Corporate Finance

February 9, 2024

Sharmaine Marshall

UD78058BHO87269

Transforming Demand Forecasting in Guyana's Tourism and Hospitality Sector through Artificial Intelligence

This document explores innovative demand forecasting methods in the tourism and hospitality sector of Guyana, emphasizing the use of Artificial Intelligence and Multilayer Perceptron Algorithm ANNs. It compares these advanced techniques with traditional approaches, highlighting their potential to enhance accuracy and efficiency in predicting consumer demand.

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Abstract: This study investigates the application of Artificial Neural Networks (ANNs) in demand forecasting within Guyana’s rapidly evolving tourism and hospitality sector. With a record number of visitors and the expansion of new hotels, accurate demand forecasting is essential for optimizing resources and enhancing business performance. The research presents a novel framework that integrates AI techniques to improve forecasting accuracy, providing valuable insights for practitioners in the industry.

Keywords: Demand Forecasting, Tourism, Artificial Neural Networks, Hospitality Sector, Artificial Intelligence

This publication aims to contribute to the existing literature on tourism demand forecasting and offers practical implications for industry stakeholders seeking to adapt to changing market conditions.

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