CONSIDERATIONS REGARDING THE HORECA INDUSTRY IN BIHOR COUNTY. AN ECONOMETRIC APPROACH

Abstract

The tourism and restaurant sectors contribute to the local economy in many ways and can ensure achieving the sustainable development goals. Since Bihor County presents great potential for the development of the HORECA industry, both locally and nationally, the main objective of this research was aimed towards studying the dynamics of the indicators specific to this field. More precisely, the main objective was to quantify the influence of indicators specific to the HORECA industry on the average monthly nominal net earnings in the industry in Bihor County. The multiple linear regression methodology (least squares method) was applied in this study, in order to validate or reject hypothesis that the average monthly nominal net earnings in the HORECA industry in Bihor County is strongly influenced by a series of specific indicators. Findings validate this hypothesis because the coefficient of determination indicates that the multiple linear equation successfully (78.89%) predicts the directions of influence between the previously mentioned indicators. Out of all the indicators included in the regression model, the increase with one unit of the relative change of the number of active enterprises in Bihor in the HORECA industry determines the biggest increase of the relative change in the average monthly nominal net earnings in the HORECA industry in Bihor, an increase with 1.058%, should the other exogenous variables remain constant.