Analiza wpływu czynników makroekonomicznych i kosztów życia na cenę pokoi hotelowych w wybranych miastach Europy
The Analysis of the Impact of Macroeconomic Factors and Costs of Living on the Price of Hotel Rooms in Selected European Cities

Summary/Abstract: The aim of the study is to analyze the impact of macroeconomic factors and costs of living on the price of hotel rooms in selected European cities. Data on hotel room prices come from the Booking.com portal (2677 hotels in 27 European cities), data on macroeconomic indicators come from the Eurostat database and data on the cost of livingin the analyzed cities are taken from Numbeo.com. The descriptive analysis of the structure was used to compare the average level and diversity of the endogenous and exogenous variables. The Pearson correlation coefficient was used to analyze the correlation between average hotel room prices in the analyzed cities and the level of selected macroeconomic factors and living costs of the cities studied. Six econometric models were estimated usingthe least-squares method, taking the endogenous variable average price of hotels in total and divided into categories in the analyzed cities. As a result of the study, it was found that the average price of hotel rooms is higher in countries with higher GDP per capita, lower economic growth, smaller disproportions in the income level of the population and in thecities with higher net income and costs of living. The size of the unemployment rate and the consumer price index does not have a statistically significant impact on the averageprice level of hotel services.

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