Page 35 - 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

ET = -12.3 + 0.97EG+0.32WB
(-1.4) (4.0)*** (2.4)**

The second regression model estimates that on average increase in the share of
accommodation enterprises using social networks (SN) by 1 % resulted in 220 million
more income for Greece from the EU tourists (N=9, R2=0.66).

ET = -7.5 + 0.79EG+0.22SN
(-0.9) (2.7)** (1.9)*

The third regression model estimates that on average acceleration in increase in the
share of accommodation enterprises with a website providing description of goods or
services and price lists (WD) by 1 % resulted in 2% more growth of income for Greece
from the EU tourists (N=10, R2=0.82).

GET = -14.0 + 18.2EG+2.1WD
(-1.3) (5.7)*** (2.7)**

Using data by individual EU member states shows that in 2021 there was a positive
correlation between their tourists’ expenditure in Greece and imports (by Greek
tourism related businesses) of advertising and marketing research services from those
member states (0.36) and the services of travel agencies, tour operators reservation
service and related activities from them (0.38). The correlations are close to
significance (p<0.10). But after controlling for the GDP of the countries, the effect of
these imports becomes insignificant.

The highest ratio of tourists’ expenditure in Greece to imports of advertising and
marketing research services was in case of Luxemburg (13 thousand) and Czechia
(8.8 thousand) as countries of origin of tourists and the services. Relatively high ratios
were for Denmark (5.3 thousand), Estonia (4.8 thousand), Sweden (4.7 thousand),
Germany (4 thousand). The lowest ones were for Malta (19), Bulgaria (105) and
Belgium (107).

CONCLUSIONS
Statistics on digital marketing channels in the EU member states already allows
estimation of their popularity and efficiency. But limitation on the availability of the
data in earlier period means that the research results are preliminary and require
further verification in the subsequent years.

35