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Visitor arrivals forecasts amid COVID-19: A perspective from the Africa team

COVID-19 disrupted international tourism worldwide, subsequently presenting forecasters with a challenging conundrum. In this competition, we predict international arrivals for 20 destinations in two phases: (i) Ex post forecasts pre-COVID; (ii) Ex ante forecasts during and after the pandemic up to...

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Detalles Bibliográficos
Autores principales: Kourentzes, Nikolaos, Saayman, Andrea, Jean-Pierre, Philippe, Provenzano, Davide, Sahli, Mondher, Seetaram, Neelu, Volo, Serena
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Ltd. 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9754959/
https://www.ncbi.nlm.nih.gov/pubmed/36540371
http://dx.doi.org/10.1016/j.annals.2021.103197
Descripción
Sumario:COVID-19 disrupted international tourism worldwide, subsequently presenting forecasters with a challenging conundrum. In this competition, we predict international arrivals for 20 destinations in two phases: (i) Ex post forecasts pre-COVID; (ii) Ex ante forecasts during and after the pandemic up to end 2021. Our results show that univariate combined with cross-sectional hierarchical forecasting techniques (THieF-ETS) outperform multivariate models pre-COVID. Scenarios were developed based on judgemental adjustment of the THieF-ETS baseline forecasts. Analysts provided a regional view on the most likely path to normal, based on country-specific regulations, macroeconomic conditions, seasonal factors and vaccine development. Results show an average recovery of 58% compared to 2019 tourist arrivals in the 20 destinations under the medium scenario; severe, it is 34% and mild, 80%.