Simulation of the Influence of External Factors on the Level of Use of the Regional Tourism Potential: A Practical Aspect

Шпак, Нестор; Muzychenko-Kozlovska, Oksana; Gvozd, Maryana; Sroka, Włodzimierz

doi:10.3390/admsci11030085

Cited by 19 publications

(12 citation statements)

References 57 publications

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“…An important issue explored in our study was the importance of investment, which is one of the main aspects of the dynamic development of any economic sector. Recreational and tourism are areas without proper investment, even with available recreational resources and opportunities, that cannot develop effectively (Shpak et al, 2021c). Thus, having a strategy in place is a component of investment success of any territory, the attractiveness of which for investors will depend on the extent to which the vector of its strategic development will contribute to the formation of an acceptable political, economic, environmental and investment climate.…”

Section: Discussionmentioning

confidence: 99%

Strategic Planning of the Recreational and Tourism Industry Development: The Ukrainian Evidence

Шпак

Bondarenko

Sroka

et al. 2022

IJEK

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The purpose of the study is to analyse the impact of the investment component on the development of the Recreational and Tourist Industry (RTI), and to perform a comprehensive analysis in order to elaborate a strategic development plan for the sector. Using the matrix method of research and mathematical method of rating, the general strategic direction of development of the recreational and tourism sphere of each region of Ukraine was estimated and chosen. We have developed a matrix "Recreational potential – RTI investment support", which consists of six quadrants and characterizes the long-term attractiveness of the recreational and tourist sphere and its investment level in the market of recreation, entertainment, and sports. The level of income per capita and the level of investment in collective accommodation facilities were investigated. This allowed to determine: (1) which regions need investments for the development of the recreational and tourist sphere as one of the priority areas; (2) which regions already have a sufficient level of cash flow in the recreational sphere, and finally, (3) which regions need careful analysis with the following elaboration of an alternative direction for recreation development in these regions. Based on two indicators, i.e. investment level and recreational potential, a matrix consisting of 6 quadrants was constructed. All regions of Ukraine were classified in this matrix. The results of the study will have implications for the industry, allowing authorities of different levels to formulate a rational policy for the development of the tourism industry.

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Section: Discussionmentioning

confidence: 99%

Strategic Planning of the Recreational and Tourism Industry Development: The Ukrainian Evidence

Шпак

Bondarenko

Sroka

et al. 2022

IJEK

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“…Hotel profitability levels depend on many factors originating from the domestic or global scene. The COVID-19 pandemic falls in the group of external factors that caught the entire world by surprise (Shpak et al, 2021). This research aims at examining the immediate effect of the pandemic on hotels' profitability levels by comparing their financial performance in 2019 and 2020.…”

Section: Methodsmentioning

confidence: 99%

Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison

Temelkov¹

2022

Menadž u hotelijerstvu i turiz

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The outbreak of COVID-19 brought many negative effects in different regions and economic areas. However, the hotel industry suffered the most adverse effects due to restrictions and measures imposed by countries. Hence, hotels took substantial hit on their financial performance and efficiency. The adverse impact was not same for all hotels across the globe. The extent to which they will record worsening financial performance depends on the implemented governmental measures and actions taken by the hotels. Assessment of changes in revenues, expenses and expense to revenues ratio shows the magnitude of the impact induced by the pandemic. The findings suggest that most hotels have suffered a substantial loss in revenues and significant increase in expense to revenues ratio.

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“…N. Shpak, O. Muzychenko-Kozlovska, M. Gvozd, & W. Sroka [18] визначили фактори зовнішнього та внутрішнього середовищ, які впливають на підвищення використання туристичного потенціалу регіону.…”

Section: аналіз останніх досліджень і публікаційunclassified

Strategic Approaches to Increasing Investment Attractiveness of the Region (On the Example of Lviv Region of Ukraine)

Muzychenko-Kozlovska¹

2022

SEMI

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Purpose. The purpose of the study is to develop a scientific and methodological approach to the formation of a strategy for increasing the investment attractiveness of the region using a SWOT analysis, as well as the formation of recommendations for the development of a program to improve the use of its investment potential within its limits, and its practical approbation on the example of the Lviv region of Ukraine. Design/methodology/approach. The article uses methods of analysis and synthesis, SWOT analysis to form approaches to the strategy of increasing the investment attractiveness of the region. Findings. As a result of the conducted research, it was found that the “investment attractiveness of the territory or region” can be characterized as a complex characteristic of the area, which determines the possibility of investor interest and investment attraction, taking into account such groups of factors as: economic, ecological, political and image. The main (internal) factors affecting the increase in investment attractiveness of the region are determined, namely: natural resources (available minerals, explored sources, etc.), labor resources, socioeconomic development of the region, labor resources, as well as auxiliary (external) factors of increase investment attractiveness of the region: marketing policy, management system of economic activity in the region, external infrastructure, tourist attraction; environmental quality, general image of the region, etc. A sequence of strategies for increasing the investment attractiveness of the region has been formed, which includes the following stages: information provision; defining the mission and goals; definition and analysis of internal and external environmental factors; forecasting the conditions of investment attractiveness of the region, which involves finding out opportunities and threats, as well as their changes in the future; strategy formation; analysis of the chosen strategy and decision-making. The SWOT analysis of natural resources showed that the Lviv region has sufficient potential, including unique resources, which gives grounds for forecasting an increase in the investment attractiveness of the region. However, for this, it is necessary to plan significant changes in economic and international activities, in particular: the development of new oil and gas fields; more efficient use of gas storages; change of owners of strategic enterprises; improvement of transport infrastructure; dissemination of information about the potential of the region, etc., taking into account threats and the state of affairs of competitors. A SWOT analysis of the socio-economic development of the Lviv region showed that significant potential is concentrated at its borders, in particular: favorable geographical location, the potential for improving the development of industry and agriculture, etc. However, due to significant threats (a full-scale war on the entire territory of Ukraine; the danger of hostilities spreading to the territory of the Lviv region), the investment climate in Ukraine, and therefore also in the Lviv region, is deteriorating. To improve the situation, it is necessary to improve the legislative field and investment policy, improve the promotion of the region's potential in the international. A SWOT analysis of the labor resources of the Lviv region showed that this region has a significant potential for labor resources. However, there remain problems and threats that should be addressed: it is necessary to improve the demographic situation in the region, create jobs, solve problems with the employment of internally displaced persons, etc. A SWOT analysis of the marketing policy in the process of increasing the investment attractiveness of the Lviv region showed that measures are being taken in this region to improve the information of potential investors, including international agreements on improving the use of the investment potential of the region, but there is still a threat of continued hostilities, including in this region. This complicates the task of attracting investment. Practical implications. Taking into account the results of the research, it is advisable to adopt a program for improving the use of the investment potential of the region, which may include the following components: rational use of natural resources; increasing the qualification of labor resources; implementation of marketing policy for attracting investors, etc. Originality/value. The article proposes new approaches to the formation of a strategy for increasing the investment attractiveness of the region, taking into account the tourist attractiveness factor.

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Simulation of the Influence of External Factors on the Level of Use of the Regional Tourism Potential: A Practical Aspect

Cited by 19 publications

References 57 publications

Strategic Planning of the Recreational and Tourism Industry Development: The Ukrainian Evidence

Strategic Planning of the Recreational and Tourism Industry Development: The Ukrainian Evidence

Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison

Strategic Approaches to Increasing Investment Attractiveness of the Region (On the Example of Lviv Region of Ukraine)

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