The aim of this article is to investigate the linearities and causalities between Slovenian tourism and macroeconomic aggregates. The monthly time‐series data for the drivers of the rise in the Slovenian hospitality industry prices are tested in the vector autoregressive framework and smooth transition autoregressive model during the 3 specific subperiods. The results are robust for the applied linear methods on prices and value‐added tax sensitive tourist demand and for the applied nonlinear methods on exchange rate and labor costs. Granger causality tests confirmed 5 correlations in the set of 3 hypotheses. Input costs are significant drivers for the rise of the Slovenian hospitality industry prices.
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Gričar et al. (2017) studied this question.
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