The effects of tourism and globalization over environmental degradation in developed countries
Balsalobre-Lorente, Daniel | Driha, Oana M. | Shahbaz, Muhammad | Sinha, Avik
This paper focuses on long-term evidence on economic growth, international tourism, globalization, energy consumption and carbon dioxide (CO₂) emissions in OECD countries for the period of 1994–2014. The empirical analysis reveals that climate change is magnified by energy use, tourism and economic growth. An inverted U-shaped relationship is also found between international tourism and CO₂ emissions. The contribution of international tourism to climate change in the early stages of development is thus diminished by globalization in the later stages. In other words, globalization appears to reduce carbon emissions from international tourism. The empirical results provide additional arguments for shaping regulatory frameworks aimed at reversing the current energy mix in OECD countries by facilitating energy efficiency and promoting renewable sources.
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