FINANCIAL LEVERS AND CONSEQUENCES IMPLEMENTATION OF WORLD EXPERIENCE OF BUSINESS ACTIVITY IN DOMESTIC TOURISM MARKET

Authors

  • O. Baula Lutsk National Technical University
  • О. Liutak Lutsk National Technical University
  • L. Chepurda Cherkasy State Technological University
  • G. Chepurda Cherkasy State Technological University
  • О. Zelinska Lutsk National Technical University

DOI:

https://doi.org/10.18371/fcaptp.v4i35.222495

Keywords:

international tourism, financial flows, business activities, diversification of tourism, strategic alliances

Abstract

The article describes the main indicators of the tourist services market in Ukraine and the world, comparing the dynamics of costs and revenues from international tourism; the model of structural restructuring of the tourist services market of Ukraine in the conditions of globalization of the economy is proposed, and the necessity of institutionalization of business activity in the field of international tourism is substantiated, in particular, different variants of strategic alliances that are alternative to Ukrainian tourism business activity are considered. It is proved that at the moment the tourism sector has become indispensable in the lives of a large part of the world’s population, as tourist flows have increased more than 50 times in recent years. In addition, at the beginning of the XXI century the sphere of rest for the volume of income took the third place among the leading sectors of the global economy. According to the World Travel & Tourism Council the share of the tourism industry in 2018 is approximately 10 % of global GDP (according to the forecasts the proportion will reach 11% to 2026), 6.0 % of the world export, that is 0.1% more than in 2017 and in accordance 0.6 % more than in 2016. It is determined that financial resources from tourist flows serve as an important tool for capacity building and economic growth of the world’s leading countries. World experience has substantiated that the creation of a tourism product with high added value is the key to growth of business activity in the tourism business segment, tourism market development, involvement of related industries (financial services, insurance, transport, communications) in the implementation of tourism services.The SWOT analysis shows that Ukraine has a strong potential for the most types of tourist and recreational activities, the use of which is significantly limited by a number of restrictions, to overcome which it should be chosen a clear strategy that would take full account of the use of the strengths of the phenomenon under study. Since the strategic priority of Ukraine’s integration into the world economic space and the reform of the domestic economy is a reorientation to efficiently functioning forms of management, we consider it advisable to start strengthening domestic competitive position in the field of international tourism just on the side of the implementation of world experience in business activities in this area.

Author Biographies

O. Baula, Lutsk National Technical University

Ph. D. in Economics, Associate Professor, Associate Professor of the Department of International Economic Relations

О. Liutak, Lutsk National Technical University

Doctor of Economics, Professor, Professor of the Department of International Economic Relations

L. Chepurda, Cherkasy State Technological University

Doctor of Economics, Professor, Dean of the Faculty of Food Technology and Service Industry

G. Chepurda, Cherkasy State Technological University

Doctor of Historical Sciences, Professor,head of the department of tourism and hotel and restaurant business

О. Zelinska, Lutsk National Technical University

Ph. D. in Economics, Associate Professor, Associate Professor of Department of International Economic Relations

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Published

2020-12-24

Issue

Section

The social-humanitarian context of transformational finance-economical processes