MAKING A DIGITAL AND FINANCIAL LEAP TOWARDS SUSTAINABLE TOURISM IN GHANA

Abstract

Purpose – The study investigates the impact of information and communications technology (ICT) and financial development on tourism development in Ghana. Design/methodology/approach – The researchers employ data covering from 1995Q1 to 2020Q4 and apply the autoregressive distributed lag (ARDL) estimation technique. Findings – The findings reveal that ICT exerts a positive significant impact on tourism development in both long- and short-term periods. The authors find that financial development has a negative significant effect on tourism development in the long run. However, financial development significantly increases tourism revenue in the short term. The results further reveal a significant positive link between infrastructure development and tourism receipts in the long run. Originality/value – This study is a pioneering effort to investigate the impact of ICT and financial development on tourism development in Ghana, as far as the researchers are aware. Additionally, the use of an index of ICT adds novelty to the literature. In terms of policy, the findings of this study can inform policymakers on the importance of investing in ICT and financial development to boost the tourism industry in Ghana.