БЪЛГАРСКИТЕ НАЦИОНАЛНИ ТУРИСТИЧЕСКИ КОМПЛЕКСИ: ЕМПИРИЧЕН АНАЛИЗ ПРЕДИ И ПРИ ПАНДЕМИЯТА COVID – 19
THE BULGARIAN NATIONAL TOURIST COMPLEXES: EMPIRICAL ANALYSIS BEFORE AND DURING COVID-19 PANDEMIC

Author(s): Vesela Dimitrova
Subject(s): Economy, Tourism, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: tourism; panel data; fixed-effects model
Summary/Abstract: The national resort complexes have a significant role for the tourism in Bulgaria. The goal of this paper is to build and estimate an econometric model of the revenue from the overnight stays and the realized overnight stays at the resort complexes of national importance for Bulgaria under the influence of the COVID-19 pandemic. The goal is achieved, on one hand, by analysing the dynamics and the structure of the following indicators: accommodation places, beds, overnight stays and income from overnight stays, and on the other hand, by building, estimating and analysing an econometric model with panel data. For this purpose, fixed-effects least squares dummy variable (LSDV) panel regression is implemented. The results of the estimated panel model show the impact of the overnight stays on the overnight revenues from them under the shock conditions resulting from the COVID-19 pandemic. There are noticeable differences regarding the impact of the pandemic crisis on the overnight stays and the revenues from them, both between the Bulgarian and the foreign citizens and between the mountain and the sea resorts of Bulgaria. The obtained results provide an enrichment of the knowledge about functioning dependencies in tourism, which can serve for justifying relevant management policies in tourism.

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