THE POPULATION EMPLOYED AND TOURISM FLOWS IN ROMANIA'S REGIONAL ECONOMIC RECOVERY. A COINTEGRATION ANALYSIS

Abstract

Starting from the role of tourism in sustainable economic development, the paper analyzes the existence of co integration relations between GDP, the employed population in hotels and restaurants and the number of tourists' arrivals in the tourist accommodation structures in Romania by development regions. Taking into account that the analysis aims at identifying stable long-term relations between the analyzed variables, we consider that the gap between the current study period and the availability of the data series in the official statistics does not have a significant influence on the conclusions of the paper. The main conclusion of the paper is the existence of a co integration relationship between the analyzed variables which highlights the significant role of the arrivals flow in the tourist reception structures both on the employed population and on the regional level.