THE MODEL OF EXPRESSING REVENUES THROUGH SUSTAINABLE DEVELOPMENT VARIABLES ON THE EXAMPLE OF NAUTICAL PORTS IN CROATIA

Eli Marusic ()
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Eli Marusic: University of Split

Economic Thought and Practice, 2021, vol. 30, issue 2, 367-392

Abstract: The economic prosperity of maritime regions depends on the development of nautical ports and related activities. Therefore, nautical ports and nautical tourism are essential for the creation of jobs and revenues and for the coastal and island communities' overall social and economic development. Moreover, high revenues generated by nautical tourism have a significant share in total revenues from tourism as the primary source of income in the Croatian economy. Therefore, this paper investigates the total revenues of nautical ports by proposing a model consisting of three steps: 1) classification of input variables into three categories: environmental, social, and economic according to the fundamental aspects of sustainable development; 2) application of the principal component analysis to each category to form new variables as representatives of the categories; 3) application of the multiple regression method for the analysis of total revenues. Statistical analysis and comparison of the results show that the proposed model well expresses the total revenues, r2 = 0.92, with confirmed statistical significance. Thus, the analysis and the proposed model enable not only a more objective understanding of the observed system, but also the analysis of its sustainable development, and a decision-making process.

Keywords: revenue model; economic variables; environmental variables; social variables; nautical ports (search for similar items in EconPapers)
JEL-codes: L83 Q56 Z30 Z32 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.17818/EMIP/2021/2.3

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