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Modelling Tourist Arrivals with the Use of Differential Equations: The Case of Alternative Tourism in Greece

Gerassimos Bertsatos (), Zacharoula Kalogiratou (), Theodoros Monovasilis () and Nicholas Tsounis ()
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Gerassimos Bertsatos: University of Western Macedonia
Zacharoula Kalogiratou: University of Western Macedonia
Theodoros Monovasilis: University of Western Macedonia
Nicholas Tsounis: University of Western Macedonia

Chapter Chapter 58 in Advances in Empirical Economic Research, 2023, pp 937-946 from Springer

Abstract: Abstract Systems of ordinary differential equations are used for modelling alternative tourism demand in Greek regions at NUT3 level of disaggregation. Parameter estimation with nonlinear least squares is performed. It is found that tourist products of alternative tourism offered by different regions are complementary goods and that the growth of alternative tourism in a region is not sustainable by itself. Tourism packages combining tourist products from different regions are more desirable by tourists, and the state has to direct the sector in providing and advertising tourism products that combine tourist services from more than one region.

Keywords: Differential equations; Tourist arrivals; C63; Z31; Z32; Z38 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-22749-3_58

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DOI: 10.1007/978-3-031-22749-3_58

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