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A Note on Modelling Tourism Revenues in Croatia

Author

Listed:
  • James E. Payne

    (College of Business and Technology, Eastern Kentucky University, Richmond, KY 40475, USA)

  • Andrea Mervar

    (Institute of Economics, Zagreb, Trg J.F. Kennedy 7, 10000 Zagreb, Croatia)

Abstract

An econometric model of revenues from international tourism for the transition economy of Croatia is estimated over the period 1993:1 to 1999:4. It is found that European Union GDP and the real effective exchange rate are significant factors influencing Croatian tourism revenues. Moreover, the 1995 military action by Croatia to regain authority over the territories occupied in 1991 had an adverse effect on tourism revenues. There is also evidence of seasonal variation in tourism revenues, with the tourist season from July to September exerting the largest impact. Finally, the estimated econometric model is robust with respect to the model's residual diagnostics and stability of the regression coefficients.

Suggested Citation

  • James E. Payne & Andrea Mervar, 2002. "A Note on Modelling Tourism Revenues in Croatia," Tourism Economics, , vol. 8(1), pages 103-109, March.
    • Handle: RePEc:sae:toueco:v:8:y:2002:i:1:p:103-109
    DOI: 10.5367/000000002101298016
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Erjavec, Natasa, 2003. "Applied macroeconometrics in transition economy: Croatian experience," LSE Research Online Documents on Economics 23444, London School of Economics and Political Science, LSE Library.
    2. Kristian Orsini & Vukašin Ostojić, 2018. "Croatia’s Tourism Industry: Beyond the Sun and Sea," European Economy - Economic Briefs 036, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. Niccolò Comerio & Fernanda Strozzi, 2019. "Tourism and its economic impact: A literature review using bibliometric tools," Tourism Economics, , vol. 25(1), pages 109-131, February.
    4. Cem Işık & Ercan Sirakaya-Turk & Serdar Ongan, 2020. "Testing the efficacy of the economic policy uncertainty index on tourism demand in USMCA: Theory and evidence," Tourism Economics, , vol. 26(8), pages 1344-1357, December.
    5. Luis A. Gil-Alana & Andrea Mervar & James E. Payne, 2016. "Modeling the degree of persistence in Croatian tourism," Tourism Economics, , vol. 22(3), pages 655-664, June.
    6. James E. Payne & Andrea Mervar, 2010. "Research Note: The Tourism–Growth Nexus in Croatia," Tourism Economics, , vol. 16(4), pages 1089-1094, December.
    7. Junwook Chi, 2016. "Research Note: Employment and Wage Sensitivity to Tourism Activities – The Case of US Tourist Arrivals and Expenditure in Hawaii," Tourism Economics, , vol. 22(1), pages 171-178, February.
    8. Tasos Stylianou, 2017. "The Contribution Of Tourism Development In Mediterranean Countries. A Dynamic Panel Data Approach," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 67(2), pages 85-100, April-Jun.
    9. Paul Hanly & Garret Wade, 2007. "Research Note: Modelling Tourism Demand – an Econometric Analysis of North American Tourist Expenditure in Ireland, 1985–2004," Tourism Economics, , vol. 13(2), pages 319-327, June.
    10. Andrea Mervar & James E. Payne, 2007. "Analysis of Foreign Tourism Demand for Croatian Destinations: Long-Run Elasticity Estimates," Tourism Economics, , vol. 13(3), pages 407-420, September.
    11. Junwook Chi, 2015. "Dynamic Impacts of Income and the Exchange Rate on US Tourism, 1960–2011," Tourism Economics, , vol. 21(5), pages 1047-1060, October.
    12. Nikolaos Dritsakis, 2004. "Tourism as a Long-Run Economic Growth Factor: An Empirical Investigation for Greece Using Causality Analysis," Tourism Economics, , vol. 10(3), pages 305-316, September.
    13. Bernardina Algieri, 2006. "An Econometric Estimation of the Demand for Tourism: The Case of Russia," Tourism Economics, , vol. 12(1), pages 5-20, March.
    14. Nicholas Apergis & Andrea Mervar & James E. Payne, 2017. "Forecasting disaggregated tourist arrivals in Croatia," Tourism Economics, , vol. 23(1), pages 78-98, February.
    15. James E Payne & Saban Nazlioglu & Andrea Mervar, 2023. "Economic policy uncertainty and international tourist arrivals: A disaggregated analysis of the Croatian Adriatic coast," Tourism Economics, , vol. 29(4), pages 986-1004, June.

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