Management of Ukraine's tourism industry competitiveness in international market of tourism services

Abstract

ВІСНИК МАРІУПОЛЬСЬКОГО ДЕРЖАВНОГО УНІВЕРСИТЕТУ СЕРІЯ: ЕКОНОМІКА, 2019, ВИП 18 implementation of currency regulation in each country of association under consideration have been studied.It was noted that the currencies of the EFTA countries are one of the overvalued currencies among all currencies in the world, and currency regulation in each of these countries has its own challenges.It has been confirmed that the Swiss franc is one of the few currencies in the world, that have a global revaluation trend, and the Icelandic and Norwegian crowns are devaluative, which means that the franc continues to be the most attractive store of investors' savings as well as continues to hold the status of the world reserve currency for many years.The reasons for which this association has been remained in the Free Trade Area stage for a long time have been identified. Iceland and Norway, seeking to maintain free movement regimes, are faced with the need to regulate their own exchange rates. The volatility of the Icelandic crown has a significant impact on the price level in national economy, unlike the Swiss franc and the Norwegian crown. It took Iceland almost 10 years to move to a liberal model of currency regulation after the 2008 global crisis.Further possible scenarios for the development of this regional association in the global economic space have been outlined, taking into account the globalization factor. The transfer of all EFTA member states to the use of the Swiss franc was proposed. It is noted that the main risk of the changeover to the euro, in our opinion, lies in the difference in interest rates, which can cause an increase in movements of capital and exchange rates. The possibility of a future expansion of the EFTA by joining the UK after the Brexit process, which once stood at the origins of the association, was considered. It has been suggested that this country, together with its currency, can compete with existing currencies and subsequently absorb them.