Tourism capital: Index for the Spanish provinces through confirmatory factor analysis
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In this study, a new conception of the relationships between competitiveness, tourism, and economic growth is proposed. The naturally occurring or inherited tourism resources within the territory, together with productive resources and the relationships between them, are the determining elements of the capacity of the economy to grow. The analysis of this new conceptual framework implies the need to assess the productive factors on the one hand, and the tourism capital (TC) on the other, the latter being measured by some kind of indicator that is not affected by the productive factors. In this study, a TC index is developed for the first time in the literature. It is calculated for the Spanish provinces in 2014, by using synthetic indicators constructed from a weighted average of the initially proposed indicators, where the weight of each of these is obtained through a confirmatory factor analysis. The TC index may allow future empirical studies to analyze how tourism affects economic growth, in relation to other productive factors. © The Author(s) 2018.
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