The Taxonomy of the Least Developed Countries Based on the Tourism Economic Impact Analysis

Taxonomy as primarily empirical approach to the classification has become an important part of science in development of the diverse socio-economic processes. Furthermore, the topic of developing countries is currently a discussed topic at the international level. It is closely related to tourism as one of the sources of their potential growth. This paper aims to develop the taxonomy of the least developed countries based on the tourism economic impact analysis. We use the cluster analysis as a quantitative method for constructing taxonomies and analyze the countries based on the several different measures. As a result, taxonomy is developed based upon the outcomes of the cluster analysis.