Geomarketing - Tool for Consumer Spending Estimation in the Czech Tourism & Hospitality Market

• Main Authors: Radim Dušek, Petr Štumpf, Viktor Vojtko
• Format: Article
• Language: English
• Published: People & Global Business Association (P&GBA) 2019-03-01
• Series: Global Business and Finance Review
• Subjects: geomarketing; smes; consumer behaviour; tourism; hospitality; gis software
• Online Access: http://www.gbfrjournal.org/pds/journal/thesis/20190412162210-X13CQ.pdf

This paper deals with a source market size estimation tool that is based on a combination of geomarketing information and consumer spending datasets. We have decided to apply a proposed estimation method on three consumption expenditure groups that are related to the tourism and hospitality industry in the Czech Republic. The geographic and consumer spending data sets for the period 2011 - 2016 were drawn from publicly available sources. With the use of GIS software, this method allowed us to estimate and graphically display consumer spending on recreation and culture; restaurants and hotels; and transport in 2016 at the level of Czech districts, as well as the average annual growth rate during the period 2011 – 2016. This paper describes the Czech tourism and hospitality market from its size and growth point of view. It shows the trends in expenditures for hospitality and tourism services, explain the purchasing power in Czech regions and districts and predict the development for next few years. The results obtained by this low-cost method can be easily used by enterprises from the Czech Republic within domestic tourism, as well as by the foreign companies wanting to attract Czech visitors.