Quantification of Tourism Sector Parameters Related to Competitiveness of Countries According to Macroeconomic Indicators
Beata Gavurova, Andrej Privara, Jana Janikova, Viliam Kovac
Keywords:
gross domestic product, competitiveness, employment, investment, expenditure, macroeconomic
indicator, cluster analysis
Abstract:
The paper investigates the relations of the macroeconomic indicators related to the
competitiveness of the tourism sector among the explored countries. The tourism sector plays
an important role with the purpose of contributing to the economy of each country and, thus, its
competitiveness among the other countries. The fundamental aim of the paper is to investigate
the relations between the macroeconomic indicators related to tourism and their influence on
the economy of the countries. The data set comprises the eight macroeconomic indicators, of
which the four ones are related to the gross domestic product, the two ones to employment, the
penultimate one to investment, and the last one to expenditure. The observed period covers the
years 1995 to 2019. The Euclidean distance is employed to evaluate the similarity of the countries
and the cluster analysis to group them successively. There are several patterns visible in the
analysis outcome. Firstly, the countries that behave differently for both groups of the indicators
with Mexico at the top position. Secondly, the countries with considerable change throughout
the observed period where Greece stands at the most extreme position for the gross domestic
product indicators and Hungary in the case of the other economic indicators. Thirdly, Chile
remains at the evenest position throughout the whole explored period for the first group of the
indicators and the United States for the second group of the indicators. Finally, Australia has
almost the same development for both groups at the evenest tendency.
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 Quantification of Tourism Sector Parameters Related to Competitiveness of Countries According to Macroeconomic Indicators [PDF file] [Filesize: 1.45 MB]
 10.7441/joc.2021.03.04
Gavurova, B., Privara, A., Janikova, J., & Kovac, V. (2021). Quantification of Tourism Sector
Parameters Related to Competitiveness of Countries According to Macroeconomic Indicators. Journal of
Competitiveness, 13(3), 56–72. https://doi.org/10.7441/joc.2021.03.04
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