David Sung
KyungHee University School of Management Graduate School, South Korea
Title: The Effects of Google Trends on Tourism Industry in South Korea
Biography
Biography: David Sung
Abstract
This study deals with the effects of an online search engine on the level of tourism through analyzing any change in the amount of searched information. The paper has the purpose to improve the forecast of tourism industry into South Korea by utilizing of Google Trends data which provide the data is provided in a relative query and time series format of data. This particular work attempts to analyze Google Trends based on with 3 specific keywords, “hotels, flights and tour†that are searched by potential tourists around the world from the world to South Korea. We conduct this study through a series of multiple regression models with one- month time-lag in order to forecast for easily forecasting performance. Accordingly, the findings suggest that Google Trends can be a good source of estimating tourism industry. Therefore, the business strategy makers in tourism industry related of South Korea can easily utilize of the Google Trends data for their future decisions. This work was supported by the National Research Foundation of Korea Grant funded by the Korean Government (NRF-20141823)