Abstract:
This study sought to examine the influence of tourism Industry in economic growth of Tanzania. The specific objectives of this study were: to investigate the influence of tourism receipts on the Tanzania economic growth, to determine the influence or Foreign Direct Investment on the Tanzania economic growth, to evaluate the influence of Inflation on the Tanzania economic growth and to ascertain the influence of Interest rate on the Tanzania economic growth. The study used a secondary data. Secondary data was gathered from National Bureau of Statistics, Bank of Tanzania, Ministry of Natural Resources and Tourism - Tanzania and the World Data Indicators for the period of 26 years (1995-2020). Using inferential statistics and readily accessible analysis technologies such as the STATA version 13, data obtained was summarized, categorized, interpreted and evaluated. The results obtained showed tourism receipts has significant influence on economic growth. Findings of this study depicted that FDlhas significant influence on economic growth. Also, findings of this study unveiled that, inflation has significant influence on economic growth. Similarly, findings of this study indicated that interest rate has significant influence on economic growth. This study recommends that, future research may concentrate on primary data to investigate the influence of tourism industry in economic growth. Lastly, this study used relatively shod-length annual time series data, so future research can use long length data with more advanced techniques and variables.
