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Since the first quarter of 2020, due to the spread of the Covid-19 pandemic, which is continuing unabated with the periodical emergence of new variants, international tourism has become one of the most affected sources of external earnings for developing countries. For the South Asian countries, the crisis was predicted to result in a 42% to 60% drop in tourist arrivals in 2020 and 2021. Tourism has been providing a great impetus to the growth of the informal sector supported by information and communication technology and the participation of women, both full-time and part-time in several small and minienterprises. This panel study employing a nonlinear econometric methodology confirms the existence of an asymmetric association between tourism and economic growth for six South Asian countries for the period 1995 to 2018 for which data series are complete and officially available. While the positive partial-sum decomposition of tourism increased economic growth, the negative-sum decomposition of tourism had a much greater adverse effect on economic growth. There are some relevant conclusions with policy implications in the context of continuing uncertainties. [ABSTRACT FROM AUTHOR]

In the context of the current recession in industrialized countries and the resultant dim prospects for exports from small Pacific island countries, mobilization of foreign exchange earnings assumes considerable importance. The dependency of Samoa and Tonga on inward remittances is well known, as the two Polynesian island countries in recent years have been among the first top ten remittance recipient countries of the world. This paper examines the long-run nexus between economic growth and inward remittances during a three-decade period (1981-2008). The paper also discusses some important policy implications arising out of the study's findings. [ABSTRACT FROM AUTHOR]

Remittances have been a great support to Pacific island countries (PICs). Aside from providing additions to domestic savings and, hence, real resources, they have been one of the major sources of foreign exchange earnings. In the context of falling exports and limited options to diversify their exports, inward remittances have assumed greater importance. This paper examines the nexus between growth and remittances in Samoa. [ABSTRACT FROM AUTHOR]