Impact of the variables on tourism
This family of indices compares current values of the four main meteorological variables with their historical value, yielding as a result a parameter that indicates how those variables are deviating, as a group, from their past behavior.
Making the assumption that colder temperature, more precipitation, less sunshine, and greater wind speed can be generally categorized as negative developments for the tourism sector, a value of +1 would be assigned whenever the current measure of each of the variables is tourism-friendly and a value of -1 would be assigned whenever the current measure of each of the variables is tourism-unfriendly. The value of the index would then be the average of the individual values of each of the four variables.
However, these indices won´t perfectly capture the sensibility of the tourism sector to the weather, but they can, nonetheless, add substantial value when it comes to setting today´s meteorology in a historical context.
BME Market Data
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