ANALYSIS OF FOREIGN TRADE IN SERVICES RELATED TO TOURISM AND TRAVEL IN THE EU

Abstract

Objective. The objective of the article is to highlight the key trends in the development of foreign trade in services related to tourism and travel in the EU countries. Methods. To achieve the set tasks and goals, the following research methods are used in the work: systematic and complex analysis, computational and analytical (to identify key trends in the development of foreign trade in services related to tourism and travel in the EU), graphic and tabular methods (for visualization of statistical material). Results. The main principles of the EU tourism policy are outlined, aimed at maintaining Europe’s position as a leading tourist destination while maximizing the industry’s contribution to growth and employment, as well as promoting cooperation between EU countries, in particular through the exchange of best practices. The analysis of foreign trade in services related to tourism and travel in 2016–2018 in the EU countries, using the data of the UN Conference on Trade and Development, the World Trade Organization, the World Tourism Organization, revealed the key trends, namely: 1) key exporters of services related to tourism and travel in the EU are Spain, France, Great Britain, Italy, and Germany; 2) the largest increase in the volume of exports of services related to tourism and travel in the EU countries was recorded in Romania, Portugal, Finland, Slovenia, and Poland; 3) the leaders among the countries-importers of services related to tourism and travel in the EU are Germany, Great Britain, France, Italy, and Spain; 4) the largest increase in the volume of imports of services related to tourism and travel in the EU countries was recorded in Romania, Croatia, Bulgaria, Spain, and Cyprus; 5) EU countries that dominate in foreign trade turnover of services related to tourism and travel are Germany, Great Britain, France, Spain, Italy; 6) the largest positive balance of foreign trade in services related to tourism and travel among the EU countries was recorded in Spain, Italy, France, Portugal, and Austria; 7) the largest negative balance of foreign trade in services related to tourism and travel among the EU countries was recorded in Sweden, the Netherlands, Belgium, the United Kingdom, and Germany.