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Modeling the Tourism Market Behavior Based on Discrete Equilibrium Models 'Supply – Price – Demand'

Authors :
Novakivskyi Ihor
Kulyniak Ihor
Dziurakh Yurii
Ohinok Solomiya
Ukrainets Lilia
Source :
ECONOMICS, Vol 12, Iss 3, Pp 33-53 (2024)
Publication Year :
2024
Publisher :
Sciendo, 2024.

Abstract

The work is devoted to the modeling of the behavior of the tourism market in the conditions of a supply random lag, distributed according to normal and uniform distribution laws. The behavior of dependences on the tourist market of supply and demand on the price is considered. The modeling of the behavior of the tourism market was carried out using a market dynamic model in the plane of variables “supply – price – demand” taking into account the interests of different groups of consumers, primarily from the point of view of pricing. The delay between changes in supply and demand volumes is taken into account using a Cobweb model. To test this method, information was collected on family expenses when traveling abroad (outbound tourism, tourist vacations lasting 7-15 days) by surveying the employees of 38 travel organizations as of 2021. Three segments of the tourism market are identified: low ($2000 − 4000), medium ($4000 − 12000), and VIP-segment ($12,000 − 20,000). The analysis of the modeling results showed that the behavior of tourists of different segments can significantly influence the market dynamics. The use of a Cobweb model allowed for determining the level of stability of tourist behavior and assessing the possibility of consumer migration from one segment to another. Sensitivity to price changes and response to new offers from different segments can be different, which is important for determining pricing strategies, marketing, and the development of new tourism products.

Details

Language :
English
ISSN :
23035013
Volume :
12
Issue :
3
Database :
Directory of Open Access Journals
Journal :
ECONOMICS
Publication Type :
Academic Journal
Accession number :
edsdoj.6ede96485a934e168c7d061e42d7a413
Document Type :
article
Full Text :
https://doi.org/10.2478/eoik-2024-0036