Analysis of the Tourism Economic Effects Reach in European Union Member States
Keywords:
Tourism industry, Tourist destination, Economic effects, European Union
Abstract
The paper aims to analyze the impact of the tourism industry on the economy of the European Union. In this context, the paper is based on research and literature review, in particular, statistics data of Eurostat and the World Travel and Tourism Council. The results achieved by the tourism industry are reflected through certain economic indicators: GDP, employment rate, income, the balance of payments, turnover and consumption. The research area is one of the most visited tourist destinations in the world, which generates significant tourist turnover and justifies the status of an extremely important determinant of economic development. The well managed tourism industry complements other economic activities and increases the income of each EU Member State, and the tourism industry has direct and indirect, positive and negative economic effects.
References
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Čerović, S. 2002. Strategic Management of the Serbian Tourist Economy. Belgrade: Singidunum University. (in Serbian)
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World Tourism Organization 2017. Tourism Highlights 2017 Edition. Madrid.
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European Parliamentary Research Service. 2015. Tourism and the European Union.
World Tourism Organization. 2018. European Union Tourism Trends. Madrid.
Vujović, S. 2019. Tourism development in the light of certain theoretical and methodological researches. Belgrade: Economics Institute. (in Serbian)
Ilić, D., Marinoski, N., Djeri, L., Stamenković, P. 2016. Basics of tourism theory and practice. Leskovac: Higher Business School of Professional Studies. (in Serbian)
Brzaković, A., Brzaković, T. 2018. Brand as a Factor of Business Success of the Tourist Organization. In: 3rd International Scientific Conference Tourism in function of development to the Republic of Serbia-Tourism in the Era of Digital Transformation, Thematic Proceedings, (640-656). Vrnjačka Banja: Faculty of Hotel Management and Tourism with co-organizers.
Vujović, S., Štetić, S., Cvijanović, D. 2012. Destination concept of tourism development. Belgrade: Institute of Agricultural Economics. (in Serbian)
Cvijanović, D., Vukotić, S., Vojinović, Ž. 2017. The most important economic effects of tourism in Serbia and worldwide. In: Sustainable Development of Tourism Market – International Practice and Russian Experience, (15-19). Russia: Stavropol State Agrarian University.
Nјegovan, Z. 2016. Economics of tourism and rural tourism. Novi Sad: Faculty of Agriculture. (in Serbian)
Internet 2: https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Tourism_industries_-_economic_analysis%20 (23.2.2020.)
Rita, P. 2000. Tourism in the European Union. International Journal of Contemporary Hospitality Management 12(7), 434-436.
Internet 3: https://ec.europa.eu/eurostat/statistics-explained/images/2/27/ (5.4.2020)
Pokrajčić, D. 2008. Economics of Enterprises. Belgrade: Faculty of Economics. (in Serbian)
Mirčetić, V., Vukotić, S., Cvijanović, D. 2019. The Concept of Business Clusters and its Impact on Tourism Business Improvement. Economics of Agriculture 66(3), 851-868.
Internet 4: https://ec.europa.eu/eurostat/statistics-explained/images/e/e8/ (15.4.2020)
Omerović, J. 2014. Tourism traffic as an indispensable component of tourism development in Tuzla. Zbornik radova Departmana za geografiju, turizam i hotelijerstvo 43(2), 174-184. (in Bosnian)
Internet 5: https://ec.europa.eu/eurostat/statisticsexplained/images/4/4c/Turnover_or_gross_premiums_written%2C_2016_%28in_million_EUR%29.png (23.2.2020)
Internet 6: https://ec.europa.eu/eurostat/statisticsexplained/images/b/bb/Value_added_at_factor_cost%2C_2016_%28in_million_EUR%29.png (23.2.2020)
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EUROSTAT. (2019). Three quarters of all trips by EU residents are within their own country.
Sriboonjit, Ј., Chaovanapoonphol, Y., Wiboonpongse, A., Calkins, P., Sriboonchitta, S. 2010. Economic Determinants of Long-Term Equilibrium in Malaysian Tourist Arrivals to Thailand: Implications for Tourism Policy. International Journal of Intelligent Technologies and Applied Statistics 3(4), 421-435.
Williams, S. 1998. Tourism Geography. London and New York: Routledge.
Internet 9: https://unwto.org/international_tourism (4.3.2020)
Internet 10: https://www.wttc.org/datagateway (14.4.2020)
Zurub, H. H, Ionescu, A., Constantin, V. D. 2015. Measuring the Economic Impact of Tourism in European Emerging Markets. Procedia Economics and Finance 32, 95-96.
Petković, G., Pindžo, R. 2012. Tourism and new economic challenges. Journal of the Serbian Association of Economists 60(1-2), 117-126.
Totić, M. 2017. Legal support for the development of tourism in the European Union. In: 4th International Scientific Conference Agribusiness MAK-2017. Kopaonik: Municipality of Raška with co-organizers. (in Serbian)
UNWTO. 2019. European Union Tourism Trends. Madrid.
Urošević, S., Stanujkić, D., Karabašević, D., Brzaković, P. 2018. Using single valued neutrosophic set to select tourism development strategies in eastern Serbia. Economics of Agriculture 65(2), 555-568.