8th World Summit on Management Sciences
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Accepted Abstracts

Socio-economic Impacts in Nepal Through Tourism Development: An Econometric Analysis

Dila Ram Bhandari* 
Tribhuvan University, Nepal

Citation: Bhandari DR (2020) Socio-economic Impacts in Nepal Through Tourism Development: An Econometric Analysis. SciTech Management Sciences 2020

Received: August 11, 2020         Accepted: August 14, 2020         Published: August 14, 2020

Abstract

Nepal is a small and landlocked developing economy country in South Asia which is highly heterogeneous in terms of geography, ethnicity, language and culture of the 23.15 million people comprising 102 different ethnic and caste groups. Nepal is making encouraging progress towards meeting Millennium Development Goals (MDGs) targets by 2015. The objective of this paper is to analyse to examine and find out the socio- economic development factors responsible and to find appropriate econometric models and planning policy. I use a log linear regression model of real Gross Domestic Product (GDP), The Augmented Dickey-Fuller (ADF) test is used to determine the order of integration of the series by using annual macroeconomic data (tourism, security, education, remittance and health) for Nepal for the period of 2000-2017, results reveal that there is a cointegrating relationship between tourism and economic growth. Education, tourism and remittance are directly impact to increase the GDP but health and security are indirectly impact on economic growth.
Keywords: GDP, Econometric Model, Socio economic development, Tourism