Analysis of the Main Components in the Evaluation of Tourism Performance in Romania (2014-2022): Essential Dimensions and Strategic Directions for Sustainable Development

Roxana-Marcela Zaharia () and Cristina Elena Georgescu ()
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Roxana-Marcela Zaharia: “Ovidius” University of Constanța, Doctoral School of Business Administration, Romania
Cristina Elena Georgescu: “Ovidius” University of Constanța, Faculty of Economic Sciences, Romania

Ovidius University Annals, Economic Sciences Series, 2024, vol. XXIV, issue 2, 332-340

Abstract: Tourism contributes significantly to economic and social development, but in Romania it faces challenges related to the capitalization of resources and infrastructure development. This study applies the Principal Component Analysis (PCA) to data from 2014-2022, provided by the National Institute of Statistics (INS), to identify the essential dimensions influencing tourism performance. The indicators analysed include the share of tourism in GDP, international arrivals, average length of stay and regional distribution of tourist flows. The results highlight two main dimensions: the attractiveness of destinations and the economic contribution. The first two components explain 94.77% of the total variation, Component 1 being dominated by variables associated with destinations (e.g., „Mountain”), and Component 2 by economic variables (e.g., „PondTurPIB”). The temporal evolution shows a decline in 2020 caused by the COVID-19 pandemic, followed by a partial recovery in 2021-2022. The study contributes to understanding the dynamics of Romanian tourism and provides recommendations for public policies focused on diversification of the offer and investments in infrastructure, supporting the competitiveness and sustainability of the sector.

Keywords: Tourism; analysis; destinations; economic contribution; development (search for similar items in EconPapers)
JEL-codes: B26 C1 F63 Z3 (search for similar items in EconPapers)
Date: 2024
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