Application of Multiple Regression Analysis in modeling the role of the hotel industry in a country's economy

Buljat Maja (), Herman Suzana () and Covic Kristijan ()
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Buljat Maja: University of Applied Sciences, Zaprešić, Croatia
Herman Suzana: University of Rijeka, Faculty of Tourism and Hospitality Management, Opatija, Croatia
Covic Kristijan: University of Applied Sciences, Zaprešić, Croatia

Journal of Economic and Social Development, 2022, vol. 09, issue 02, 01-10

Abstract: The aim of this paper is to present the relationship between independent variables that represent one of the indicators of hotel operations and their importance for the country's economic development as measured by gross domestic product in the activities of providing lodging and food and beverage services. The research sample consists of hotel enterprises located on the territory of the Republic of Croatia that provided yearly financial statements from 2002 to 2018. Multiple linear regression analysis revealed a strong significant link between the set variables within the model, indicating that the given independent variables are significant predictors of gross domestic product in the activity of providing accommodation and food and beverage preparation and service, confirming the positive impact of hotel operations on economic development.

Keywords: Hotel industry; economy; Croatia; multiple regression analysis (search for similar items in EconPapers)
JEL-codes: A11 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ris:joeasd:0046

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