How do Accommodation Prices Affect Tourism in Slovakia? Own Price and Cross Price Elasticity of Demand in the Regions of Slovakia
Elena Hošková - Institute of Economics and Management, Faculty of Economics and Management, Slovak University of
Agriculture in Nitra, Tr. A. Hlinku č.2, 949 76 Nitra, Slovakia
Martin Richter - Institute of Economics and Management, Faculty of Economics and Management, Slovak University of
Agriculture in Nitra, Tr. A. Hlinku č.2, 949 76 Nitra, Slovakia
Iveta Zentková - Institute of Economics and Management, Faculty of Economics and Management, Slovak University of
Agriculture in Nitra, Tr. A. Hlinku č.2, 949 76 Nitra, Slovakia
DOI: https://doi.org/10.31410/tmt.2023-2024.93
Elena Hošková - Institute of Economics and Management, Faculty of Economics and Management, Slovak University of
Agriculture in Nitra, Tr. A. Hlinku č.2, 949 76 Nitra, Slovakia
Martin Richter - Institute of Economics and Management, Faculty of Economics and Management, Slovak University of
Agriculture in Nitra, Tr. A. Hlinku č.2, 949 76 Nitra, Slovakia
Iveta Zentková - Institute of Economics and Management, Faculty of Economics and Management, Slovak University of
Agriculture in Nitra, Tr. A. Hlinku č.2, 949 76 Nitra, Slovakia
DOI: https://doi.org/10.31410/tmt.2023-2024.93
8th International Thematic Monograph - Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade, 2023/2024, Published by: Association of Economists and Managers of the Balkans in cooperation with the Faculty of Tourism and Hospitality, Ohrid, North Macedonia; ISSN 2683-5673, ISBN 978-86-80194-81-3 ; Editors: Vuk Bevanda, associate professor, Faculty of Social Sciences, Belgrade, Serbia; Snežana Štetić, full time professor, The College of Tourism, Belgrade, Serbia, Printed by: SKRIPTA International, Belgrade
Abstract: The chapter aims to determine the impact of accommodation prices on the demand for accommodation in individual regions of the Slovak Republic. The data for the analysis were drawn from the Statistical Office of the Slovak Republic for the period January 2017 to June 2023 from individual regions of the Slovak Republic. Regression analysis was used. The results showed that the most visited regions are Bratislava, Žilina and Prešov regions with very significant seasonality. The forecast assumed that seasonality would be maintained into the next period. The estimated regression functions of demand showed that the quantity demanded for accommodation responds statistically significantly to its price, especially in the Nitra region, and demand is price elastic here. According to the coefficients of the cross-price elasticity of demand, accommodation in the Trenčín region was a substitute for accommodation in other regions in the period under consideration. The analysis showed that the demand for accommodation is influenced not only by the tourist attractiveness of the area but also by the price of accommodation.
Keywords: Accommodation demand; Price; Own price elasticity; Cross price elasticity
REFERENCES
Aslan, A. (2016). Does tourism cause growth? Evidence from Turkey. Current Issues in Tourism, 19(12), 1176-1184. https://doi.org/10.1080/13683500.2015.1015970
El Hafizah, N., Ahyudanari, E., & Lukitosari, V. (2023). Tourist Response as Water-based Seaplane Purposes for Island Tourism: A Literature Review. E3S Web of Conferences, 434, 02021. https://doi.org/10.1051/e3sconf/202343402021
Kasagranda, A., Gurňák, D., & Danielová, K. (2017). Congress tourism and fair tourism of Slovakia - quantification, spatial differentiation, and classification. Regional Statistics, 7(2), 75-100. https://doi.org/10.15196/rs070206
Kasagranda, A., Rajcáková, E., & Vystoupil, J. (2016). Urban tourism in Slovakia: Its quantification, spatial differentiation and typification. Geographica Pannonica, 20(2), 114-126. https:// doi.org/10.5937/geopan1602114k
Košíková, M., & Litavcová, E. (2019). Health tourism in Slovak medical spas. International Days of Statistics and Economics 2019. https://doi.org/10.18267/pr.2019.los.186.79
Kostková, M. (2017). Comparison of the Competetitiveness of the Tourist Attractiveness of the Moravian-siles. In: Region Globalization and its Socio-economic Consequences, PTS I – VI, 1078-1085.
