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Modelling Tourist Arrivals with the Use of Differential Equations: The Case of Alternative Tourism in Greece

In: Advances in Empirical Economic Research

Author

Listed:
  • Gerassimos Bertsatos

    (University of Western Macedonia)

  • Zacharoula Kalogiratou

    (University of Western Macedonia)

  • Theodoros Monovasilis

    (University of Western Macedonia)

  • Nicholas Tsounis

    (University of Western Macedonia)

Abstract

Systems of ordinary differential equations are used for modelling alternative tourism demand in Greek regions at NUT3 level of disaggregation. Parameter estimation with nonlinear least squares is performed. It is found that tourist products of alternative tourism offered by different regions are complementary goods and that the growth of alternative tourism in a region is not sustainable by itself. Tourism packages combining tourist products from different regions are more desirable by tourists, and the state has to direct the sector in providing and advertising tourism products that combine tourist services from more than one region.

Suggested Citation

  • Gerassimos Bertsatos & Zacharoula Kalogiratou & Theodoros Monovasilis & Nicholas Tsounis, 2023. "Modelling Tourist Arrivals with the Use of Differential Equations: The Case of Alternative Tourism in Greece," Springer Proceedings in Business and Economics, in: Nicholas Tsounis & Aspasia Vlachvei (ed.), Advances in Empirical Economic Research, chapter 0, pages 937-946, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-22749-3_58
    DOI: 10.1007/978-3-031-22749-3_58
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    Keywords

    Differential equations; Tourist arrivals;

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