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Preliminary communication

Portfolio analysis of foreign tourist demand in Croatia

Zoran Ivanović ; University of Rijeka, Faculty of Tourism and Hospitality Management, Opatija, Croatia
Siniša Bogdan   ORCID icon orcid.org/0000-0002-3693-5321 ; University of Rijeka, Faculty of Tourism and Hospitality Management, Opatija, Croatia
Suzana Bareša ; University of Rijeka, Faculty of Tourism and Hospitality Management, Opatija, Croatia

Fulltext: english, pdf (760 KB) pages 149-162 downloads: 217* cite
APA 6th Edition
Ivanović, Z., Bogdan, S. & Bareša, S. (2018). Portfolio analysis of foreign tourist demand in Croatia. Ekonomski vjesnik, 31 (1), 149-162. Retrieved from https://hrcak.srce.hr/202004
MLA 8th Edition
Ivanović, Zoran, et al. "Portfolio analysis of foreign tourist demand in Croatia." Ekonomski vjesnik, vol. 31, no. 1, 2018, pp. 149-162. https://hrcak.srce.hr/202004. Accessed 7 Dec. 2019.
Chicago 17th Edition
Ivanović, Zoran, Siniša Bogdan and Suzana Bareša. "Portfolio analysis of foreign tourist demand in Croatia." Ekonomski vjesnik 31, no. 1 (2018): 149-162. https://hrcak.srce.hr/202004
Harvard
Ivanović, Z., Bogdan, S., and Bareša, S. (2018). 'Portfolio analysis of foreign tourist demand in Croatia', Ekonomski vjesnik, 31(1), pp. 149-162. Available at: https://hrcak.srce.hr/202004 (Accessed 07 December 2019)
Vancouver
Ivanović Z, Bogdan S, Bareša S. Portfolio analysis of foreign tourist demand in Croatia. Ekonomski vjesnik [Internet]. 2018 [cited 2019 December 07];31(1):149-162. Available from: https://hrcak.srce.hr/202004
IEEE
Z. Ivanović, S. Bogdan and S. Bareša, "Portfolio analysis of foreign tourist demand in Croatia", Ekonomski vjesnik, vol.31, no. 1, pp. 149-162, 2018. [Online]. Available: https://hrcak.srce.hr/202004. [Accessed: 07 December 2019]

Abstracts
Tourism is currently one of the most important sectors for the economic development of the Republic of Croatia. It mainly focuses on foreigners from within the EU. Because of the dynamic and very competitive tourist market, it is hard to forecast foreign tourism demand nowadays. It can vary over time among tourists of different nationalities. Stability of inbound tourist demand forms an important condition for the development of tourism and foreign currency income. Considering that tourism policy-makers must distribute available resources to different tourism markets for use in promotion, the purpose of this study is
to analyze, by country of origin, the number of overnight stays by inbound foreign tourists in accommodation establishments as well as their average daily spending in Croatia and to construct an optimal mixture of tourists of different nationalities that will help tourism policy-makers to optimize or maximize tourism revenues at a certain level of risk. The main idea of this research is to apply financial portfolio theory to Croatian tourism demand and to construct an optimal mixture of foreign inbound tourists when there is an infinite number of possibilities. Several optimal mixes were calculated with different risk/return options to show on which foreign tourist markets Croatia must focus. For example, to achieve the mixture of foreign tourists that provides the highest level of tourist consumption expenditures, tourism authorities should increase their resources on the German, Slovenian, Italian and Austrian markets. The results of this research can easily be modified according to policy maker’s risk/return preferences.

Keywords
Croatian tourism; portfolio theory; tourism demand; optimal market mix; inbound tourism

Hrčak ID: 202004

URI
https://hrcak.srce.hr/202004

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