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COMCEC Tourism Outlook-2019

4

A cross country study by the IMF showed that an increase of one standard deviation in tourism

activitywould lead to an additional annual growth of about 0.5 percentage point per year, ceteris

paribus (everything else being constant) (IMF, 2009). Thus, particularly low income economies

should view investing in its tourism industry as a means to stimulate growth over the long term

and enabling the poor to share in economic gains.