Forecasting Daily Air Arrivals in Mallorca Island Using Nearest Neighbour Methods

Marcos álvarez Díaz and Josep Mateu-Sbert
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Marcos álvarez Díaz: Department of Economics, University of Vigo, Cidade Universitaria Lagoas-Marcosende s/n, 36310 Vigo, Spain
Josep Mateu-Sbert: Directorate General of Evaluation and Accreditation, Government of the Balearic Islands, Spain

Tourism Economics, 2011, vol. 17, issue 1, 191-208

Abstract: This paper investigates the feasibility of using different generalizations of the nearest neighbour method in a tourism forecasting problem. The method is widely employed in different fields of research but, inexplicably, it is practically unknown in tourism forecasting. The analysis is centred not only in knowing the exact value of arrivals (point prediction), but also in anticipating the direction of the sign movement (sign prediction). Furthermore, this study also offers further evidence on a subject scarcely treated in tourism economics: the searching of predictable non-linear dynamics. The results encourage the use of this technique and reveal the existence of a non-linear seasonal effect in the analysed tourism time series.

Keywords: tourism forecasting; nearest neighbour methods; surrogate data method; Mallorca (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:17:y:2011:i:1:p:191-208

DOI: 10.5367/te.2011.0022

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