TR
EN
Performance Comparison of Holt-Winters and SARIMA Models for Tourism Forecasting in Turkey
Abstract
Forecasting the number of tourists coming to Turkey can play a vital role in strategic planning for both private and public sectors. In this study, monthly data of foreigners visiting Turkey were collected between the years 2007 and 2018. The data showed a seasonal behavior with an increasing trend; consequently, two methods were chosen for the study: Holt-Winters HW and Seasonal Autoregressive Integrated Moving Average SARIMA . The objective of the study is to determine the most appropriate forecasting model to achieve a good level of forecasting accuracy. The findings showed that all models provided accurate forecast values according to error measures. However, multiplicative model of HW achieved the highest forecasting accuracy followed by SARIMA and additive HW respectively.
Keywords
References
- Akal, M. (2004). Forecasting Turkey's tourism revenues by ARMAX model. Tourism Management, 25(5), 565-580.
- Athanasopoulosa, G., Hyndman, R. J., & Song, H., WU, D. (2011). The tourism forecasting competition. International Journal of Forecasting 27. 822–844.
- Bermúdeza, J. D., Segurab, J. V., Verchera, E. (2006). A decision support system methodology for forecasting of time series based on soft computing. Computational Statistics & Data Analysis. Volume 51, Issue 1, 177-191.
- Box, G., & Jenkins, G. (1970). Time Series Analysis-Forecasting and Control. San Francisco: Holden Day. 553 p.
- Brown, R. G., Meyer, R. F. (1961). The fundamental theory of exponential smoothing, Operations Research, 9 , p. 673-685 .
- Change, Y. W., Liao, M. Y., (2010). A Seasonal ARIMA Model of Tourism Forecasting: The Case of Taiwan. Asia Pacific Journal of Tourism Research, 15:2, 215-221.
- Close L. Jian, Y. Zhao, Y.P. Zhu, M.B. Zhang, D.Bertolatti. (2012). An application of ARIMA model to predict submicron particle concentrations from meteorological factors at a busy roadside in Hangzhou, China. Sci. Total Environ., 426, pp. 336-345.
- Cuhadar, M., Cogurcu, I., & Kukrer, C. (2014). Modelling and forecasting cruise tourism demand to Izmir by different artificial neural network architectures. International Journal of Business and Social Research, 4(3), 12-28.
Details
Primary Language
English
Subjects
-
Journal Section
-
Publication Date
July 1, 2020
Submission Date
-
Acceptance Date
-
Published in Issue
Year 2020 Volume: 21 Number: 2
APA
Zayat, W., & Sennaroglu, B. (2020). Performance Comparison of Holt-Winters and SARIMA Models for Tourism Forecasting in Turkey. Doğuş Üniversitesi Dergisi, 21(2), 63-77. https://izlik.org/JA75JC75SD
AMA
1.Zayat W, Sennaroglu B. Performance Comparison of Holt-Winters and SARIMA Models for Tourism Forecasting in Turkey. Doğuş Üniversitesi Dergisi. 2020;21(2):63-77. https://izlik.org/JA75JC75SD
Chicago
Zayat, Wael, and Bahar Sennaroglu. 2020. “Performance Comparison of Holt-Winters and SARIMA Models for Tourism Forecasting in Turkey”. Doğuş Üniversitesi Dergisi 21 (2): 63-77. https://izlik.org/JA75JC75SD.
EndNote
Zayat W, Sennaroglu B (July 1, 2020) Performance Comparison of Holt-Winters and SARIMA Models for Tourism Forecasting in Turkey. Doğuş Üniversitesi Dergisi 21 2 63–77.
IEEE
[1]W. Zayat and B. Sennaroglu, “Performance Comparison of Holt-Winters and SARIMA Models for Tourism Forecasting in Turkey”, Doğuş Üniversitesi Dergisi, vol. 21, no. 2, pp. 63–77, July 2020, [Online]. Available: https://izlik.org/JA75JC75SD
ISNAD
Zayat, Wael - Sennaroglu, Bahar. “Performance Comparison of Holt-Winters and SARIMA Models for Tourism Forecasting in Turkey”. Doğuş Üniversitesi Dergisi 21/2 (July 1, 2020): 63-77. https://izlik.org/JA75JC75SD.
JAMA
1.Zayat W, Sennaroglu B. Performance Comparison of Holt-Winters and SARIMA Models for Tourism Forecasting in Turkey. Doğuş Üniversitesi Dergisi. 2020;21:63–77.
MLA
Zayat, Wael, and Bahar Sennaroglu. “Performance Comparison of Holt-Winters and SARIMA Models for Tourism Forecasting in Turkey”. Doğuş Üniversitesi Dergisi, vol. 21, no. 2, July 2020, pp. 63-77, https://izlik.org/JA75JC75SD.
Vancouver
1.Wael Zayat, Bahar Sennaroglu. Performance Comparison of Holt-Winters and SARIMA Models for Tourism Forecasting in Turkey. Doğuş Üniversitesi Dergisi [Internet]. 2020 Jul. 1;21(2):63-77. Available from: https://izlik.org/JA75JC75SD