Bhattacharjee, Biplab, Poudel, Aayush, Panta, Subin, Sharma, Sashwat and Pokharel, Samyak
(2025)
Forecasting the monthly tourist arrival from India to Nepal: an econometrics modeling approach.
In: 1st International Conference on Leveraging Emerging Technologies and Analytics for Development, LEAD 2024, 10 - 12 Dec 2024, Shillong.
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Abstract
Tourism is a crucial component of the economy in developing countries like Nepal. Nepal is a popular tourist destination for India due to its proximity, shared cultural heritage, and affinities between the people and their respective religions. This study attempts to develop an econometric forecasting model to predict the monthly arrivals from India to Nepal. The COVID-19 pandemic significantly impacted the travel and tourism industry, causing a structural break in the time series arrival data. Using monthly data from 2004 to 2034, the study applies time series models to address complexities such as seasonality, non-stationarity, and structural breaks (due to COVID-19). The findings reveal that an ARIMAX model incorporating Google search trends data performs better than traditional models based on several evaluative measures such as RMSE, MAPE, AIC, and Theil’s U. The proposed forecasting model can assist policymakers, hotel management, and event planners in estimating the level of tourism demand and making better managerial decisions.
Item Type: | Conference or Workshop Item (Paper) |
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Keywords: | Forecasting | Tourist Arrival | India | Nepal | Econometrics |
Subjects: | Social Sciences and humanities > Economics, Econometrics and Finance > Econometrics |
JGU School/Centre: | Jindal Global Business School |
Depositing User: | Mr. Arjun Dinesh |
Date Deposited: | 16 Jun 2025 12:39 |
Last Modified: | 16 Jun 2025 12:39 |
Official URL: | https://doi.org/10.1007/978-981-96-2548-2_8 |
URI: | https://pure.jgu.edu.in/id/eprint/9640 |
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