George EKONOMOU
Post-Doctoral Researcher, University of Thessaly
goikonomou@uth.gr
Dimitris KALLIORAS
Professor, University of Thessaly
dkallior@uth.gr
Abstract
The purpose of this study is to investigate how technical efficiency and productivity patterns changed in the Eurozone’s tourism sector over the period 1996-2019. To achieve this, a Slack-Based Measure (SBM) within the Data Envelopment Analysis (DEA) framework was employed. A key strength of this study lies in the carefully selected, multidimensional set of variables that captures the economic and structural heterogeneity of the tourism sector. To strengthen our approach, we also used proxies for environmental degradation. Results reveal an average efficiency score of 0.53 for input-oriented DEA and 0.81 for output-oriented DEA, whereas the Malmquist index score is 1.026. Panel results indicate a positive and significant effect of renewables on technical efficiency. Granger’s causality test reveals a unidirectional relationship from renewables to output-oriented technical efficiency. Practical implications call for practices that reduce environmental burdens while simultaneously increasing desirable revenue outcomes.
Keywords: tourism, economy, sustainability
JEL classification: O47, Z32, Q56
pp. 175-191