On Employing of Extended Characteristic Surface Model for Forecasting of Demand in Tourism

Extended Characteristic Surface Model (eCSM) is a theoretical tool of general application designed for computing coefficients in stochastic (Monte Carlo) simulations particular multi equation econometric models. Econometric models are most often used economic analysis large enterprises as well national economies but rarely the small entities. The reason very high costs building and testing such large-scale However, presented hereby eCSM delivers not so expensive, rather intuitive flexible method eligible consumer sentiment forecasting what-if inferring suitable entities all sizes. In particular, it allows demand variation resulting from messages concerning competing merchandises. article focused on evaluation forecast tourism. work extended characteristic surface explained thorough details, furthermore influence factors demographic structure, prices or market size financial outcomes analyzed example touristic entity. This licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.