FACTORS INFLUENCING BUSINESS
ENVIRONMENT WITHIN TRAVEL
AND TOURISM COMPETITIVENESS
FACTORS INFLUENCING BUSINESS
ENVIRONMENT WITHIN TRAVEL
AND TOURISM COMPETITIVENESS
Author(s): Petra Vašaničová, Sylvia Jencova, Beata Gavurova, Radovan BačíkSubject(s): Economy, Tourism, Socio-Economic Research
Published by: Fundacja Centrum Badań Socjologicznych
Keywords: business environment; competitiveness; tourism; index; taxation; legislative conditions; factor analysis
Summary/Abstract: Business environment is an essential indicatorof a country's competitiveness in general, and in thetourism field in particular. The aim of this paper is toexamine whether indicators of the Business Environmentpillar of the Travel and Tourism Competitiveness Index(TTCI) share common factors. We use TTCI data ofseven indicators obtained from World EconomicForum’s Executive Opinion Survey for 119 countriesduring 2017 and 2019. Factor analysis shows twocommon factors, namely General legislative conditions(protection of property rights, regulations on foreigndirect investment, indicators of legal and judicial systems,and market dominance) and Taxation (specifically, itsextent and effect on incentives to work and invest). Dataof TTCI show that overall Switzerland, Singapore, HongKong, and Finland have the best business environment.Contrastingly, doing business is most difficult inVenezuela, Bolivia, and Mauritania. The specific findingsare very similar for both analysed years. The results of thisstudy could be useful in any attempts to manage thebusiness environment in travel and tourism.
Journal: Economics and Sociology
- Issue Year: 14/2021
- Issue No: 4
- Page Range: 268-282
- Page Count: 15
- Language: English