IDEAS home Printed from https://ideas.repec.org/a/gam/jjrfmx/v14y2021i5p208-d549181.html
   My bibliography  Save this article

Evaluation of Market with Accommodation Facilities Considering Risk Influence—Case Study Slovakia

Author

Listed:
  • Adriana Csikosova

    (Department of Earth Sources, Faculty BERG, Technical University of Košice, Letná 9, 040 01 Košice, Slovakia)

  • Katarina Culkova

    (Department of Earth Sources, Faculty BERG, Technical University of Košice, Letná 9, 040 01 Košice, Slovakia)

  • Erik Weiss

    (Department of Commercial Entrepreneurship, Business Faculty with Seat in Košice, Economic University of Bratislava, Tajovského 13, 040 01 Košice, Slovakia)

  • Maria Janoskova

    (Department of Management with Seat in Poprad, Faculty of Education, Catholic University of Ružomberok, Nábrežie J.P.II. 15, 058 01 Poprad, Slovakia)

Abstract

Tourism currently contributes significantly to the national economy. When investing in the accommodation facility on the real-estate market, the tourism sector also represents a certain risk due to a high level of seasonality. This paper investigates the risks related to prices, income and occupancy of accommodation facilities for selected regions in Slovakia. The value of accommodation facilities is estimated using discounted cash flow, probabilistic distribution of rental prices and occupancy of accommodation facilities in selected Slovak regions. The results provide information for potential and profitable investments in exposed regions in tourism. The information can be used in the field of risk management to avoid or reduce the risk of risk investments. Although the resulting values were calculated only for some selected regions, the proposed procedure can be used for any region and compared with the current values.

