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Tourism as a Function of the Economic Development of Serbia

Author(s): Boban Dasic,Radmila Trklja / Language(s): English Publication Year: 0

Tourism, as a branch of the economy, is characterized as a very complex and important economic category. Today, it is impossible to imagine the economic growth and development of not only global but also national economies without tourism. After the oil and chemical industry, tourism ranks third in terms of contribution to economic growth and development of the world economy. Its importance is realized through its influence on macroeconomic aggregates, which contributes to the increase of macroeconomic stability. This leads to an increase in employment and an acceleration of development at the local, regional and national levels. Empirical findings indicate that the tourism sector in the Republic of Serbia is characterized by the recovery of flows thanks primarily to the growth of domestic tourism. In this paper, the authors try to analyze the impact of tourism on the overall development of the economy of Serbia and point out the importance of tourism as one of the determinants of the development of the national economy.

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Estimating International Tourism Indicators in Context of Macroeconomic Stability and Fiscal Sustainability in the Republic of Serbia

Author(s): Vesna Mirović,Nataša Pavlović,Branimir Kalaš / Language(s): English Publication Year: 0

The importance of the tourism sector is manifested in the fact that this sector is one of the fastest-growing sectors worldwide. This research aims to determine the impact of tourism indicators on the macroeconomic and fiscal framework. The subject of the paper includes estimating the effect of international tourism arrivals and international tourism receipts on economic growth, unemployment and fiscal sustainability in the Republic of Serbia for the period 2002-2020. The obtained empirical results show that international tourism categories significantly improve macroeconomic stability and fiscal sustainability in the Republic of Serbia for the observed period. Based on the empirical findings, policymakers should focus on increasing international tourist arrivals as well as increasing international tourism receipts to provide positive implications for the economic development of our country.

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The Strategy for Improving the Quality and Sustainability of Tourism Organisations in the Republic of Serbia during the Global Crises

Author(s): Tatjana Janovac,Saša Virijević Jovanović / Language(s): English Publication Year: 0

The main goal of this research is to use the tools of strategic analysis to identify the factors from the macro environment that affect tourism and to propose a strategy for improving the quality of business and the sustainability of tourism organisations in the Republic of Serbia during the global crises. The research findings indicate that a strategy based on the implementation and application of international quality standards and orientation to domestic tourism products ensures the sustainability of tourism organisation. The significance of this manuscript is considered from the aspect of giving guidelines to the management of tourism organisations to improve the quality and sustainability of business in time of global crises.

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Performance and Recovery of Tourism Business Entities in Serbia

Author(s): Milan Mihajlović,Jelena Tadić,Bela Muhi / Language(s): English Publication Year: 0

The chapter aims to analyze the performance of the tourism sector in the Republic of Serbia before the pandemic, during the pandemic, as well as in the post-covid period. The contraction of tourism activity caused by the COVID-19 pandemic was absorbed by the economic measures of the Government of the Republic of Serbia, which created opportunities for the rapid recovery of this sector of the economy. The tourism sector, which faced major challenges in the previous period, was analyzed from both macro and micro aspects. Based on the analyzed theoretical background and research objective, the main hypothesis of the research was set, which is whether pos¬itive postcovid effects on the performance of business entities in tourism are expected, in the form of higher income realization, the same level of expenditure, with the same number of employees. Hypothesis testing was carried out using the cross-tabulation method, because each projection of income, expenditure and number of employees is shown according to the activity, size and legal form of business entities in tourism.

