SEASONAL ANALYSIS OF TOURIST REVENUES: AN EMPIRICAL RESEARCH FOR GREECE

Abstract

This paper examines the role and factors of seasonality in tourist revenues in the case of Greece. The empirical analysis of the current research is conducted using quarterly data for the period 1960:I– 2005:IV. Osborn et. al. (1998), Miron (1994) and Hylleberg et al. (1990) tests for seasonal unit roots are used to examine deterministic and stochastic seasonality in the various series. The results revealed that tourist revenues in Greece are to some extent seasonal, which implies that most involving parties should extend tourist period aiming at developing tourism of all seasons. Finally, recommendations are provided to deal with the “problem” of seasonality.