Empirical Analysis of Factors Affecting International Competitiveness of Zambia’s Tourism Industry
International Journal of Psychological and Brain Sciences
Volume 3, Issue 1, February 2018, Pages: 7-17
Received: Oct. 9, 2017;
Accepted: Oct. 24, 2017;
Published: Jan. 16, 2018
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Phillip Mutambo, School of International Trade and Economics, Jiangxi University of Finance and Economics, Nanchang, China
Zambia’s tourism industry has been developing noticeably for the last decade and it has become one of the major potential options for economy growth and diversification. Zambia is one such a country that offers unique attractive tourist sites yet it is not among the top 50 worldwide tourist destinations. This research was undertaken in order to empirically analyze factors affecting international competitiveness of the tourism industry in Zambia. The study used Trade Specialization Coefficient (TSC) as a measure of Tourism Industry Competitiveness in Zambia, and carried out an Empirical Analysis using econometric variables selected based on Porters Diamond Model of competitiveness. Using a Principal Component Analysis and Multiple Linear Regression Analysis, the study found that 78.3% of the International Competitiveness of Zambia’s Tourism Industry can be explained by the identified variables in this study. This study concludes that there is need to develop a tourism development plan that streams down from a national to regional level, which will strengthen actions on the ground, leading to a coordination necessary to create opportunities for linking the tourism industry to policies going hand in hand with investment opportunities provided by modern information and telecommunications, which are necessary for improving the Internationational competitiveness of Tourism Industry.
Empirical Analysis of Factors Affecting International Competitiveness of Zambia’s Tourism Industry, International Journal of Psychological and Brain Sciences.
Vol. 3, No. 1,
2018, pp. 7-17.
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