Stable development of travel business in the Odessa region: Estimate using multivariate statistical analysis

Abstract

The article examines the level of sustainable development of the travel business in the Odessa region of Ukraine. This level is evaluated as a latent indicator, which is characterized by a certain set of signs-symptoms. The methodology used for modeling is Partial Least Squares-Path Modelling (or PLS-PM) and the method Time-Wise Multi-Way Principal Component Analysis. This approach allowed us to identify and evaluate latent and explicit factors affecting the sustainable development of travel business in the Odessa region.

Keywords

• travel business
• sustainable development
• time-wise multi-way principal component analysis
• partial least squares-path modelling