Impact of Investment in Tourism Infrastructure Development on Attracting International Visitors: A Nonlinear Panel ARDL Approach Using Vietnam’s Data

Investment in tourism infrastructure development to make destinations and services increasingly attractive is considered a key measure developing country’s tourist destinations. This paper investigates the impact of investment components on international visitor attraction using data from Vietnam for period 1995–2019. The results analyzing panel by nonlinear Autoregressive Distributed Lag (ARDL) approach show that, long-run, investing three infrastructure, namely transport communications hotel restaurant industry, recreation facilities, has strong positive attraction. In addition, different short-run impacts whole market each major are also found.