Lukáš Malec, Václav Žák
Modelling Structural Relations for Tourism Demand
Číslo: 2/2021
Periodikum: Statistika
Klíčová slova: Structural equation modelling, causality, simultaneous equations, tourism
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Anotace:
This application study concentrates on causal links, directed from economic parameters to internal Czech
and Slovak tourism for both, short- as well as long-term changes in time series. As tourism forms a fundamental
part of the service industry with many social and environmental connections, the structural equation modelling
(SEM) methodology, i.e. simultaneous equations covering the number of fundamental and derived variables,
is used. Taking into account the market specifics with relative close history, the identical models for countries
are selected, enabling a precise mutual comparison. The data on a ratio of non-residents and residents, together
with nights spent and other parameters, are examined for first as well as seasonal differencing. For instance,
the destination living cost, relative wages and salaries, the balance of payments, labour productivity, trade
openness and harmonized unemployment as exogenous variables, are introduced. Covering short and long
horizons, labour productivity is a fundamental parameter in the Czech Republic. Significant relations proved
differently between countries presented by trade openness as a factor of the global economy. The members
of destination management or other authorities can appreciate the results, concentrated especially on various
accommodation establishments and hospitality.
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and Slovak tourism for both, short- as well as long-term changes in time series. As tourism forms a fundamental
part of the service industry with many social and environmental connections, the structural equation modelling
(SEM) methodology, i.e. simultaneous equations covering the number of fundamental and derived variables,
is used. Taking into account the market specifics with relative close history, the identical models for countries
are selected, enabling a precise mutual comparison. The data on a ratio of non-residents and residents, together
with nights spent and other parameters, are examined for first as well as seasonal differencing. For instance,
the destination living cost, relative wages and salaries, the balance of payments, labour productivity, trade
openness and harmonized unemployment as exogenous variables, are introduced. Covering short and long
horizons, labour productivity is a fundamental parameter in the Czech Republic. Significant relations proved
differently between countries presented by trade openness as a factor of the global economy. The members
of destination management or other authorities can appreciate the results, concentrated especially on various
accommodation establishments and hospitality.