Page 33 - Azerbaijan State University of Economics

Konstantia Darvidou, Evangelos Siskos: Efficiency of International Tourism Marketing
for The Promotion of Tourist Products of Greek Companies in The European Market

Using growth rates and changes in the indicators for correlation analysis shows that
significant correlations exist between travel agencies and similar enterprises’ e-
commerce sales and arrivals of the EU tourists, but the number of the available data
is too low (5 years only). There is a potential but insignificant positive effect of
advertising Greek products and services in the EU.

Efficiency of other marketing channels cannot be proved yet with the available data,
considering lower correlations and missing data. The effect of other major factors such
as lockdowns and the pandemic may also affect the results. This may lead to volatility
in efficiency of marketing tools. According to table 5, there was an obvious drop in
efficiency of all marketing tools in 2020 by the ratio of the EU tourists’ expenditure
growth to the increase in use of a marketing channel by Greek tourism businesses.
Other periods of deterioration of efficiency were in 2015 and 2019. Increase in imports
of advertising, market research, and public opinion polling services from the EU was
the most efficient in 2016, increase in using websites with description and prices of
accommodation services in 2017, and increase in using social networks for marketing
accommodation services during recovery from the pandemic crisis.

Table 5. Trends in ratios of growth rates of the EU tourists’ expenditure in
Greece to change in marketing channels use (when it was positive)

Indicator in
denominator 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Imports of
advertising, market
research, and
public opinion 0.49 13.72 4.45 0.15 -0.15 -9.81 3.00
polling services
from the EU
Accommodation
enterprises' total -
turnover from e- 0.86 19.49 45.12 5.48
commerce sales
Accommodation
-
enterprises with a 2.92 1.27 -7.70 9.59 31.62 15.48 315.85 29.35
website
Accommodation
enterprises where
the website
provides 1.32 4.30 -1.39 3.73 13.24 -4.30 9.96
description of
goods or services,
price lists
Accommodation
-
enterprises where 7.26 1.33 4.16 11.29 -5.53 37.89 11.52
the website

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