The role of tourism in region economy. Based on Minsk Сity and Belarus

Abstract

[eng] Tourism is one of the leading factors stimulating the economic growth of cities, countries and entire regions. Obviously, lack of studies on the topic has been carried out within the framework of Belarus. Hence, this research examines the role of tourism and its impact on the economy in the Republic of Belarus and Minsk City based on time series data for the selected years 2015 to 2019. The research is based on statistics, various determinants, correlation coefficients, the Granger causality and the Johansen co-integration tests, scientific research methods including analysis, comparison, generalization and synthesis to identify the evidence of interrelation between tourism aspects and economic development. As a result of the conducted research, the influence of tourism on the economy of a destination is studied; worldwide experience of tourism development in the cities is considered. In conclusion, based on the complex analysis of current level of tourism development, the researcher pulls out some specific proposals to increase the role of tourism industry in the socio-economic development in Minsk and Belarus. The study focuses on traditional relevant variables such as tourist arrivals, tourism receipts and economic growth and the statement of gross domestic product.