ECONOMETRIC ASSESSMENT OF THE MACROECONOMIC CONTRIBUTIONS OF TOURISM IN REPUBLIC OF SRPSKA

Nemanja Šarenac; Predrag Mlinarević; Slađana Paunović

doi:10.63356/ace.2025.011

Authors

Nemanja Šarenac Faculty of Economics Pale University of East Sarajevo, East Sarajevo, Republic of Srpska, Bosnia and Herzegovina https://orcid.org/0000-0003-0656-6577
Predrag Mlinarević Faculty of Economics Pale University of East Sarajevo, East Sarajevo, Republic of Srpska, Bosnia and Herzegovina https://orcid.org/0009-0005-4609-6882
Slađana Paunović Faculty of Economics Pale University of East Sarajevo, East Sarajevo, Republic of Srpska, Bosnia and Herzegovina https://orcid.org/0009-0006-1745-0704

DOI:

https://doi.org/10.63356/ace.2025.011

Keywords:

tourism, tourism-driven economic growth, macroeconomic contributions, Republika Srpska

Abstract

This paper provides an econometric assessment of the macroeconomic contributions of tourism in Republic of Srpska. The analysis is based on the Tourism-Led Economic Growth (TLEG) hypothesis and examines the elasticity of gross value added in the services and agriculture sectors in relation to tourist arrivals, as well as the long-term relationship between tourism and GDP growth. The results suggest that tourism positively influences economic development, particularly through its effects on service-oriented and agricultural activities. Despite the limitations in the availability and reliability of official data, the findings support the recognition of tourism as a strategic sector. The paper highlights the need for improved statistical infrastructure, greater investment and the strategic development of the tourism sector to enhance its growth and competitiveness potential.

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