Abstract
Rural tourism is often considered to be a factor in the development tendencies of rural space, a factor in the development of agriculture, as well as a factor in reducing rural depopulation. The primary aim of the research was to look at the problems in financing sustainable rural tourism in the case study of Serbia. The secondary one was to analyze the factors that may influence the self-financing capacity of rural tourism service providers. The findings confirmed the main hypothesis that financial resources are a significant limitation of the development of sustainable rural tourism. It was found that there is a high correlation between the amount of income generated and the structure of the workforce. The results verified that rural tourism entities were not making sufficient investments due to lack of financial resources, i.e., adequate financing modalities. It can be concluded thatin order to develop sustainable rural tourism, financial investments are needed, both at the level of service providers and at the macro level.
Highlights
Rural tourism began to develop in Serbia in the 1970s, but its current development cannot be compared with the development of this type of tourism in European countries with similar length of development period
The hypothesis Hypothesis 1 (H1) confirmed that higher-income rural tourism entities, whose activities are at a higher level of development, employ, in addition to their family members, additional workers
This leads to the conclusion that the hypothesis Hypothesis 2 (H2) is rejected, since rural tourism entities engaged in both tourism and agriculture do not generate higher revenues than other providers of rural tourism services
Summary
Rural tourism began to develop in Serbia in the 1970s, but its current development cannot be compared with the development of this type of tourism in European countries with similar length of development period This is due to a number of factors both on the supply side and on the tourist demand side. Political events in the last decade of the 20th century were unfavorable and caused devastating effects on tourism, especially on rural tourism, which has just begun to develop The disintegration of the former Yugoslavia, the wars in the surrounding area, the sanctions of the International Community, and the bombing of Serbia in 1999 left unprecedented negative consequences. The economic crisis has caused and reduced investments in the maintenance of cultural and historical monuments, cultural and artistic institutions, and in the development of tourist manifestations; that is, all factors that shape rural tourism contents. The decline in the purchasing power of the urban population has led to a decline in demand for rural tourism products [1]
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