Civil aviation and tourism demand in Montenegro: A panel data approach
Purpose: The purpose of the paper is to investigate the role of civil aviation in the case of Montenegro, one of the smallest countries in Europe and one whose economy heavily relies on tourism. Methods: For this research, a dynamic panel data approach is used, where five models are proposed for...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
International Hellenic University
2023-06-01
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| Series: | Journal of Tourism, Heritage & Services Marketing |
| Subjects: | |
| Online Access: | https://www.jthsm.gr/vol9iss1/9-1-3.pdf |
| _version_ | 1797798184557215744 |
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| author | Iva Bulatovic Andreas Papatheodorou |
| author_facet | Iva Bulatovic Andreas Papatheodorou |
| author_sort | Iva Bulatovic |
| collection | DOAJ |
| description | Purpose: The purpose of the paper is to investigate the role of civil aviation in the case of Montenegro, one of the smallest countries in Europe and one whose economy heavily relies on tourism.
Methods: For this research, a dynamic panel data approach is used, where five models are proposed for modelling tourism demand. Available seats per kilometer, the Herfindahl–Hirschman index, jet fuel prices, exchange rates, and seasonality are used as the models’ explanatory variables, in line with the available litetrature.
Results: The econometric results show that all suggested models are valid, the explanatory variables are statistically significant, and their coefficients have the expected sign, suggesting a strong relationship between tourism demand and civil aviation.
Implications: Apart from being one of the first attempts to highlight the civil aviation and tourism nexus in the context of Montenegro, this paper contributes to the literature by suggesting a way forward for destination managers and policymakers in small countries with great tourism potential. |
| first_indexed | 2024-03-13T03:59:41Z |
| format | Article |
| id | doaj.art-15987355fe4349c78c2ac6900b67e5c6 |
| institution | Directory Open Access Journal |
| issn | 2529-1947 |
| language | English |
| last_indexed | 2024-03-13T03:59:41Z |
| publishDate | 2023-06-01 |
| publisher | International Hellenic University |
| record_format | Article |
| series | Journal of Tourism, Heritage & Services Marketing |
| spelling | doaj.art-15987355fe4349c78c2ac6900b67e5c62023-06-21T16:21:26ZengInternational Hellenic UniversityJournal of Tourism, Heritage & Services Marketing2529-19472023-06-0191253610.5281/zenodo.8054719Civil aviation and tourism demand in Montenegro: A panel data approachIva Bulatovic0https://orcid.org/0000-0003-0255-7294Andreas Papatheodorou1https://orcid.org/0000-0001-9484-7517HCT UniversityUniversity of the AegeanPurpose: The purpose of the paper is to investigate the role of civil aviation in the case of Montenegro, one of the smallest countries in Europe and one whose economy heavily relies on tourism. Methods: For this research, a dynamic panel data approach is used, where five models are proposed for modelling tourism demand. Available seats per kilometer, the Herfindahl–Hirschman index, jet fuel prices, exchange rates, and seasonality are used as the models’ explanatory variables, in line with the available litetrature. Results: The econometric results show that all suggested models are valid, the explanatory variables are statistically significant, and their coefficients have the expected sign, suggesting a strong relationship between tourism demand and civil aviation. Implications: Apart from being one of the first attempts to highlight the civil aviation and tourism nexus in the context of Montenegro, this paper contributes to the literature by suggesting a way forward for destination managers and policymakers in small countries with great tourism potential.https://www.jthsm.gr/vol9iss1/9-1-3.pdfaviationtourismtourism demandmontenegropanel data |
| spellingShingle | Iva Bulatovic Andreas Papatheodorou Civil aviation and tourism demand in Montenegro: A panel data approach Journal of Tourism, Heritage & Services Marketing aviation tourism tourism demand montenegro panel data |
| title | Civil aviation and tourism demand in Montenegro: A panel data approach |
| title_full | Civil aviation and tourism demand in Montenegro: A panel data approach |
| title_fullStr | Civil aviation and tourism demand in Montenegro: A panel data approach |
| title_full_unstemmed | Civil aviation and tourism demand in Montenegro: A panel data approach |
| title_short | Civil aviation and tourism demand in Montenegro: A panel data approach |
| title_sort | civil aviation and tourism demand in montenegro a panel data approach |
| topic | aviation tourism tourism demand montenegro panel data |
| url | https://www.jthsm.gr/vol9iss1/9-1-3.pdf |
| work_keys_str_mv | AT ivabulatovic civilaviationandtourismdemandinmontenegroapaneldataapproach AT andreaspapatheodorou civilaviationandtourismdemandinmontenegroapaneldataapproach |