FEATURES OF INVESTMENT PROVIDING OF THE TOURISM SPHERE IN THE CONDITIONS OF TRANSNATIONALIZATION OF THE WORLD BUSINESS PROCESSES

S. Ja. Voitovych, O. M. Liutak, I. M. Liakh, L. S. Lisovska

Abstract


The globalization mechanisms of development put requirements for tourist businesses in entering the international level of absorption of other enterprises of the related industries within hotel chains and global travel networks. Consequently, the volume of capitalization of certain TNCs in tourism exceed national and industry capabilities, but because the classical hierarchy of levels of capitalization in the global competitive environment loses its meaning. In this scientific article the features of investment support for the tourism sector in conditions of world economy trans nationalization processes are developed. In particular, the tendencies, the level and outlines a transnational vector of the functioning of tourism; features of the development of the tourism chain are established. The features of development of hotel chains are their transnational nature, the dissemination of technology and knowledge, strong investment opportunities and support. The analysis of the level of capitalization has shown that the leaders in attracting investments in the tourism sector are the United States and China. They are positioned by substantial economic opportunities, existence of tourist potential and huge domestic demand, which provokes the development of tourism infrastructure. TNCs are pursuing a policy of acquisitions, merger and purchase of enterprises serving the areas of insurance, transportation, catering and recreation for the organization of vertical and horizontal travel of the chains. Among the main strategies of financial development completed by hotel TNCs are: direct investments, portfolio investments, franchising and management contracts. The factors that are decisive in the formation of favourable investment climate of individual countries in the context of increasing use of the tourism potential and attraction of foreign investments are allocated in the economic, geographic, infrastructure groups and elements of the hospitality and openness of the society. The flow of revenues for tourism enterprises in the scope of the regional trade, industry and agriculture explains the multiplier effect to increase the gross domestic product in tourism.


Keywords


the tourist market; the transnational tourist circuit; the factors of a favourable investment climate; investment support; level of capitalization and volumes of investments.

References


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GOST Style Citations


Zimny, Z. Foreign Direct Investmentand and Transnational Corporationsin Tourism in Dveloping Countries [Electronic resource] / Zbigniew Zimny. – Available at: http://www.academia.edu/5675292/Foreign_Direct_Investment_and_Transnational_Corporations_in_Tourism_ in_Dveloping_ Countries.

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Dunning, J. H. The internationalization of the hotel industry – some new findings from a field study [Electronic resource] / John H. Dunning, Sumit K. Kundu. – Available at: http://www.freepatentsonline.com/article/Management–International–Review/18259807.html.

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DOI: https://doi.org/10.18371/fcaptp.v1i24.128230

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Copyright (c) 2018 S. Ja. Voitovych, O. M. Liutak, I. M. Liakh, L. S. Lisovska

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ISSN (print) 2306-4994, ISSN (on-line) 2310-8770