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Factors Determining Holiday Intentions of Serbian Travelers during COVID-19

Author(s): Maja Strugar Jelača,Nemanja Berber,Dimitrije Gašić,Marko Aleksić,Radmila Bjekić,Slobodan Marić / Language(s): English Publication Year: 0

This research aims to examine tourist behavior changes that occurred during the Covid-19 pandemic. We witnessed that there were more frequent negative decisions about tourist trips as well as changes in the desired tourism types and products due to pandemic effects. Some of the factors which may influence the decision-making process of tourists are the psychological impact of Covid-19, risk perception and finally the economic impact of Covid-19. Empirical research was conducted in the first quarter of 2022 on a sample of 188 residents of the Republic of Serbia using Smart-PLS software. Findings indicate that tourist Risk perception measured through Travel risk, Destination risk, and Hospitality risk have a positive statistically significant influence on tourist Holiday intention during a period of Covid-19 as making a negative decision about travel. Furthermore, the Psychological and Economic impact of Covid-19 did not have a statistically significant influence on tourist Holiday intention. We outline potential improvements for tourism management to face up to this situation like adding information on epidemic situations and prevention measures at the tourist destination to increase the knowledge of potential tourists and reduce risk perceptions.

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Digital Channels of Communication in the Promotion Function of a Tourist Destination – Tripadvisor Campaign Example of the Federation of Bosnia and Herzegovina

Author(s): Marko Šantić,Darijo Jerković / Language(s): English Publication Year: 0

Interactions and networking of social media in the tourism sector have experienced a very large expansion. This is certainly supported by the fact that the vast majority of today's tourists, through social networks - digital channels, search for, obtain and analyze information based on which they make decisions about choosing a destination, but also share and exchange information about their impressions and experiences with others in already visited destinations. These were the main motives of the key actors in the Federation of Bosnia and Herzegovina who, at the instigation of the USAID Tourism Bosnia and Herzegovina Project, embarked on the first comprehensive digital campaign on social networks, the campaign of their chosen tourist destinations, in order to finally get out of the media "darkness", given that Bosnia and Herzegovina tourist destinations were not visible at all and were not adequately represented on the world tourist map. The campaign was realized on the world's largest tourist platform TripAdvisor. Before the start of the campaign, the main objectives were set, the duration of the campaign was determined, the target markets were identified and the content was prepared in the form of attractive images, videos and promotional articles in four languages.

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The Impact of Cultural Events on the City Image and Development: Residents’ Perspective

Author(s): Tatjana Pivac,Sanja Kovačić,Ivana Blešić,Marija Cimbaljević / Language(s): English Publication Year: 0

Cultural festivals and major cultural events have various effects on the overall city development. This especially comes to the light in case of the cities caring the title of European Capital of culture. Nowadays, there are plenty of studies on cultural events, with the majority of them focusing on cultural tourists’ perceptions and perspectives. The local community, as a very important key actor, however, is very often neglected in the studies. In light of the fact that Novi Sad (Serbia) is caring the title of European Capital of Culture in 2022, this paper focuses on the local community and its perception of the impact of the cultural events on all aspects of the city’s development, including city image. Data were collected before the title year (in 2020 and 2021) via a survey filled by 239 residents of Novi Sad. The results indicate that residents consider cultural events the most beneficial in terms of improving city image, creating opportunities for international publicity, providing entertainment and learning opportunities for the local community, as well as contributing to a better understanding of different cultures and generating tourism income. On the other hand, negative effects are related to the increase in service prices, the total price of living and the increase in alcohol and drug consumption. Differences in sociodemographic characteristics are analyzed and discussed in the paper.

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Development of the Tourist Market of Pčinja District – Strategic Approach

Author(s): Radomir Stojković,Dragana Nikolić Ristić / Language(s): English Publication Year: 0

In the paper, the authors deal with the issue of tourism development in the Pčinja district. The Pčinja district is located in the southeastern part of Serbia. Tourism came into the sphere of interest of the holder of the macroeconomic authority of this district as an alternative to industrial development. Namely, until ten years ago, the economic development of this district was based on industry, which was significantly devastated during the transition period. Since the industrial policy did not produce significant results, the need for alternative strategies for the growth and development of the Pčinja district was imposed. Using the SWOT method as an element of the situational analysis, the authors define the potential that the Pčinja district has in the tourism context. The authors complete the conceptualization of the tourist potential of the Pčinja district with a PEST analysis, as a type of external analysis, which sets strategic directions for the development and market research of this district in the tourist context.

