STATISTICAL TECHNIQUES FOR ANALYZING THE IMPACT OF THE MACROECONOMIC DETERMINANTS OF FOREIGN TOURISM DEMANDS IN ROMANIA

Nowadays, technology is the prime element worldwide, used on a daily basis to ease and improve companies and indivduals' lives. The evolution of technology conducted to the apparition of new economic branches and business models, such as the sharing economy. These models led to the progress of the online infrastructure, which stimulates a better interaction between providers and consumers, improving the level of quality with regards to services and products. One of the pioneers in this domain is the giant Airbnb which activates in the tourism field on a global level, beeing implicated in the economic transition. The scope of this paper is to analyze the impact of the macroeconomic determinants of the foreign tourism demands in Romania, using the linear panel regression model. The analysis was performed on annual panel data corresponding to a number of 23 EU member states. According to the obtained results, during the interval 2012-2018, an increase of 1% in relative costs of living of tourists lead to a subsequent decrease of 1.45% in nights spent by foreign tourists in holiday and other short-stay accommodation units. This study is useful for all legal entities, entrepreneurs and individuals involved in the tourism field for their business strategies with regards to the quality of services that generates economical growth.