The Role of Sustainable Competitiveness Indicator in Malaysian Tourism and Economic Growth
This paper proposes a sustainable competitiveness indicator for the state of tourism vulnerability in the Malaysian tourism market. Further investigation has also been done on the time-frequency and lead-lag relationship of the indicator with tourism development and economic growth. The resultant in...
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| Format: | Article |
| Language: | English |
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Sciendo
2024-12-01
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| Series: | Studies in Business and Economics |
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| Online Access: | https://doi.org/10.2478/sbe-2024-0053 |
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| author | Soh Ann-Ni Puah Chin-Hong Mohammad Affendy Arip Jong Meng-Chang |
| author_facet | Soh Ann-Ni Puah Chin-Hong Mohammad Affendy Arip Jong Meng-Chang |
| author_sort | Soh Ann-Ni |
| collection | DOAJ |
| description | This paper proposes a sustainable competitiveness indicator for the state of tourism vulnerability in the Malaysian tourism market. Further investigation has also been done on the time-frequency and lead-lag relationship of the indicator with tourism development and economic growth. The resultant indicator is consisted of 12 variables, identified based on the pillars of sustainability and competitiveness to extract a common vulnerability component using a dynamic approximate factor model. The model’s accuracy rate was at a promising 92% based on the variable importance assessment using random forest algorithms. Through the implementation of bivariate wavelet coherence analysis, the empirical results indicated that the constructed indicator has a positive leading role in Malaysian tourism development and economic growth. This indicator can be embedded within an early warning system to signify vulnerabilities in the Malaysian tourism market. |
| format | Article |
| id | doaj-art-3e3c58aa69094768ad285bc278d48118 |
| institution | Kabale University |
| issn | 2344-5416 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Studies in Business and Economics |
| spelling | doaj-art-3e3c58aa69094768ad285bc278d481182025-02-02T15:49:07ZengSciendoStudies in Business and Economics2344-54162024-12-0119322824010.2478/sbe-2024-0053The Role of Sustainable Competitiveness Indicator in Malaysian Tourism and Economic GrowthSoh Ann-Ni0Puah Chin-Hong1Mohammad Affendy Arip2Jong Meng-Chang31Universiti Malaysia Sarawak, 94300Kota Samarahan, Malaysia2Universiti Malaysia Sarawak, 94300Kota Samarahan, Malaysia3Universiti Malaysia Sarawak, 94300Kota Samarahan, Malaysia4Universiti Malaysia Sarawak, 94300Kota Samarahan, MalaysiaThis paper proposes a sustainable competitiveness indicator for the state of tourism vulnerability in the Malaysian tourism market. Further investigation has also been done on the time-frequency and lead-lag relationship of the indicator with tourism development and economic growth. The resultant indicator is consisted of 12 variables, identified based on the pillars of sustainability and competitiveness to extract a common vulnerability component using a dynamic approximate factor model. The model’s accuracy rate was at a promising 92% based on the variable importance assessment using random forest algorithms. Through the implementation of bivariate wavelet coherence analysis, the empirical results indicated that the constructed indicator has a positive leading role in Malaysian tourism development and economic growth. This indicator can be embedded within an early warning system to signify vulnerabilities in the Malaysian tourism market.https://doi.org/10.2478/sbe-2024-0053competitivenesssustainable developmentsustainable competitivenesstourism growthindicator |
| spellingShingle | Soh Ann-Ni Puah Chin-Hong Mohammad Affendy Arip Jong Meng-Chang The Role of Sustainable Competitiveness Indicator in Malaysian Tourism and Economic Growth Studies in Business and Economics competitiveness sustainable development sustainable competitiveness tourism growth indicator |
| title | The Role of Sustainable Competitiveness Indicator in Malaysian Tourism and Economic Growth |
| title_full | The Role of Sustainable Competitiveness Indicator in Malaysian Tourism and Economic Growth |
| title_fullStr | The Role of Sustainable Competitiveness Indicator in Malaysian Tourism and Economic Growth |
| title_full_unstemmed | The Role of Sustainable Competitiveness Indicator in Malaysian Tourism and Economic Growth |
| title_short | The Role of Sustainable Competitiveness Indicator in Malaysian Tourism and Economic Growth |
| title_sort | role of sustainable competitiveness indicator in malaysian tourism and economic growth |
| topic | competitiveness sustainable development sustainable competitiveness tourism growth indicator |
| url | https://doi.org/10.2478/sbe-2024-0053 |
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