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Impact of Financial Crisis on Black Sea Tourism

Author

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  • Adina Trandafir

    (“Spiru Haret” University, Romania)

Abstract

This paper aims to highlight, using a linear regression model, how the antisocial measures (reducing wages, taxation of pensions, increased VAT rate), adopted by the government amid the global financial crisis, affect various aspects of life in Romania. In this respect, using a simple linear correlation, we analyzed the impact of the average wage in Romania on the number of days of accommodation and on the number of tourists staying in southern Black Sea coast hotel during 2004-2011. Analysis revealed a strong correlation (as detected by the correlation matrix) between the variables mentioned above and also a strong impact of the independent variable (average salary) on the two dependent variables (number of days of stay and the number of Romanian tourists staying in unit from 2004-2011).

Suggested Citation

  • Adina Trandafir, 2012. "Impact of Financial Crisis on Black Sea Tourism," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 12(1), pages 305-312.
    • Handle: RePEc:pet:annals:v:12:y:2012:i:1:p:305-312
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    More about this item

    Keywords

    romanian tourism; global downturn; fiscal measures;
    All these keywords.

    JEL classification:

    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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