REVISITING THE TOURISM-LED GROWTH HYPOTHESIS IN THE PHILIPPINES: EVIDENCE FROM AUTOREGRESSIVE DISTRIBUTED LAG MODEL (ARDL) BOUNDS TESTING APPROACH
Tourism has emerged as one of the most dynamic sectors contributing to economic growth in many developing economies. This study revisits the tourism-led growth hypothesis in the Philippines by examining the relationship between tourism expenditure and economic growth using annual time-series data from 1980 to 2022. Emp...