourism’s economic effects: new and old approaches. Tourism management, 25(3), 307-317. Doi:10.1016/S0261-5177(03)00131-6
Gavranovic, A. (2018). Dilemmas about the role of tourism in the Croatian economy. Economics, 25(2). Doi: 10.5937/siks1704229o
Herman, G. V., Deac, A. L., Ciobotaru, A. M., Andronache, I. C., Loghin, V. & Ilie, A. M. (2017). The role of tourism in local economy development. Bihor county case study. Urbanism. Architecture, 8(3). Retrieved from: https://www.ceeol.com/search/article-detail?id=603209
Heng, T. M. & Low, L. (1990). Economic impact of tourism in Singapore. Annals of Tourism Research, 17(2), 246-269. Doi: 10.1016/0160-7383(90)90086-7
Narayan, P. K. (2004). Economic impact of tourism on Fiji’s economy: empirical evidence from the computable general equilibrium model. Tourism Economics, 10 (4), 419-433. Doi:10.5367/0000000042430971
Repak, S., & Muhic, D. (2016) Tourism in the economic policy of Bosnia and Herzegovina. Transition. 18(38), 121-131. Retrieved from: https://hrcak.srce.hr/188879
Stanic, M., & Vujic, T. (2016). Tourism as a factor of economic development. Journal of the University of Synergy, 17(2). Doi: 10.7251/zrsng1602014s
Shkrijelj, H., & Shabani, H. (2018). Tourism as a factor for economic development of municipality pec. Knowledge International Journal, 23(4), 1137-1141.
Song, H., Dwyer, L., Li, G. & Cao, Z. (2012). Tourism economics research: A review and assessment. Annals of tourism research, 39(3), 1653-1682. Doi:10.1016/j.annals.2012.05.023
Vukonic, B. (2018). Economic theory and tourism economics. Acta Turistica, 30(Special Issue), 17-63. Doi:10.22598/at/2018.30.SI.17
Zecevic, B., Petkovic, G. & Kovacevic, I. (2014). Tourism as a part of the national economy. Economic policy and development, 105-124. SciIndeks. (n.d.). Available at: https://scindeks-clanci.ceon.rs/data/pdf/0353-443X/2011/0353-443X1102089P.pdf. Tcdata. (n.d.). Available at: https://tcdata360.worldbank.org
Agencija za statistiku Bosne i Hercegovine. (n.d.). Available at: http://www.bhas.ba
Centralna banka Bosne i Hercegovine. (n.d.). Available at: http://statistics.cbbh.ba
Knoema. (n.d.). Available at: https://knoema.com
How to Cite
Copyright (c) 2020 Acta Economica
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.