Forecasting tourist arrivals to Balearic Islands using genetic programming
AbstractTraditionally, univariate time-series models have largely dominated forecasting for international tourism demand. In this paper, the ability of a genetic program (GP) to predict monthly tourist arrivals from UK and Germany to Balearic Islands, Spain is explored. GP has already been employed satisfactorily in different scientific areas, including economics. The technique shows different advantages regarding to other forecasting methods. Firstly, it does not assume a priori a rigid functional form of the model. Secondly, it is more robust and easy-to-use than other non-parametric methods. Finally, it provides explicitly a mathematical equation which allows a simple ad hoc interpretation of the results. Comparing the performance of the proposed technique against other method commonly used in tourism forecasting (no-change model, moving average and ARIMA), the empirical results reveal that GP can be a valuable tool in this field.
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Bibliographic InfoArticle provided by Inderscience Enterprises Ltd in its journal Int. J. of Computational Economics and Econometrics.
Volume (Year): 1 (2009)
Issue (Month): 1 ()
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Web page: http://www.inderscience.com/browse/index.php?journalID==311
genetic programming; tourism forecasting; Diebold-Mariano test; tourist arrivals; Balearic Islands; UK; United Kingdom; Germany; Spain.;
Other versions of this item:
- Marcos Álvarez Díaz & Josep Mateu Sbert & Jaume Rosselló Nadal, 2007. "Forecasting Tourist Arrivals to Balearic Islands Using Genetic Programming," CRE Working Papers (Documents de treball del CRE), Centre de Recerca EconÃ²mica (UIB Â·"Sa Nostra") 2007/02, Centre de Recerca Econòmica (UIB ·"Sa Nostra"), revised Jan 2007.
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