The Effects of Selected Macroeconomic Variables on Tourism Demand for the South Moravian Region of the Czech Republic from Germany, Poland, Austria, and Slovakia

Abstract

<jats:p>International tourism is one of the most important sectors of the open economy. The aim of this paper is to investigate the effects that income as gross domestic product, tourism price as the real exchange rate, and travel cost as the price of Brent crude oil have on inbound tourism demand (tourist arrivals) from Poland, Slovakia, Germany, and Austria in the South Moravian Region of the Czech Republic over the period 2002:M1–2018:M5. The number of Polish, German, Slovak and Austrian tourists accommodated in collective accommodation establishments within the South Moravian Region as a dependent variable are considered. To achieve this aim, cointegration analysis under the VECM approach is applied. The results show that Slovak, Polish, Austrian and German tourists respond positively to their income changes. Austrian and Slovak tourists respond negatively to changes in tourism prices in the Czech Republic. Tourists from Germany and Poland do not respond to changes in the Czech price level since their elasticity coefficients are non‑significant. German, Austrian and Slovak tourists respond negatively to transportation cost changes. Polish tourists do not respond to transport cost changes since their elasticity coefficient is non‑significant.</jats:p>

Impact of Selected Macroeconomics Variables on Tourism Demand in the Czech Republic

“…The specificity of tourism represents a specific product or service -in this case, we are talking about the so-called tourism product, which represents a group of mutually complementary goods and services (Song et al, 2023). Business entities in tourism make decisions about public procurement, investment, and employment based on the expected values of future demand as well as the expected consequences in the demand for tourism determinants (Jeřábek, 2019).…”

“…In past studies has been proposed four criteria that can be utilized for this purpose. These criteria include: the number of arrivals; the monetary aspect, such as the amount of travel expenditure; the temporal aspect, such as the duration of stay in the destination: and the distance to the destination, which refers to the distance travelled in kilometers (Jeřábek, 2019).…”

Modelos e determinantes da demanda turística internacional

“…A necessidade da utilização de novas variáveis é resultado de uma limitação das variáveis tradicionais, como a renda e o preço, na explicação da demanda turística, assim como da diversificação dos destinos objetos dos estudos. Dessa forma, alguns autores de destinos pouco tradicionais encontram três soluções para atender suas particularidades: incluir uma ou duas novas variáveis independentes (Moura & Montini, 2010, Akter, Akhtar, & Ali, 2017, Falk & Vieru, 2019, inserir variáveis do tipo dummy buscando aprimorar o modelo (Kulendran & Wong, 2011, Kronenberg, Fuchs, Salman, Lexhagen, Hopken, 2016, Tavares & Leitão, 2017 ou limitar seus estudos nas variáveis tradicionais (Jerabek, 2019, Husein & Kara, 2020.…”

Does the Value of Currency Affect the Numbers of International Inbound Tourists to Turkey?

“…whereas Jeřábek (2019) and Gozgor et al (2017) used the reverse form of the consumer price index ratio as the real exchange rate and Dogru et al (2017) defined the domestic and rival countries' price level ratio as a substitute price variable. The empirical models in these studies also consider the effects of income and cost on inbound tourist numbers.…”