Today, international tourism is one of the most affected sectors of the economy due to the global COVID-19 pandemic. The main purpose of this article is to analyze current trends and identify prospects for the international tourism development in the context of increasing globalization risks in the world, using the example of Ukraine’s integration into the global tourism industry, as Ukraine is located in the centre of Europe and belongs to a number of countries with developing economies, and has the potential to expand its tourism industry, which may be of interest to the international scientific community in terms of overcoming the bifurcation point of its economic development. Analyzing the tourism industry, as one of the most progressive sectors of the world economy, we used general scientific and special research methods (abstract-logical, statistical, systemic analysis and synthesis, abstract-theoretical, and correlation-regression analysis). The paper analyzes major indexes of international tourism development in the modern globalized world and details the risks emerging during the global COVID-19 pandemic. It examines the global dynamics of tourism flows, where France, Spain, and the USA are unquestionable leaders. The study considers foreign exchange earnings of international tourism and the industry contribution to the gross domestic product of countries being an essential component of national budgets. Based on the study conducted, there were developed reliable forecast models for the tourism industry development in the countries under research. These models will provide an opportunity to generate reliable forecasts, which will allow timely identification of potential threats and making effective decisions to address them. At the same time, the issues of managing information support of economic entities in the field of international tourism need to be further developed in order to reduce risks.

https://www.econstor.eu/bitstream/10419/239389/1/1744168091.pdf

International Tourism Development in the Context of Increasing Globalization Risks: On the Example of Ukraine’s Integration into the Global Tourism Industry

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.

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Financial levers and consequences implementation of world experience of business activity in domestic tourism market

Under market economy, financial health of businesses is one of the main determinants in achieving business objectives and building a competitive advantage. The objective of the study is to evaluate differences in the selected financial indicators across the categories of hotels in the Visegrad Group countries. This objective was achieved by testing these differences in the selected financial indicators (CF, EVA, ROE, ROCE, ROA, ROS and many others) for various hotel categories (twoto five-star hotels). Hotel category data (stars) were collected from Booking.com, financial outcomes were obtained directly from the financial statements of the analysed hotels. Testing of differences was carried out by non-parametric tests (Kruskal-Wallis test, Wilcoxon test). Statistically Received: September, 2019 1st Revision: January, 2020 Accepted: May, 2020 DOI: 10.14254/20718330.2020/13-2/19 Journal of International Studies S ci en ti fi c P a pe rs © Foundation of International Studies, 2020 © CSR, 2020 Journal of International Studies Vol.13, No.2, 2020 280 significant differences were found in CF, EVA, ROS, Profit margin, EBITDA margin, EBIT margin, Solvency ratio Asset, Turnover time, Current Liabilities Turnover. The outputs of the analyses reveal that hotels of a higher category show better financial outputs. Therefore, in order to increase their financial performance, lower category hotels should be inspired and focused on the activities of higher category hotels. The study points to the fact that the variable of hotel category should be taken into account in any analytical processes focused on the financial health of hotels.

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Differences in financial performance between various categories of hotels in the Visegrad Group countries

Nowadays, there is uncertainty in the external environment of tourism infrastructure companies. Such a situation necessitates modeling their behavior in the strategic perspective and identifying key development factors that will minimize the impact of adverse socioeconomic indicators, thus minimizing the likelihood of negative financial outcomes. This is taking place in conditions of development of tourism infrastructure companies in Ukraine and intensified competition with the absence of an appropriate management system in the development, production, and sale of tourism products and services. Thus, this study is highly relevant. The aim of this paper is to model the strategic development of tourism infrastructure using the SWOT methodology and correlation-regression analysis. Based on the diagnosis of trends in tourism infrastructure companies of Ukraine and their environment, an approach to the development strategy of tourism infrastructure companies is proposed. First, market trends in the tourism industry, which is a crucial component of the development strategy of tourism infrastructure, are considered. The essence of the proposed approach is to use the SWOT methodology. The determination of the most significant factors of companies’ internal and external environment is based on multifactor regression-correlation modeling. It is concluded that the general growth of tourism in Ukraine is due solely to the growing demand among the citizens of Ukraine for outbound tourism.

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Modeling development strategy of tourism companies under the influence of external and internal environment: Evidence from Ukraine

Considering the processes of the tourism services market development, the study aims to determine the patterns of development of internal tourism and hospitality industry in Ukraine based on the use of a cluster approach. This approach provides an opportunity to implement an effective public policy regarding the development of individual tourism clusters and tourism market in general. It is proved that in the process of cluster management of tourism market, it is important to determine means and methods of targeted state influence, including levers of influence of local authorities, to effectively develop the cluster system of tourism destinations in Ukraine. It is noted that cluster management of tourism market and its hospitality sector is a system of relations between authorities and businesses to increase the competitiveness of the national tourism product through the formation and development of tourism and hospitality clusters. Also, the development of internal tourism and hospitality in Ukraine were modeled. According to the results of the study, the principles of development of internal tourism and hospitality in Ukraine based on cluster management are established.

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Development of internal tourism and hospitality in Ukraine

The article presents the author’s view of the impact of globalization, internationalization, transnationalization on the development of the international tourism industry with the substantiation of the features of institutional transformations caused by large-scale, structural and other changes in the world economy, in particular, the analysis of the development of the tourism industry of the leading countries, which are centers to attract tourist flow (France, USA, Spain, China, Italy), as well as Ukraine. As a result of correlation and regression models, the potential of the industry and its investment attractiveness were established. It is proved that within the countries’ economic activity, the tourism sector makes a significant contribution to the creation of the gross national product. Characterizing the coefficients in the multivariate regression equation, it can be stated that the most significant impact on GDP is the factor of “Income from international tourism”, since for all countries, it has a positive value greater than one. As for such a factor as “Total investment in the tourism industry”, for all but Ukraine, this factor is characterized by a negative impact on GDP, which determines the high costs of infrastructure development, which are not always paid off by the income of the incoming tourist flow in the short term.

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Anatoly Poruchnik

Papers

Globalization of the tourism industry: scales, levels and institutional formats