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The Impact of COVID-19 on Croatian Tourism: A Prisma-Compliant Systematic Literature Review

Author(s): Katerina Fotova Čiković,Violeta Cvetkovska,Trina Mjeda / Language(s): English Publication Year: 0

COVID-19 has drastically altered the world in 2020 and influenced all aspects of people’s lives and the ways businesses operate. The tourism sector was one of the economic sectors that were hit hardest by the global pandemic. Considering that the tourism sector in Croatia is one of the key economic sectors that contribute highly to the GDP, this paper provides a systematic literature review of studies investigating the impact of COVID-19 on tourism in the case of Croatia. Therefore, the goal was to survey and give a summary of the relevant papers published regarding the impact of COVID-19 on Croatian tourism as well as to investigate the current state of the art in this specific field, highlighting the findings regarding the COVID-19’s impact on Croatian tourism. The PRISMA guidelines have been applied by using the keywords: „tourism“, „COVID-19“ and „Croatia“ to the Scopus scientific database from its inception to 07 October 2022, and a manual abstract and full-text screening and review of the references of relevant studies was conducted thereafter. This resulted in 18 relevant published papers in peer-indexed journals in the Scopus database. The findings could be of great practical contribution to the government, policymakers and local tourist authorities and communities.

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Impact of the COVID-19 Pandemic on Transition in Tourism in the Example of Kotor

Author(s): Nikola Konjević,Goran Radović,Antonije Djukić / Language(s): English Publication Year: 0

In early 2020, the world faced a global crisis caused by COVID-19 (Coronavirus Disease 2019). Both as an economic activity and observed through the correlation of relationships and phenomena that arise when foreigners are travelling and staying at a place, tourism felt the most consequences of the pandemic. The crisis also affected Montenegro, where tourism is a strategic economic sector. To analyse the consequences of the crisis, this paper reviews the example of Kotor, a site included in the UNESCO World Cultural Heritage List, together with the Bay of Kotor and the Bay of Risan. The authors aim to determine the changes in the volume and structure of tourists before and after the pandemic, as well as the gravity areas and countries of origin. In addition, this paper will present the results of the survey "Study of Kotor's Identity in Crisis" carried out in cooperation with the Tourist Organization of Kotor in 2021 and 2022.

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Is Moldovan Tourism Well-Equipped to Overcome the Pandemic? The Key Role of Emerging Technologies

Author(s): Marc Pilkington / Language(s): English Publication Year: 0

This chapter examines the impact of the coronavirus pandemic on the tourism sector in the Republic of Moldova, a poorly researched, yet promising, post-soviet country sandwiched between Romania and Ukraine. A SWOT analysis is presented in the first part, suggesting promising strategic orientations for the sector. Secondly, we assess the impact of the pandemic both in the short and medium run. Drawing on emerging technologies, such as blockchain, virtual reality, and artificial intelligence, some innovative digital solutions are sketched out, in order to enhance tourism attractiveness in a post-COVID-19 world.

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Valorisation of Jerma Special Nature Reserve for the Purpose of Achieving Sustainable Spatial Development and Ecotourism

Author(s): Milica Dobričić,Milena Cvetković / Language(s): English Publication Year: 0

In this chapter, the value of the Jerma Special Nature Reserve in the Republic of Serbia, a natural asset of national and international importance, was valorised using multi-criteria decision-making. This research was conducted to determine the most favourable strategy for the sustainable spatial development of Jerma Special Nature Reserve, with a special focus on possibilities for developing ecotourism, a type of tourism that is particularly suitable for development in protected areas of nature. Using multi-criteria decision-making, i.e. a combination of SWOT analysis and an Analytic Hierarchy Process (AHP), a SWOT analysis was performed in the first step during which weight coefficients of individual elements within the SWOT group were determined, after which the same was applied to group weights. Subsequently, strategies for the development of the Jerma Special Nature Reserve area were formulated and designated with an efficiency coefficient and ranking. This chapter aims to contribute to the better understanding and promotion of applying multi-criteria decision-making when determining the most favourable strategy for the spatial development of a protected natural asset and developing ecotourism within its territory.