Suggested Citation

  • Adriana Csikosova & Katarina Culkova & Erik Weiss & Maria Janoskova, 2021. "Evaluation of Market with Accommodation Facilities Considering Risk Influence—Case Study Slovakia," JRFM, MDPI, vol. 14(5), pages 1-17, May.
    • Handle: RePEc:gam:jjrfmx:v:14:y:2021:i:5:p:208-:d:549181
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1911-8074/14/5/208/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1911-8074/14/5/208/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Adamos Adamou & Sofronis Clerides, 2010. "Prospects and Limits of Tourism-Led Growth: The International Evidence," Review of Economic Analysis, Digital Initiatives at the University of Waterloo Library, vol. 2(3), pages 287-303, September.
    2. Niccolò Comerio & Fernanda Strozzi, 2019. "Tourism and its economic impact: A literature review using bibliometric tools," Tourism Economics, , vol. 25(1), pages 109-131, February.
    3. Sen Cheong Kon & Lindsay W. Turner, 2005. "Neural Network Forecasting of Tourism Demand," Tourism Economics, , vol. 11(3), pages 301-328, September.
    4. Antonakakis, Nikolaos & Dragouni, Mina & Filis, George, 2015. "How strong is the linkage between tourism and economic growth in Europe?," Economic Modelling, Elsevier, vol. 44(C), pages 142-155.
    5. Jacint Balaguer & Manuel Cantavella-Jorda, 2002. "Tourism as a long-run economic growth factor: the Spanish case," Applied Economics, Taylor & Francis Journals, vol. 34(7), pages 877-884.
    6. Arslanturk, Yalcin & Balcilar, Mehmet & Ozdemir, Zeynel Abidin, 2011. "Time-varying linkages between tourism receipts and economic growth in a small open economy," Economic Modelling, Elsevier, vol. 28(1-2), pages 664-671, January.
    7. Denis Camilleri, 2015. "Hotel valuations earning multipliers – terminal value: Malta’s scenario," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 33(3), pages 212-241, April.
    8. Paolo Figini & Laura Vici, 2010. "Tourism and Growth in a Cross Section of Countries," Tourism Economics, , vol. 16(4), pages 789-805, December.
    9. Chatziantoniou, Ioannis & Filis, George & Eeckels, Bruno & Apostolakis, Alexandros, 2013. "Oil prices, tourism income and economic growth: A structural VAR approach for European Mediterranean countries," Tourism Management, Elsevier, vol. 36(C), pages 331-341.
    10. Bangwayo-Skeete, Prosper F. & Skeete, Ryan W., 2015. "Can Google data improve the forecasting performance of tourist arrivals? Mixed-data sampling approach," Tourism Management, Elsevier, vol. 46(C), pages 454-464.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alica Tobisova & Andrea Senova & Robert Rozenberg, 2022. "Model for Sustainable Financial Planning and Investment Financing Using Monte Carlo Method," Sustainability, MDPI, vol. 14(14), pages 1-18, July.
    2. Oliver Cruz-Milan & Sergio Lagunas-Puls, 2021. "Effects of COVID-19 on Variations of Taxpayers in Tourism-Reliant Regions: The Case of the Mexican Caribbean," JRFM, MDPI, vol. 14(12), pages 1-23, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ceyhun Can OZCAN & Murat ASLAN & Saban NAZLIOGLU, 2017. "Economic freedom, economic growth and international tourism for post-communist (transition) countries: A panel causality analysis," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(2(611), S), pages 75-98, Summer.
    2. Luis Delfim Santos & Ana Catarina Vieira, 2020. "Tourism and regional development: a spatial econometric model for Portugal at municipal level," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 19(3), pages 285-299, September.
    3. Viorica Chirilă & Gina Ionela Butnaru & Ciprian Chirilă, 2020. "Spillover Index Approach in Investigating the Linkage between International Tourism and Economic growth in Central and Eastern European Countries," Sustainability, MDPI, vol. 12(18), pages 1-36, September.
    4. Mina Dragouni & George Filis & Nikolaos Antonakakis, 2013. "Time-Varying Interdependencies of Tourism and Economic Growth: Evidence from European Countries," FIW Working Paper series 128, FIW.
    5. Dogan, Ergun & Zhang, Xibin, 2023. "A nonparametric panel data model for examining the contribution of tourism to economic growth," Economic Modelling, Elsevier, vol. 128(C).
    6. Chia-Lin Chang & Thanchanok Khamkaew & Michael McAleer, 2012. "IV Estimation of a Panel Threshold Model of Tourism Specialization and Economic Development," Tourism Economics, , vol. 18(1), pages 5-41, February.
    7. Dutta, Nabamita & Kar, Saibal, 2018. "Relating rule of law and budgetary allocation for tourism: Does per capita income growth make a difference for Indian states?," Economic Modelling, Elsevier, vol. 71(C), pages 263-271.
    8. Liu, Jingjing & Nijkamp, Peter & Lin, Derong, 2017. "Urban-rural imbalance and Tourism-Led Growth in China," Annals of Tourism Research, Elsevier, vol. 64(C), pages 24-36.
    9. Prest, Brian C., 2018. "Explanations for the 2014 oil price decline: Supply or demand?," Energy Economics, Elsevier, vol. 74(C), pages 63-75.
    10. Muhammad Shahbaz & Román Ferrer & Syed Jawad Hussain Shahzad & Ilham Haouas, 2018. "Is the tourism–economic growth nexus time-varying? Bootstrap rolling-window causality analysis for the top 10 tourist destinations," Applied Economics, Taylor & Francis Journals, vol. 50(24), pages 2677-2697, May.
    11. Wu, Po-Chin & Liu, Shiao-Yen & Hsiao, Juei-Ming & Huang, Tsai-Yuan, 2016. "Nonlinear and time-varying growth-tourism causality," Annals of Tourism Research, Elsevier, vol. 59(C), pages 45-59.
    12. Martin Enilov & Yuan Wang, 2022. "Tourism and economic growth: Multi-country evidence from mixed-frequency Granger causality tests," Tourism Economics, , vol. 28(5), pages 1216-1239, August.
    13. Roberto Balado-Naves & David Boto-García & José Francisco Baños-Pino, 2024. "A multisector growth model for testing the Tourism-Led Growth versus the Beach Disease hypotheses," Efficiency Series Papers 2024/01, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).
    14. Ulrich Gunter & M. Graziano Ceddia & David Leonard & Bernhard Tröster, 2018. "Contribution of international ecotourism to comprehensive economic development and convergence in the Central American and Caribbean region," Applied Economics, Taylor & Francis Journals, vol. 50(33), pages 3614-3629, July.
    15. Blanka Škrabić Perić & Blanka Šimundić & Vinko Muštra & Marijana Vugdelija, 2021. "The Role of UNESCO Cultural Heritage and Cultural Sector in Tourism Development: The Case of EU Countries," Sustainability, MDPI, vol. 13(10), pages 1-14, May.
    16. Shahzad, Syed Jawad Hussain & Shahbaz, Muhammad & Ferrer, Román & Kumar, Ronald Ravinesh, 2017. "Tourism-led growth hypothesis in the top ten tourist destinations: New evidence using the quantile-on-quantile approach," Tourism Management, Elsevier, vol. 60(C), pages 223-232.
    17. Jorge V Pérez-Rodríguez & Heiko Rachinger & María Santana-Gallego, 2022. "Does tourism promote economic growth? A fractionally integrated heterogeneous panel data analysis," Tourism Economics, , vol. 28(5), pages 1355-1376, August.
    18. Jorge Ridderstaat & Robertico Croes, 2013. "The Force Field of Tourism," Review of Economic Analysis, Digital Initiatives at the University of Waterloo Library, vol. 5(1), pages 1-24, June.
    19. Paravee Maneejuk & Woraphon Yamaka & Wilawan Srichaikul, 2022. "Tourism Development and Economic Growth in Southeast Asian Countries under the Presence of Structural Break: Panel Kink with GME Estimator," Mathematics, MDPI, vol. 10(5), pages 1-17, February.
    20. Shahbaz, Muhammad & Ferrer, Román & Hussain Shahzad, Syed Jawad & Haouas, Ilham, 2017. "Is the tourism-economic growth nexus time-varying? Bootstrap rolling-window causality analysis for the top ten tourist destinations," MPRA Paper 82713, University Library of Munich, Germany, revised 04 Nov 2017.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jjrfmx:v:14:y:2021:i:5:p:208-:d:549181. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.