Drivers of Growth and Catch-up in the Tourism Sector of Industrialized Economies

COVID-19 decimated global tourism. As governments and firms strategize the sector’s recovery, insights from the sector’s prepandemic period of high growth offer useful policy lessons. This study examines the drivers of the tourism sector’s growth and catch-up performance in 13 industrialized economies over the period 2000–2015, using data from the EU-KLEMS database. The findings have three notable policy implications. First, the tourism sector...