EU MEMBERS MULTI-CRITERIA RANKING ACCORDING TO SELECTED TRAVEL INDUSTRY INDICATORS
EU MEMBERS MULTI-CRITERIA RANKING ACCORDING TO SELECTED TRAVEL INDUSTRY INDICATORS

Author(s): Ivana Marjanović, Žarko Rađenović, Milan Marković
Subject(s): Tourism
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: ENTROPY; Tourism Development Evaluation; MOORA; ARAS.
Summary/Abstract: As a multidimensional phenomenon that contributes to the economic growth and development of the country, tourism is an important sector for every national economy. Countries with developed tourism sector acquire more benefits than the countries with poorly developed or underdeveloped tourism. For assessment of the tourism development, multi-criteria decision-making techniques can be applied. In this paper, the tourism development of European Union (EU) Member States was analyzed based on selected travel and tourism industry indicators using Multi-Objective Optimization by Ratio Analysis (MOORA) and a new Additive Ratio Assessment (ARAS). The results indicate that Western and Southern European countries have the most developed tourism sector. Results also enable EU Member States to assess their relative position which might be of use to their policy makers.

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