Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2021.2019078
Tourism price normalities in two Adriatic east coast ’euro’ countries
Sergej Gričar
Štefan Bojnec
Vesna Karadžić
Tamara Backović
Sažetak
This debut work offers a stunning look at real vs nominal prices
that consider more than just inflation. The inadequate examination of hospitality price comparison is investigated between two
non-neighbouring Adriatic east coast countries – Slovenia and
Montenegro – using the euro. Hospitality prices are an essential
indicator in hospitality markets, destination marketing and management planning. Using 73 monthly time-series data for the economic crisis period from December 2008 to December 2014, this
period covers one shock in a series. One of the key managerial
features of cointegrated spatial hospitality price spread was that
Montenegro followed Slovenian hospitality prices. Hospitality prices in Montenegro and Slovenia tend to be weakly integrated
into the long term and seasonally driven in the short term. In
addition, the econometric experimentation has given a theoretical
novelty for underpinned and undermined tourism economy modelling in normalities. This state-of-the-art econometric feature is
included in a customary vector error correction model (VECM).
Robust applied results recognise that hospitality prices in
Montenegro are domestic driven and in Slovenia Eurozone driven.
This finding is relevant for applied economics on obtaining a normally distributed price model. Its theoretical and managerial
implications are vital for hospitality economics, marketing and
tourism management.
Ključne riječi
Tourism price development; Adriatic east coast countries; normally distributed model
Hrčak ID:
302778
URI
Datum izdavanja:
31.3.2023.
Posjeta: 130 *