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Impacts of the Euro on the Slovenian Tourism Industry

Author

Listed:
  • Helena Nemec Rudez

    (University of Primorska, Slovenia)

  • Stefan Bojnec

    (University of Primorska, Slovenia)

Abstract

This paper examines the impacts of the Euro adoption in Slovenia on its tourism. For this purpose, the empirical research among foreign tourists in Slovenia was conducted on their perceptions of the Euro adoption in Slovenia during the second half of 2007. The multivariate factor analysis was performed, which confirmed the four common dimensions of the Euro impacts on Slovenian tourism: attractiveness, costs, expensiveness, and comparison. The mean values of the analyzed items indicate the most positive impacts of the Euro on the direct price comparison and the easiness of comparison among tourist destinations in the Euro zone. The empirical results suggest that the Euro adoption has had the greatest impacts on better comparisons among tourist destinations in the Euro zone, followed by a significant decline in travel-operational costs. The increase in the expensiveness of the destination among foreign tourists is confirmed, whereas no significant improvement in the attractiveness of Slovenia as a tourist destination was proved after the Euro adoption.

Suggested Citation

  • Helena Nemec Rudez & Stefan Bojnec, 2008. "Impacts of the Euro on the Slovenian Tourism Industry," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 6(4), pages 445-460.
    • Handle: RePEc:mgt:youmgt:v:6:y:2008:i:4:p:445-460
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    File URL: http://www.fm-kp.si/zalozba/ISSN/1581-6311/6_445-460.pdf
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    References listed on IDEAS

    as
    1. Salvador Gil‐Pareja & Rafael Llorca‐Vivero & José Antonio Martínez‐Serrano, 2007. "The Effect of EMU on Tourism," Review of International Economics, Wiley Blackwell, vol. 15(2), pages 302-312, May.
    2. Daniel Gros, 2002. "The euro for the Balkans?," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 10(2), pages 491-511, July.
    3. Nishaal Gooroochurn & Guntur Sugiyarto, 2005. "Competitiveness Indicators in the Travel and Tourism Industry," Tourism Economics, , vol. 11(1), pages 25-43, March.
    4. Tamara Rátz & Mátyás Hinek, 2006. "Implications of the Single European Currency for Hungarian Tourism," Tourism Economics, , vol. 12(4), pages 585-602, December.
    5. Daniel Gros, 2002. "The euro for the Balkans?," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 10(2), pages 491-511, July.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. María Santana-Gallego & Francisco Ledesma-Rodríguez & Jorge Pérez-Rodríguez, 2016. "The euro effect: Tourism creation, tourism diversion and tourism potential within the European Union," European Union Politics, , vol. 17(1), pages 46-68, March.
    2. Sergej Gricar & Štefan Bojnec, 2012. "Adoption of the Euro and Catering Industry Prices: The Case of Slovenia," Academica Turistica - Tourism and Innovation Journal, University of Primorska Press, vol. 5(1), pages 21-30.

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    More about this item

    Keywords

    the Euro adoption; European Union; Slovenian tourism; multivariate factor analysis;
    All these keywords.

    JEL classification:

    • C42 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Survey Methods
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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