Knowledge and Technological Innovations in the Context of Tourists' Spending in OECD Countries

Abstract

Tourism is one of those segments where the effect of implemented innovations tends to show relatively quickly. The presented study aims to assess the links between knowledge and technological innovation and tourists' spending in a sample of developed countries. To this end, the research relied on annual data (2010-2019) from selected OECD countries (n = 36). Data presenting the innovation potential (Knowledge & technology Global Innovation Index) of selected countries (knowledge creation, impact of knowledge, and knowledge diffusion) was included in the analyzes. Four indicators represented tourism: Business Tourism Spending, Leisure Tourism Spending, Domestic Tourism Spending, Visitor Exports - Foreign spending. The panel regression analysis showed that demonstrable links were proved only for some assumptions, while the identified effects acquired negative trajectories, i.e., in countries where higher tourist spending was identified, lower outputs of innovation activities in the examined areas can be expected. In addition, significant negative links were discovered between the indicators of the creation of knowledge and visitor exports, as well as the dissemination of knowledge and domestic tourism spending. For more accurate results, further analyzes and examinations of interconnections in a different country structure are needed.