Considerations Regarding the Impact of the Covid-19 Pandemics Over the Financial Performance at the Level of the Tourism Companies Operating in Central and Eastern Europe

Abstract

The tourism sector is one of the most dynamic economic sectors in Romania contributing with 6.3% in the number of workplaces and reaching 5.3% from the total GDP. The impact of the COVID-19 pandemic over this sector has been catastrophic. The goal of the proposed article is to perform a brief financial assessment of the companies operating in the tourism sector, located Romania, Croatia, Hungary and Slovenia, by using financial information collected from Amadeus database. The macroeconomic data was collected through Statista and the financial information used in the study is based on the financial reporting data for the years 2016-2020 processed through Amadeus data base. Based on both sets of data the current paper will attempt to analyze the financial information (ROE, ROA, annual return, evolution of cash-flow and number of employees) and determine if a link can be established between the evolution of the financial performance of the selected companies and the COVID-19 pandemics effects over the tourism sector. These companies were selected especially since they are extremely affected by the effects of COVID19 and therefore further research can be performed in the following years.

GeoValueIndex map of public property assets generating via Analytic Hierarchy Process and Geographic Information System for Mass Appraisal

“…Based on the scoring used in the nominal valuation method, it is similar to the GeoValueIndex. The studies, which are land readjustment (Yomralioglu, 1993), value prediction (Nişancı and Yomralıoğlu, 2002), and the basis for the valuation (Droj et al, 2010;Mete and Yomralioglu, 2019;Unel and Yalpır, 2014) were implemented with the nominal valuation method. In the study of Yomralioglu (1993), a nominal asset value-based land readjustment model was developed.…”

“…The data of the criteria affecting the value in the city of Oradea were examined for the nominal valuation. These data were generated as a foundation for nominal value by being organized in GIS software (Droj et al, 2010). The study in the Beyoğlu district of Istanbul was implemented with the nominal valuation method.…”

A Comprehensive Overview Regarding the Impact of GIS on Property Valuation

“…Figure 6 illustrates the main types of big data resources used in automated, artificial intelligence-based real estate valuation processes. Some researchers are investigating the usage of spatial data mining techniques on public geoportals to improve and automate assessment [64][65][66]. Another study [67] investigated the effective use of GIS in combination with reliable remote sensing data and forecasting tools that provide a robust and realistic solution for predicting real estate trends.…”

“…The process itself includes data collection, pre-processing, selection of relevant features, development of predictive models, training and evaluation of the models, their use in production, and estimation of value for decision making purposes. Some researchers are investigating the usage of spatial data mining techniques on public geoportals to improve and automate assessment [64][65][66]. Another study [67] investigated the effective use of GIS in combination with reliable remote sensing data and forecasting tools that provide a robust and realistic solution for predicting real estate trends.…”