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Analysis of the Main Components in the Evaluation of Tourism Performance in Romania (2014-2022): Essential Dimensions and Strategic Directions for Sustainable Development

Author

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  • Roxana-Marcela Zaharia

    (“Ovidius” University of Constanța, Doctoral School of Business Administration, Romania)

  • Cristina Elena Georgescu

    (“Ovidius” University of Constanța, Faculty of Economic Sciences, Romania)

Abstract

Tourism contributes significantly to economic and social development, but in Romania it faces challenges related to the capitalization of resources and infrastructure development. This study applies the Principal Component Analysis (PCA) to data from 2014-2022, provided by the National Institute of Statistics (INS), to identify the essential dimensions influencing tourism performance. The indicators analysed include the share of tourism in GDP, international arrivals, average length of stay and regional distribution of tourist flows. The results highlight two main dimensions: the attractiveness of destinations and the economic contribution. The first two components explain 94.77% of the total variation, Component 1 being dominated by variables associated with destinations (e.g., „Mountain”), and Component 2 by economic variables (e.g., „PondTurPIB”). The temporal evolution shows a decline in 2020 caused by the COVID-19 pandemic, followed by a partial recovery in 2021-2022. The study contributes to understanding the dynamics of Romanian tourism and provides recommendations for public policies focused on diversification of the offer and investments in infrastructure, supporting the competitiveness and sustainability of the sector.

Suggested Citation

  • Roxana-Marcela Zaharia & Cristina Elena Georgescu, 2024. "Analysis of the Main Components in the Evaluation of Tourism Performance in Romania (2014-2022): Essential Dimensions and Strategic Directions for Sustainable Development," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 332-340, December.
    • Handle: RePEc:ovi:oviste:v:xxiv:y:2024:i:2:p:332-340
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    More about this item

    Keywords

    Tourism; analysis; destinations; economic contribution; development;
    All these keywords.

    JEL classification:

    • Z3 - Other Special Topics - - Tourism Economics
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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