IMPROVEMENT OF MECHANISMS FOR SUSTAINABLE DEVELOPMENT OF THE TOURIST SPHERE IN AN INNOVATIVE ECONOMY

Abstract

This paper intends to find and measure the impact of ICT usage on economic growth of tourism sector of the Uzbek economy over a 10 years period from 2011 to 2020. This study evaluates the effectiveness of ICT by investigating whether there is a short -term relationship between the growth rate and production resources. Using Ordinary Least Square regression models and more advanced econometric techniques, this study has both confirmed prior literature and made some new discoveries as well as identifying significant trade-offs that come with adoption of the ICT infrastructure development policy. This effect has been identified as ‘Solow residual”. A positive relationship between output, labor and ICT investment was established during the study while the relationship between growth rate of sector and hotel places was found surprisingly negative. Also figures show that while internet use continues in Uzbekistan to spread, the digital gap between rural and urban areas is also growing.