Application of Multiple Regression Analysis in modeling the role of the hotel industry in a country's economy

Abstract

The aim of this paper is to present the relationship between independent variables that represent one of the indicators of hotel operations and their importance for the country's economic development as measured by gross domestic product in the activities of providing lodging and food and beverage services. The research sample consists of hotel enterprises located on the territory of the Republic of Croatia that provided yearly financial statements from 2002 to 2018. Multiple linear regression analysis revealed a strong significant link between the set variables within the model, indicating that the given independent variables are significant predictors of gross domestic product in the activity of providing accommodation and food and beverage preparation and service, confirming the positive impact of hotel operations on economic development.

Keywords

• hotel industry
• economy
• croatia
• multiple regression analysis