Many countries are actively pursuing tourism-oriented policies to boost their economic growth. Tourism as an essential economic activity in most countries not only generates revenue but also develops infrastructures and creates jobs and investment opportunities. Several factors can affect the tourism activities of a country. This study investigates the impacts of terrorism, governance structure, military expenditures, and physical and ICT infrastructures upon tourism in an emerging economy, Pakistan. The ARDL bounds testing approach to cointegration is applied with data for the period of 2002Q1–2016Q4. The empirical results show that terrorism, military expenditures, and physical and ICT infrastructures have adverse impacts on tourism both in the short run and in the long run. The governance structure has a positive impact on tourism. Nevertheless this impact, as well as the impact of terrorism, is not significant. The findings from Johansen cointegration and dynamic ordinary least square approaches corroborate the results. This study proposes that governance structure, and physical and ICT infrastructures be improved to promote tourism activities. It is also suggested that more effective measures rather than mere military actions be taken to curtail terrorism and develop tourism. Detailed policy implications are also discussed.

中文翻译：

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恐怖主义，治理结构，军事支出和基础设施对旅游业的影响：来自新兴经济体的经验证据

许多国家正在积极奉行以旅游为导向的政策，以促进其经济增长。在大多数国家，旅游业作为一项必不可少的经济活动，不仅可以创造收入，而且可以发展基础设施，创造就业和投资机会。几个因素会影响一个国家的旅游活动。这项研究调查了恐怖主义，治理结构，军事支出以及有形和ICT基础设施对新兴经济体巴基斯坦旅游业的影响。用于协整的ARDL边界测试方法与2002Q1-2016Q4期间的数据一起使用。实证结果表明，无论是从短期还是从长期来看，恐怖主义，军事支出以及有形和信息通信技术基础设施都对旅游业产生不利影响。治理结构对旅游业产生积极影响。然而，这种影响以及恐怖主义的影响并不重要。Johansen协整和动态普通最小二乘法的发现证实了这一结果。这项研究建议改善治理结构以及有形和信息通信技术基础设施，以促进旅游活动。还建议采取更有效的措施而不是仅仅采取军事行动来减少恐怖主义和发展旅游业。还讨论了详细的政策含义。还建议采取更有效的措施而不是仅仅采取军事行动来减少恐怖主义和发展旅游业。还讨论了详细的政策含义。还建议采取更有效的措施而不是仅仅采取军事行动来减少恐怖主义和发展旅游业。还讨论了详细的政策含义。