Academic Journal of Business & Management, 2025, 7(11); doi: 10.25236/AJBM.2025.071108.
Kangning Li, Jianhua Xiao
School of Economics and Management, Wuyi University, Jiangmen, China
Forecasting coastal tourism demand is crucial for promoting high-quality development of the marine economy. With the deepening of internet technology and the widespread adoption of its applications, online search indices can profoundly reflect the actual needs of tourists during their decision-making process. Therefore, utilizing network index to forecast coastal tourism demand is feasible. Taking Gulangyu Island in Xiamen as a case study, this paper employs a MIDAS model. It constructs a baseline ADL model, univariate and multivariate MIDAS model using high-frequency Baidu Index data and low-frequency Gulangyu tourist growth rates. These models forecast tourism demand for Gulangyu. Subsequently, the fitted data from these models undergo further prediction via the XGBoost machine learning algorithm. Finally, the Root Mean Square Error (RMSE) of each model's prediction results is compared. The results indicate that sudden health events significantly impact the accuracy of predictive models.Both the univariate and multivariate MIDAS models outperform the baseline ADL model in predictive capability.
Mixed-Frequency Data, MIDAS Model, Coastal Tourism, Demand Forecasting
Kangning Li, Jianhua Xiao. Mixed-Frequency Model Forecasting of Coastal Tourism Demand Based on Network Index. Academic Journal of Business & Management (2025), Vol. 7, Issue 11: 54-60. https://doi.org/10.25236/AJBM.2025.071108.
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