Krogmann, A., Nemčíková, M., Oremusová, D., Ambrosio, V., & Mróz, F. (2017). Religiosity and its Reflexion in Tourismus in Slovakia. Konštantínove listy/Constantine‘s Letters, 10(2), 178-190. https://doi.org/10.17846/cl.2017.10.2.178-190
Li, H., Gao, H., & Song, H. (2023b). Tourism forecasting with granular sentiment analysis. Annals of Tourism Research, 103, 103667. https://doi.org/10.1016/j.annals.2023.103667
Li, J. J., Huang, L. M., He, M., & Ye, B. H. (2023a). Understanding pro-environmental behavior in tourism: Developing an experimental model. Journal of Hospitality and Tourism Management, 57, 213-224. https://doi.org/10.1016/j.jhtm.2023.10.005
Marceková, R., Sebova, L., Pompurová, K., & Simocková, I. (2021). Accesibli Tourism – Current State in Slovakia. Enterpreneurship and Sustainability Issues, 9(1), 66-86 https://doi. org/10.9770/jesi.2021.9.1
Montes, J. A. R., Marulanda-Valencia, F. A., & Muñoz, D. G. A. (2021). Strategic Management in Times of Covid-19: A Look from the Tourism Sector Accommodation Subsector. Revista Universidad Empresa. 23(41) https://doi.org/10.12804/revistas.urosario.edu.co/empresa/a.10376 Indexed 2021-12-31
Mura, L., & Ključnikov, A. (2018). Small Businesses in Rural Tourism and Agrotourism: Study from Slovakia. Economics & Sociology, 11(3), 286-300. https://doi.org/10.14254/2071-789x.2018/11-3/17
Nesic, M., Sosic-Radenkovic, B., & Zubanov, V. (2021). Sports Events in the Function of City Branding as tourist Destinations. Casopis za Ekonomiju I Trzisne Komunikacije, 11(2), 446-461, https://doi.org/10.7251/EMC2102446N
Pavlu, K., & Kotíková, S. (2018). Impact of Globalization on the Structure of Accomodation Capacities in the Border Area of the Former Sudetenland Globalization and its Socio-economic Consequences. ZU Zilina, 1283-1290 ISBN 978-80-8154-249-7.
Pellesová, P., & Zedková, A. (2015). Use of regression analysis to predict the attendance of cultural events: Example of the Moravian-Silesian Region. In Proceedings of the 33rd International Conference Mathematical Methods in Economics (pp. 624–628). University of West Bohemia, Faculty of Economics. ISBN 978-80-261-0539-8.
Petrícek, M., & Chalupa, S. (2020). Understanding customers’ online booking intentions using hotel big data analysis. Ad Alta Journal of Interdisciplinary Research, 10(1), 221–224. https://doi. org/10.1177/13567667221122107
Pompurová, K., Sokolová, J., & Cole, D. (2020). Domestic volunteer tourism demand in Slovakia. European Journal of Tourism Research, 25. https://doi.org/10.54055/ejtr.v25i.424
Štefko, R., Vasanicová, P., Litavcová, E., & Jencová, S. (2018). Tourism intensity in the NUTS III regions of Slovakia. Journal of Tourism and Services, 9(16). https://doi.org/10.29036/jots. v9i16.43
Strba, L., Kolackovská, J., Krsák, B., Sidor, C., & Lukác, M. (2022). Perception of the impacts of tourism by the administrations of protected areas and sustainable tourism (un)development in Slovakia. Sustainability, 14(11). https://doi.org/10.3390/su14116696
ŠÚSR. (n.d.). https://slovak.statistics.sk
Svec, R., Martinát, S., Pícha, K., Klusácek, P., Knotek, J., Schaefer, J. C., Brezinová, M., & Navrátil, J. (2021). What drives visitors to tourist sites to choose “green” accommodation facilities? Environment Development and Sustainability, 23(10), 15074–15099. https://doi.org/10.1007/ s10668-021-01286-3
Tavana, M., Mousavi, S. M. H., Mina, H., & Salehian, F. (2020). A dynamic decision support system for evaluating peer-to-peer rental accommodations in the sharing economy. International Journal of Hospitality Management, 91. https://doi.org/10.1016/j.ijhm.2020.102653
Xiao, M., & Zhai, C. (2022). Research on subsidy strategy of shared accommodation platform under the background of big data based on evolutionary game. Computational Intelligence and Neuroscience, 2022. https://doi.org/10.1155/2022/9066215
Keywords: Accommodation demand; Price; Own price elasticity; Cross price elasticity
REFERENCES
Aslan, A. (2016). Does tourism cause growth? Evidence from Turkey. Current Issues in Tourism, 19(12), 1176-1184. https://doi.org/10.1080/13683500.2015.1015970
El Hafizah, N., Ahyudanari, E., & Lukitosari, V. (2023). Tourist Response as Water-based Seaplane Purposes for Island Tourism: A Literature Review. E3S Web of Conferences, 434, 02021. https://doi.org/10.1051/e3sconf/202343402021
Kasagranda, A., Gurňák, D., & Danielová, K. (2017). Congress tourism and fair tourism of Slovakia - quantification, spatial differentiation, and classification. Regional Statistics, 7(2), 75-100. https://doi.org/10.15196/rs070206
Kasagranda, A., Rajcáková, E., & Vystoupil, J. (2016). Urban tourism in Slovakia: Its quantification, spatial differentiation and typification. Geographica Pannonica, 20(2), 114-126. https:// doi.org/10.5937/geopan1602114k
Košíková, M., & Litavcová, E. (2019). Health tourism in Slovak medical spas. International Days of Statistics and Economics 2019. https://doi.org/10.18267/pr.2019.los.186.79
Kostková, M. (2017). Comparison of the Competetitiveness of the Tourist Attractiveness of the Moravian-siles. In: Region Globalization and its Socio-economic Consequences, PTS I – VI, 1078-1085.
