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Online news media coverage regarding a destination, a form of big data, can affect destination image and influence the number of tourist arrivals. Sentiment analysis extracts the valence of an author's perception about a topic by rating a segment of text as either positive or negative. The sentiment of online news media can be viewed as a leading indicator for actual tourism demand. The aim of this study is to examine if web sentiment of online news media coverage of four European cities (Berlin, Brussels, Paris, and Vienna) possesses information to predict actual tourist arrivals. This study is the first to use web sentiment for forecasting tourism demand. Automated semantic routines were conducted to analyze the sentiment of online news media coverage. Due to the differing data frequencies of tourist arrivals (monthly) and web sentiment indicators (daily), the MIxed-DAta Sampling (MIDAS) modeling approach was applied. Results indicate that MIDAS models including various web sentiment indicators outperform time-series and naive benchmarks in terms of typical accuracy measures. This study shows that utilizing online news media coverage as an indication of destination image can improve tourism demand forecasting. Because destination image is dynamic, the results can vary depending on time period of the analysis and the destination. A managerial implication of the forecast evaluation exercise is that destination management organizations (DMOs) should add models incorporating web sentiment data to their forecast modeling toolkit to further improve the accuracy of their tourism demand forecasts.

Purpose: The purpose of this paper is to analyze the ex anteprojected future trajectories of real tourism exports and relative tourism export prices of the EU-15, conditional on expert real gross domestic product growth forecasts for the global economy provided by the Organisation for Economic Co-operation and Development for the years 2013-2017. Design/methodology/approach: To this end, the global vector autoregression (GVAR) framework is applied to a comprehensive panel data set ranging from 1994Q1 to 2013Q3 for a cross-section of 45 countries. This approach allows for interdependencies between countries that are assumed to be equally affected by common global developments. Findings: In line with economic theory, growing global tourist income combined with decreasing relative destination price ensures, in general, increasing tourism demand for the politically and macroeconomically distressed EU-15. However, the conditional forecast increases in tourism demand are under-proportional for some EU-15 member countries. Practical implications: Rather than simply relying on increases in tourist income, the low price competitiveness of the EU-15 member countries should also be addressed by tourism planners and developers in order to counter the rising competition for global market shares and ensure future tourism export earnings. Originality/value: One major contribution of this research is that it applies the novel GVAR framework to a research question in tourism demand analysis and forecasting. Furthermore, the analysis of the ex anteconditionally projected future trajectories of real tourism exports and relative tourism export prices of the EU-15 is a novel aspect in the tourism literature since conditional forecasting has rarely been performed in this discipline to date, in particular, in combination with ex anteforecasting.