Impact of Infrastructure Governance with Moderating Role of Political Stability in the Top Tourist Countries

Abstract

The main objective of this study is to investigate the impact of political stability, governance structure, military expenditure, physical and ICT infrastructures upon tourism in an emerging economy. Ordinary least square (OLS) approach confirmed the relationship among variables. Results show that ICT and MEXP are statistically significant and have negative impact on the tourism in selected Asian countries. But PHI, GS, and PS are statistically significant and have positive effect on the tourism in selected Asian countries. Furthermore, interaction effect of (PS*ICT) is statistically significant and has positive effect on the tourism while interaction effects of (PS*PHI), (PS*MEXP) are statistically significant and have negative impact on the tourism. According to the result of the study PHI, GS, and PS have a positive impact on tourism, it's essential to capitalize on these factors. Governments and tourism stakeholders should focus on enhancing physical infrastructure (PHI), improving government stability (GS), and promoting political stability (PS) to attract more tourists. Since ICT and MEXP are negatively impacting tourism, strategies should be implemented to mitigate their effects. While ICT can sometimes disrupt traditional tourism industries, efforts should be made to adapt and integrate technology in a way that enhances the overall tourism experience.