Empirical Evidence on Convergence of Travel and Tourism Competitiveness and Global Competitiveness Across the BRIC Countries

Empirical Evidence on Convergence of Travel and Tourism Competitiveness and Global Competitiveness Across the BRIC Countries

Anastasia A. Katou (University of Macedonia, Greece) and Eleni F. Katsouli (University of Macedonia, Greece)
DOI: 10.4018/978-1-5225-0708-6.ch001
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Abstract

The purpose of this paper is to empirically examine whether global competitiveness and travel and tourism competitiveness converge across the BRIC countries, and whether travel and tourism competitiveness influences global competitiveness. Utilizing the theoretical frameworks of ß-convergence, s-convergence, and time-series-convergence, our findings confirmed the presence of convergence of the aforementioned variables across the BRIC countries. Additionally, utilizing the growth tracing theoretical framework, our findings confirmed that travel and tourism competitiveness positively influences global competitiveness across the BRIC countries.
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Introduction

BRIC is the acronym that stands for Brazil, Russia, India and China, which are four of the world’s emerging but not yet fully developed economies. Although together these countries make up more than 40% of the world’s population and over 25% of the world’s land, they account for only 27% of the world’s Gross Domestic Product (GDP) -in Purchasing Power Parity units (see Table 1 that presents some key indicators of the four BRIC countries). However, these figures rightfully support their name being the “Big Four”.

Table 1.
Key indicators of the BRIC countries (2013)
BrazilRussiaIndiaChina
Population (millions)198.3143.51,252.11,357.4
Surface area (1,000 square kilometers)8,515.817,098.23,287.39,562.9
Gross Domestic Product (US$ billions)2,242.92,118.01,870.79,181.4
Gross Domestic Product per capita (US$)11,31114,8191,5056,747
Gross Domestic Product per capita (Purchasing Power Parity, PPP$)14,98724,2985,45011,868
Gross Domestic Product (Purchasing Power Parity) as share (%) of world total2.792.945.8315.40
Real Gross Domestic Product Growth (%)2.501.305.007.70

Source: (WEFa) The Global Competitiveness Report 2015. Geneva: World Economic Forum.

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