A Study of the Impact of Information and Communication Technology (ICT), Financial Development and Energy Consumption on International Tourism and Economic Growth Nexus

Economic growth in all the countries depends on various factors, so in empirical studies with regard to the purpose and view of the researcher, different explanatory variables are used in the economic growth model. Due to the importance of tourism industry in the growth and prosperity of countries, studying the relationship between international tourism and economic growth is the main purpose of this article. On the other hand, based on existing theories and previous studies, information and communication technology (ICT), financial development and energy consumption are effective on economic growth and the relationship between economic growth and international tourism, so we have investigated the impact of these variables on the international tourism and economic growth nexus. In order to achieve the research goals, augmented Solow growth model and vector autoregressive distributed lag bounds test method were used for modeling and estimating equations during the period of 1353 to 1391.Results indicate that international tourism, energy consumption, and ICT have a positive and significant effect on economic growth in the long and short run. The estimation of causality confirmed the existence of causality of all of these variable to economic growth. Also, the results show that the impact of variables on international tourism such as economic growth, ICT, financial development and energy consumption are positive but it is not significant. So the causal relationship between these variable doesn’t exist and we can not accept the impact of ICT, financial development and energy consumption on international tourism and economic growth nexus.