Title: The impact of educational tourism on economic growth: a panel data analysis

Authors: Siti Hajar Hussein; Suhal Kusairi; Fathilah Ismail

Addresses: School of Social and Economic Development, Universiti Malaysia Terengganu, Malaysia ' School of Social and Economic Development, Universiti Malaysia Terengganu, Malaysia ' School of Maritime Business and Management, Universiti Malaysia Terengganu, Malaysia

Abstract: Since the early 21st century, the educational tourism sector has been growing rapidly especially in developing countries and it is one of the major sources of export in a number of developed countries. Therefore, the objective of this paper is to determine the impact of educational tourism on economic growth with controlling the impact of exports of goods and foreign direct investment. A panel dataset of 11 countries was selected as the main group in international education exporter for the years 2002-2017 and this study utilised static panel data analysis. The results found that educational tourism and exports have positive impact on economic growth. The study also found that there is a country specific effect through different constant. This study proved that other than exports of goods, certain countries can benefit from the educational tourism sector as the new engine of economic sustainability.

Keywords: educational tourism; economic growth; panel data analysis.

DOI: 10.1504/IJBG.2021.115301

International Journal of Business and Globalisation, 2021 Vol.28 No.1/2, pp.172 - 192

Received: 01 Dec 2018
Accepted: 03 May 2019
Published online: 27 May 2021 *

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