1. INTRODUCTIONTourism is recognized as the fastest growing industry, contributing 9% to international GDP in 2012 (World Travel and Tourism Council, 2013). As a result, changes in demand for tourism products affect all sectors of an economy (Stabler, Papatheodorou and Sinclair, 2009). It is not surprising that various countries want to promote the development of tourism as an economic engine. The last three years have witnessed positive dynamics in the development of inbound tourism in Ukraine. Thanks to the 12% growth in international arrivals in 2012, Ukraine ranked 9th among the most visited countries in Europe with more than 23 million arrivals. visitors (World Tourism Organization, 2013). Despite the fact that over the last two decades, series of econometric studies have been carried out to describe the factors that influence tourism demand for a specific destination (Witt and Martin, 1987; Smeral et al., 1992; Crouch, 1994), there is not much in-depth research on this topic in Ukraine. The main studies on Ukrainian tourism demand were carried out after major events such as Eurovision 2005 or Euro-2012 organized in the country (Malyugina, 2006, Ditkovska, 2007, Drabyk, 2008, Kozlovskyy, 2010, Voronin, 2012) and always focus on quality rather than measurement. quantitative side of phenomena. This may be predetermined by the low share of tourism in the national economy (8.1% in 2012, (World Travel & Tourism Council, 2013). Ukrainian researcher Mazurets (2009) claims that this state is due to the lack of attention from the population, the insufficient amount of foreign investment and the weakness of the regulatory framework. Therefore, the aim of this article is to determine the relationships between the number of tourist arrivals in Ukraine of five E. ...... middle of paper..... ..Despite the argument of the significant impact of transport costs on the importation of tourists to the destination (Walsh, 1996/1997), we decided to exclude it from the current research for 3 main reasons First, since 4 out of 5 countries included it in our study, sharing a border with Ukraine, the travel distances appear to be short. Tourists arrive by car, thereby minimizing the expenses required to get to their destination. Second, previous studies indicate problems in accurately measuring actual transportation. because transport companies, especially airlines, often introduce different pricing policies for the same category of travelers (Lim, 1999). Finally, the reported variable is strongly multicollinear with per capita income at the destination (Mervar & Payne, 2007). The reported variables were calculated as follows (Appendices A, B, C):