International Tourism Development in the Context of Increasing Globalization Risks: On the Example of Ukraine’s Integration into the Global Tourism Industry

Yurii Kyrylov,Liudmyla Boiko,Aleksy Kwilinski,Viktoriia Hranovska,Viktoriia Boiko

doi:10.3390/jrfm13120303

Abstract

Today, international tourism is one of the most affected sectors of the economy due to the global COVID-19 pandemic. The main purpose of this article is to analyze current trends and identify prospects for the international tourism development in the context of increasing globalization risks in the world, using the example of Ukraine’s integration into the global tourism industry, as Ukraine is located in the centre of Europe and belongs to a number of countries with developing economies, and has the potential to expand its tourism industry, which may be of interest to the international scientific community in terms of overcoming the bifurcation point of its economic development. Analyzing the tourism industry, as one of the most progressive sectors of the world economy, we used general scientific and special research methods (abstract-logical, statistical, systemic analysis and synthesis, abstract-theoretical, and correlation-regression analysis). The paper analyzes major indexes of international tourism development in the modern globalized world and details the risks emerging during the global COVID-19 pandemic. It examines the global dynamics of tourism flows, where France, Spain, and the USA are unquestionable leaders. The study considers foreign exchange earnings of international tourism and the industry contribution to the gross domestic product of countries being an essential component of national budgets. Based on the study conducted, there were developed reliable forecast models for the tourism industry development in the countries under research. These models will provide an opportunity to generate reliable forecasts, which will allow timely identification of potential threats and making effective decisions to address them. At the same time, the issues of managing information support of economic entities in the field of international tourism need to be further developed in order to reduce risks.

Highlights

International tourism, as part of the process of global development and integration, has become one of the influential factors on which depend the economy growth, the increase in the country’s competitiveness in world markets, and improvement of the population’s welfare
Globalization and technological progress have contributed to considerable growth of international tourism in the global economy where its share makes up about a tenth
This industry has recently been considered as its global driver since it developed much faster than the global economy on the whole, its income considerably exceeding the cost of exporting fuels and raw materials (UNWTO n.d.)

Summary

Introduction

International tourism, as part of the process of global development and integration, has become one of the influential factors on which depend the economy growth, the increase in the country’s competitiveness in world markets, and improvement of the population’s welfare. The field of tourism employs more than 250 million people, i.e., every twelfth employee in the world. It accounts for 7% of total investment, 11% of global consumer spending, 5% of all tax revenues and a third of world trade in services (UNWTO Statistics). The global crisis caused by the coronavirus pandemic has radically changed the tourism industry around the world. It can be assumed that the vast majority of improvements in organizing the tourism business will be based on organizing virtual solutions and remote work, as well as on educational programs, which in many countries will remain online after the COVID-19 crisis

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