Better understanding of exchange rate effects in destination marketing: Cases of the Czech Republic and Croatia

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60076658%3A12510%2F18%3A43898174" target="_blank" >RIV/60076658:12510/18:43898174 - isvavai.cz</a>

Result on the web

<a href="https://hrcak.srce.hr/index.php?show=clanak&id_clanak_jezik=312863" target="_blank" >https://hrcak.srce.hr/index.php?show=clanak&id_clanak_jezik=312863</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Better understanding of exchange rate effects in destination marketing: Cases of the Czech Republic and Croatia

Original language description

Exchange rates can be considered as one of the important determinants in tourism demand analysis especially at the national level, although sensitivity of demand to exchange rate changes may also vary by destination. The main goal of this paper is to compare the impact of changes in nominal exchange rates on the number of visitors from Eurozone countries in two specific destinations: Croatia, representing Southern Europe/Mediterranean predominantly ‘sun and sea’ destination and the Czech Republic, as a Central and Eastern European country and a typical cultural destination. A generalized linear model was used for data analysis and hypothesis testing. This paper identifies relationship between seasonally cleaned changes in the number of incoming tourists from Eurozone and average changes in monthly nominal exchange rate lagged between one and twelve months. The results show that there are significant differences in sensitivity of international tourism demand from Eurozone to changes in exchange rate between Czech Republic and Croatia and that delays in reaction to such changes are as expected different as well. The findings could improve short term forecasting of tourism demand as well as marketing targeting of destination management organization activities. The results of this study can be practically used by National Tourism Organizations (NTOs) for marketing activities, because it is possible to reveal the tourists’ behaviour from the source markets point of view. These findings, based on secondary data, could be used as a support tool for destination marketing, partially instead of primary data collection within the source markets.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50204 - Business and management

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2018

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Tourism: An International Interdisciplinary Journal

ISSN

1332-7461

e-ISSN

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Volume of the periodical

66

Issue of the periodical within the volume

4

Country of publishing house

HR - CROATIA

Number of pages

17

Pages from-to

379-395

UT code for WoS article

000454443800002

EID of the result in the Scopus database

2-s2.0-85061522575