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Application of Multiple Regression Analysis in modeling the role of the hotel industry in a country's economy

Author

Listed:
  • Maja, Buljat

    (University of Applied Sciences, Zaprešić, Croatia)

  • Suzana, Herman

    (University of Rijeka, Faculty of Tourism and Hospitality Management, Opatija, Croatia)

  • Kristijan, Covic

    (University of Applied Sciences, Zaprešić, Croatia)

Abstract

The aim of this paper is to present the relationship between independent variables that represent one of the indicators of hotel operations and their importance for the country's economic development as measured by gross domestic product in the activities of providing lodging and food and beverage services. The research sample consists of hotel enterprises located on the territory of the Republic of Croatia that provided yearly financial statements from 2002 to 2018. Multiple linear regression analysis revealed a strong significant link between the set variables within the model, indicating that the given independent variables are significant predictors of gross domestic product in the activity of providing accommodation and food and beverage preparation and service, confirming the positive impact of hotel operations on economic development.

Suggested Citation

  • Maja, Buljat & Suzana, Herman & Kristijan, Covic, 2022. "Application of Multiple Regression Analysis in modeling the role of the hotel industry in a country's economy," Journal of Economic and Social Development, Clinical Journals Press, vol. 9(02), pages 01-10, September.
    • Handle: RePEc:ris:joeasd:0046
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    References listed on IDEAS

    as
    1. Jacint Balaguer & Manuel Cantavella-Jorda, 2002. "Tourism as a long-run economic growth factor: the Spanish case," Applied Economics, Taylor & Francis Journals, vol. 34(7), pages 877-884.
    2. Juan Gabriel Brida & Martín Alberto Rodríguez-Brindis & María Leivy Mejía-Alzate & Sandra Zapata-Aguirre, 2017. "La contribución directa del turismo al crecimiento económico de Colombia: Análisis por ramas características del sector utilizando la Cuenta Satélite de Turismo - CST," Revista de Estudios Regionales, Universidades Públicas de Andalucía, vol. 2, pages 121-138.
    3. Juan Gabriel Brida & Isabel Cortes-Jimenez & Manuela Pulina, 2016. "Has the tourism-led growth hypothesis been validated? A literature review," Current Issues in Tourism, Taylor & Francis Journals, vol. 19(5), pages 394-430, April.
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    More about this item

    Keywords

    Hotel industry; economy; Croatia; multiple regression analysis;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists

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