Krogmann, A., Nemčíková, M., Oremusová, D., Ambrosio, V., & Mróz, F. (2017). Religiosity and its Reflexion in Tourismus in Slovakia. Konštantínove listy/Constantine‘s Letters, 10(2), 178-190. https://doi.org/10.17846/cl.2017.10.2.178-190
Li, H., Gao, H., & Song, H. (2023b). Tourism forecasting with granular sentiment analysis. Annals of Tourism Research, 103, 103667. https://doi.org/10.1016/j.annals.2023.103667
Li, J. J., Huang, L. M., He, M., & Ye, B. H. (2023a). Understanding pro-environmental behavior in tourism: Developing an experimental model. Journal of Hospitality and Tourism Management, 57, 213-224. https://doi.org/10.1016/j.jhtm.2023.10.005
Marceková, R., Sebova, L., Pompurová, K., & Simocková, I. (2021). Accesibli Tourism – Current State in Slovakia. Enterpreneurship and Sustainability Issues, 9(1), 66-86 https://doi. org/10.9770/jesi.2021.9.1
Montes, J. A. R., Marulanda-Valencia, F. A., & Muñoz, D. G. A. (2021). Strategic Management in Times of Covid-19: A Look from the Tourism Sector Accommodation Subsector. Revista Universidad Empresa. 23(41) https://doi.org/10.12804/revistas.urosario.edu.co/empresa/a.10376 Indexed 2021-12-31
Mura, L., & Ključnikov, A. (2018). Small Businesses in Rural Tourism and Agrotourism: Study from Slovakia. Economics & Sociology, 11(3), 286-300. https://doi.org/10.14254/2071-789x.2018/11-3/17
Nesic, M., Sosic-Radenkovic, B., & Zubanov, V. (2021). Sports Events in the Function of City Branding as tourist Destinations. Casopis za Ekonomiju I Trzisne Komunikacije, 11(2), 446-461, https://doi.org/10.7251/EMC2102446N
Pavlu, K., & Kotíková, S. (2018). Impact of Globalization on the Structure of Accomodation Capacities in the Border Area of the Former Sudetenland Globalization and its Socio-economic Consequences. ZU Zilina, 1283-1290 ISBN 978-80-8154-249-7.
Pellesová, P., & Zedková, A. (2015). Use of regression analysis to predict the attendance of cultural events: Example of the Moravian-Silesian Region. In Proceedings of the 33rd International Conference Mathematical Methods in Economics (pp. 624–628). University of West Bohemia, Faculty of Economics. ISBN 978-80-261-0539-8.
Petrícek, M., & Chalupa, S. (2020). Understanding customers’ online booking intentions using hotel big data analysis. Ad Alta Journal of Interdisciplinary Research, 10(1), 221–224. https://doi. org/10.1177/13567667221122107
Pompurová, K., Sokolová, J., & Cole, D. (2020). Domestic volunteer tourism demand in Slovakia. European Journal of Tourism Research, 25. https://doi.org/10.54055/ejtr.v25i.424
Štefko, R., Vasanicová, P., Litavcová, E., & Jencová, S. (2018). Tourism intensity in the NUTS III regions of Slovakia. Journal of Tourism and Services, 9(16). https://doi.org/10.29036/jots. v9i16.43
Strba, L., Kolackovská, J., Krsák, B., Sidor, C., & Lukác, M. (2022). Perception of the impacts of tourism by the administrations of protected areas and sustainable tourism (un)development in Slovakia. Sustainability, 14(11). https://doi.org/10.3390/su14116696
ŠÚSR. (n.d.). https://slovak.statistics.sk
Svec, R., Martinát, S., Pícha, K., Klusácek, P., Knotek, J., Schaefer, J. C., Brezinová, M., & Navrátil, J. (2021). What drives visitors to tourist sites to choose “green” accommodation facilities? Environment Development and Sustainability, 23(10), 15074–15099. https://doi.org/10.1007/ s10668-021-01286-3
Tavana, M., Mousavi, S. M. H., Mina, H., & Salehian, F. (2020). A dynamic decision support system for evaluating peer-to-peer rental accommodations in the sharing economy. International Journal of Hospitality Management, 91. https://doi.org/10.1016/j.ijhm.2020.102653
Xiao, M., & Zhai, C. (2022). Research on subsidy strategy of shared accommodation platform under the background of big data based on evolutionary game. Computational Intelligence and Neuroscience, 2022. https://doi.org/10.1155/2022/9066215
| tmt.2023-2024.93.pdf |
Association of Economists and Managers of the Balkans
- UdEkoM Balkan -
179 Ustanicka St, 11000 Belgrade, Republic of Serbia
E-mail: [email protected]
www.udekom.org.rs
- UdEkoM Balkan -
179 Ustanicka St, 11000 Belgrade, Republic of Serbia
E-mail: [email protected]
www.udekom.org.rs
Tel. +381 62 812 5779
VAT number: 108747027
Registration number.: 28157347
Registration number.: 28157347