Tourism and Economic Growth: Regional Aspect
The purpose of this paper is to assess an impact of tourist flows and elements of the tourism industry on economic growth in regions of the Russian Federation. The research methodology is analysis of data resulting from a panel regression built on the basis of several statistical indicators. The resulting study revealed a positive impact of tourist flows on economic development in the regions, which illustrates the value of number of persons placed in DAC models. In addition, the number of travel agencies, the labor productivity index, and the share of fixed capital investment in GRP have a positive impact on the value of GRP. The study was conducted since GRP may be influenced by other factors that were not considered in the work due to limitations of available statistical data.