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From Tradition to Transformation: The Role of SMEs in Advancing Sustainable Tourism in Albania

Author(s): Kladiola Gjini / Language(s): English Publication Year: 0

Albania’s tourism industry has seen significant growth, captivating travelers with its stunning landscapes, cultural heritage, and inviting atmosphere. Within this context, SMEs in the hospitality sector have arisen as key players, advocating sustainable tourism. This chapter presents how Albanian SMEs’ have transitioned from traditional to eco-conscious businesses, evaluating their contributions to economic, environmental, and social sustainability, all while preserving local traditions and culture. Findings suggest that these SMEs significantly support local communities, generating employment, sourcing locally, and supporting regional development. Moreover, they exhibit greater innovation and creativity in sustainable tourism. Albania’s SMEs show a growing commitment to environmental and social sustainability, embracing eco-friendly measures while enhancing connections between tourists and local communities. Despite their positive impact, challenges hinder their full potential. To address these, targeted support from policymakers and industry stakeholders is essential.

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Strategic Orientation of Croatian Island Local Governments from the Aspect of Sustainability and their Practical Application

Author(s): Dijana Vuković,Boris Jurčić,Anica Hunjet / Language(s): English Publication Year: 0

Public institutions today, starting from smaller levels up to district and ministry levels, are focused on sustainability based on leadership, considering that sustainability contributes to improving the quality of life, health, and well-being of the community. Nevertheless, this is frequently merely a declarative orientation that is not put into practice. For what reason will we be researching the islands? for many reasons. The islands serve as ideal test sites for sustainability in three ways: first, because of their geographic and economic constraints; second, because biodiversity preservation is imperative; and third, because of the social dimension of sustainability, which is associated with the unique lifestyle of the Adriatic island population. This paper aims to investigate, i.e., compare the number of strategic documents that exist or are in the stage of practical application among local self-governing units on Croatian islands, based on sustainability criteria.

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Do Tourism Indicators Have an Influence on Unemployment? Case of Selected Balkan Countries

Author(s): Nataša Pavlović,Vera Mirović,Branimir Kalaš / Language(s): English Publication Year: 0

Tourism represents one of the most rapidly growing sectors in the world. This study aims to identify the effect of tourism indicators on the unemployment rate. The subject of the study implies evaluating the effect of international tourism revenues and international tourism arrivals on unemployment in selected Balkan countries (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Hungary, Montenegro, North Macedonia, Romania, Serbia and Slovenia) for the period 2007-2020. The empirical findings confirmed that given tourism indicators negatively influence unemployment on the panel level. It means that a higher level of international tourism revenues and a greater number of international tourism arrivals decrease unemployment rates. The obtained results indicate that these economies should pay more attention to the share of the tourism sector in their economic structure to enable lucrative effects on their economic prosperities.

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Purchasing Power Parity in B5 Countries: How Important Are Tourism Prices?

Author(s): Jani Beko,Darja Boršič / Language(s): English Publication Year: 0

This chapter examines the PPP hypothesis in five Balkan countries (B5). The current analysis incorporates four important novelties. First, from a methodological standpoint, the PPP is scrutinized by a range of first-generation and second-generation panel unit root tests. Additionally, three panel cointegration tests are performed: the Pedroni residual cointegration test, the Kao residual cointegration test and the Johansen Fisher cointegration test. Second, the study utilizes two price indicators: the consumer price index for hotels and restaurants and the general consumer price index. Third, the PPP proposition for the Balkan economies is inspected using a new, updated data set covering the period from January 2006 to December 2023. Fourth, two numeraire currencies, the euro and the USD, are operated to assess the validity of exchange rate parity conditions. The econometric results provide resolute support for the PPP concept in the group of B5 countries.

