Tagged / dimitrios buhalis
new paper published Volchek, K., Liu, A., Song, H., & Buhalis, D. (2018) Forecasting tourist arrivals at attractions: Search engine empowered methodologies. Tourism Economics. https://doi.org/10.1177/1354816618811558
Tourist decision to visit attractions is a complex process influenced by multiple factors of individual context. This study investigates how the accuracy of tourism demand forecasting can be improved at the micro level. The number of visits to five London museums is forecast and the predictive powers of Naïve I, seasonal Naïve, seasonal autoregressive moving average, seasonal autoregressive moving average with explanatory variables, SARMAX-mixed frequency data sampling and artificial neural network models are compared. The empirical findings extend understanding of different types of data and forecasting algorithms to the level of specific attractions. Introducing the Google Trends index on pure time-series models enhances the forecasts of the volume of arrivals to attractions. However, none of the applied models outperforms the others in all situations. Different models’ forecasting accuracy varies for short- and long-term demand predictions. The application of higher frequency search query data allows for the generation of weekly predictions, which are essential for attraction- and destination-level planning.
Keywords: artificial intelligence, attractions, forecasting, Google Trends, search engine, tourist demand
FP7 has unfairly gained a reputation as being extremely difficult to obtain. The latest figures released from the EC show that FP7 actually had a success rate of 21% last year (a massive €3.9 billion of research funding was distributed through 63 calls for proposals). Our recent blogpost on Research Councils show that the EC is actually higher than many of our home funders.
The statistically greater chance of success, coupled with the added benefits of gaining EU funding as testified by BU academics such as Sherry Jeary and Dimitrios Buhalis shows that we should all be looking to the EU for funding. If you are a BU member of staff and have an idea for EU funding you want to discuss, drop me an email.