Abstract
Investments in tourism are crucial for the development of both tourism and other activities that are directly or indirectly related to it. Despite the immense potential of tourism, the insufficient development of infrastructure appears as one of the reasons that diminishes the role of tourism in Serbian economy. It is therefore of great importance to invest in infrastructure development in tourism. The subject of this paper is to compare Serbia with the countries in the region of Western Balkan and with several other European countries (Germany, France, Italy, Austria, and the Netherlands) in terms of the level of capital investments and employment in tourism. The insight into the amounts of investments will show the position and perspective of Serbia in relation to the countries in region and Europe. By adopting the measures of investment policy in tourism and associated incentives, Serbia will create the climate that will increase the amount of capital investments in tourism, which will have a multiplier effect on employment and also the entire economy.
Highlights
The tertiary sector in developed countries is an important generator of GDP creation and, as such, it has been the subject of frequent research aimed at its improvement, which will result in multiplier effects on all spheres of both economic and social life
This paper will provide the insight into where the Republic of Serbia is today, where it was in the past and, most importantly, where it will be in the future and highlight the measures that will be taken to improve the situation related to the employment in tourism
Tourism has a Win-Win effect on one economy, since its development stimulates the development of other fields of economy, which increases the employment rate
Summary
The tertiary sector in developed countries is an important generator of GDP creation and, as such, it has been the subject of frequent research aimed at its improvement, which will result in multiplier effects on all spheres of both economic and social life. According to Ubavić (2015), at the end of the 20th century and the beginning of the 21st, tourism became one of the most massive global phenomenon which, at the same time, offered a great development opportunity for underdeveloped and developing countries. Inadequate marketing activity resulting in the lack of information provided to potential tourists is just one of the links in the chain of insufficient exploitation of tourism potentials. This paper will provide the insight into where the Republic of Serbia is today, where it was in the past and, most importantly, where it will be in the future and highlight the measures that will be taken to improve the situation related to the employment in tourism
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