Open AccessSIMPLE TOURISM SECTOR DEVELOPMENT INDEX: CRISES VALUES
Author(s) -
Djordje Mitrović,
Sabina Taškar Beloglavec
Publication year - 2021
Publication title -
tourism in south east europe .../tourism in southern and eastern europe
Language(s) - English
Resource type - Conference proceedings
eISSN - 2706-2406
pISSN - 1848-4050
DOI - 10.20867/tosee.06.32
Subject(s) - tourism , index (typography) , soundness , government (linguistics) , composite index , construct (python library) , economics , regional science , macroeconomics , econometrics , computer science , geography , composite indicator , linguistics , philosophy , archaeology , world wide web , programming language
Purpose – The paper aims to construct a simple tourism sector development index reacting to crises occurrences. Methodology – Paper is two-folded, theoretical background with literature overview and empirical part based on the DEA method. Instead of using a vast number of different individual indicators measuring countries’ tourism performance, it is more appropriate to use one composite index to depict complex tourism development issues in a particular country. The composite index proposed in this paper TSDI, was developed using DEA encompassing tourism soundness and macroeconomic data. Findings – We are especially interested in index values in the 2019 COVID-19 pandemic crises relatively to the previous and following year. Therefore, the data time series include the annual data of selected truisms soundness factors from 2016 to 2020. The paper has three hypotheses dealing with simple tourism sector development index (TSDI) values during crises and the correlation of this calculated index to The Travel & Tourism Competitiveness Index (TTCI) and The Global Competitiveness Index (GCI). Contribution – The paper may offer some basic policy recommendations for policymakers as it may be applied as a relatively simple tool for professionals to assess future crises or economic shocks implications on the tourism sector. The TDSI proposed in this paper can point at the differences in countries’ responses to crises shock that could be influenced by government policies aimed at tourism sector development. TDSI is, due to its simplicity, a good tool for practitioners to use in monitoring and placing recommendations for improvements.