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How do Accommodation Prices Affect Tourism in Slovakia? Own Price and Cross Price Elasticity of Demand in the Regions of Slovakia

Author(s): Elena Hoškova,Martin Richter,Iveta Zentkova / Language(s): English Publication Year: 0

The chapter aims to determine the impact of accommodation prices on the demand for accommodation in individual regions of the Slovak Republic. The data for the analysis were drawn from the Statistical Office of the Slovak Republic for the period January 2017 to June 2023 from individual regions of the Slovak Republic. Regression analysis was used. The results showed that the most visited regions are Bratislava, Žilina and Prešov regions with very significant seasonality. The forecast assumed that seasonality would be maintained into the next period. The estimated regression functions of demand showed that the quantity demanded for accommodation responds statistically significantly to its price, especially in the Nitra region, and demand is price elastic here. According to the coefficients of the cross-price elasticity of demand, accommodation in the Trenčín region was a substitute for accommodation in other regions in the period under consideration. The analysis showed that the demand for accommodation is influenced not only by the tourist attractiveness of the area but also by the price of accommodation.

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The Role of Financial Technology in Croatia’s Tourism Sector

Author(s): Maja-Marija Prevolšek,Anja Tkalčević,Gordi Sušić / Language(s): English Publication Year: 0

This study explores the role of financial technologies in the Croatian tourism sector, highlighting their impact on operational efficiency, tourist experience, sustainability and competitiveness. To shed more light on the role of FinTech, motives for its adoption, advantages and potential challenges, authors constructed and conducted a survey that was distributed to relevant tourism industry participants in Croatia. Survey-obtained data was then used to compare the results of focus participants in light of the conducted literature review. Results of a survey point to a correlation between the size of the tourism companies and the level of familiarity with the concept of smart tourism and the implementation of innovative solutions. Highly categorized facilities often show a greater tendency to adopt frontier technological options to meet the high expectations of their guests. The results also show that the majority of participants are planning or considering further expansions or investing in FinTech solutions to remain competitive. In addition to own development and the need for continuous education, overall governmental medium-term development strategy and proper guidance are also recognized as preconditions for the industry’s sustainable future growth.

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The Impact of Current Crises on Selected Tourism Enterprises in Slovakia in the Context of Personnel Management

Author(s): Anna Šenková,Erika Kormanikova,Patricia Patakyova / Language(s): English Publication Year: 0

The present study deals with the extremely topical issue of the impact of the three ongoing crises on selected business sectors. Its main objective is to examine the impact of the COVID-19 pandemic, the military conflict in Ukraine and the energy crisis on selected business sectors in Slovakia in the context of personnel management. Information on the impact of these crises on the selected sectors was obtained by questionnaire method in cooperation with the Republic Union of Employers and the Association of Hotels and Restaurants of Slovakia. Thus, in the example of 78 enterprises from the selected sectors, it was found that the most significant impact on these sectors was the impact of the pandemic and the energy crisis. In the conclusion of the study, we present proposals aimed at an integrated management model that considers the current state of the enterprises in the selected sectors after the impact of these crises has been felt.

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Is Tourism in Slovakia Attractive? Analysis of Tourism Development in Slovakia

Author(s): Zuzana Bajusova,Jana Ladvenicová / Language(s): English Publication Year: 0

Slovakia is a small country in terms of area, but from the point of view of tourism, it has a lot to offer both domestic and foreign visitors. It has a good geographical location, also from the point of view of combining the visit with other European neighboring states. The country is divided into 21 tourist regions. Like many industries, the tourism industry was most affected by the COVID-19 pandemic. The year 2019 was the most successful from the point of view of tourism in terms of all indicators related to tourism. In the contribution, we focused on the development of selected indicators related to tourism in Slovakia and in individual regions for the period 2012-2022. During this period, there were an average of 3,950 accommodation facilities in Slovakia. The largest number of accommodation facilities were in the Žilina region. During this period, an average of 4,461,381 visitors visited Slovakia, with domestic and foreign visitors predominating. The average number of overnight stays of visitors for the analyzed period was 2.9. The average revenue for accommodation services reached the value of €345,065,476 during this period. The average accommodation price was at the level of €27.32, while the highest price was in the Bratislava region (average at the level of €35.05). The largest number of visitors from abroad was from the Czech Republic every year.

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