Abstract

As part of competitive marketing strategies, tourism demand modeling plays an important role in destination management and marketing. This study incorporated the concept of Economic Sentiment Indicator (ESI) into tourism demand studies along with more traditional variables such as interest rate, relative price, and relative exchange rate. The study utilized ARIMA, and ARDL Bound Test approach to cointegration for the long and short-run elasticities using 15 tourist generating countries from the members of EU to Turkey. The study concludes that ESI is an effective tool and good indicator to gauge and monitor tourism demand.

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USING ECONOMIC SENTIMENT IN DESTINATION DEMAND MANAGEMENT

As part of competitive marketing strategies, tourism demand modeling plays an important role in destination management and marketing. This study incorporated the concept of Economic Sentiment Indicator (ESI) into tourism demand studies along with more traditional variables such as interest rate, relative price, and relative exchange rate. The study utilized ARIMA, and ARDL Bound Test approach to cointegration for the long and short-run elasticities using 15 tourist generating countries from the members of EU to Turkey. The study concludes that ESI is an effective tool and good indicator to gauge and monitor tourism demand.