Crisis In Industry Research Articles

Turnover ratios of the world's leading publicly traded oil and gas corporations as an indicator of investment attractiveness of domestic vertically integrated oil and gas companies

Subject. The article considers the main turnover ratios of the twenty five leading publicly traded oil and gas companies from 2006 to 2018. Objectives. The purpose is to determine the current values of the main turnover ratios of leading publicly traded oil and gas companies, to identify the key trends in their change within the studied period, to establish those factors that led to this transformation. Methods. The study rests on methods of comparative and financial-economic analysis, and generalization of materials of consolidated income statements. Results. The analysis of annual reports of 25 oil and gas companies enabled to determine the dynamics of changes in key turnover indicators in the stock market sector of the industry and establish the main factors that contributed to this transformation. The study period revealed a significant increase in the duration of asset turnover. The reason for such results was that the increase in the balance sheet valuation of assets outstripped the growth in net revenue. It turns out that invested capital began to take much more time to return to the industry company as net revenue from core activities. An insignificant reduction in the cash operating cycle was established, which was facilitated by an increase in the duration of payables turnover, which occurred against the background of a slight decrease in the receivables turnover time. The paper unveiled an increase in the inventory turnover period, which negatively affected the duration of the cash operating cycle. It also established that, despite the efforts of leading publicly traded oil and gas companies, the duration of asset turnover and the cash operating cycle increased quite significantly at the height of the global financial and industry crises. Conclusions. Many leading publicly traded industry corporations have an impressive backlog to further reduce the cash operating cycle.

스포츠 관광 목적지로서 크루즈: 의미연결망 분석

Purpose The purpose of this research is to prospect the possibility of cruise as sports tourism destination. It is a proposal for a convergence between the two growing industries as a way to overcome crisis of the tourism industry, including cruise business, due to the recent COVID-19 pandemic. Methods Over 10 years from 2010 to 2019, on-line newspaper articles and SNS contents including sports tourism and cruise were analyzed. Textom, a big data solution, was used for data mining, and Ucinet was used to perform frequency analysis, centrality analysis, and CONCOR analysis. Discourse on related topics could be found through semantic network analysis (SNA) between core words with high frequency and high centrality. Results Total of 11,825 words were extracted, and the top frequently appeared words among them were ocean, product, industry, Korea and China, etc., and the words with high centrality were sea, world, freedom, and recommendation. By analyzing the semantic network of key words, four discourses were found: seascape, active cruise passenger, ship giantism, and communitas. Each discourse showed the possibility of cruise as a sports tourism destination, enhancing sports experiences against seascape, attracting sports mania as a SIT, expanding ships size for more sports venues and easy accessibility and connecting sports teamwork and on-board community. Conclusion The research is expected to extend the horizon of tourism in connecting with sports tourism and cruise. Results were interpreted and implication to tourism and limitation were included at the end of research.

Profitability ratios of the world's leading publicly traded oil and gas corporations as an indicator of the investment attractiveness of domestic vertically integrated oil and gas companies

Subject. The article focuses on the key profitability ratios of twenty five leading publicly traded oil and gas companies from 2006 through 2018. The analysis encompasses ExxonMobil, Chevron, ConocoPhillips, Occidental Petroleum, Devon Energy, Anadarko Petroleum, EOG Resources, Apache, Marathon Oil, Imperial Oil, Suncor Energy, Husky Energy, Canadian Natural Resources, Royal Dutch Shell, BP, TOTAL, Eni, Equinor (Statoil), PetroChina, Sinopec, CNOOC, Petrobras, PAO Gazprom, PAO NK Rosneft, and PAO LUKOIL. Objectives. The aim of the study is to trace key trends in key profitability ratios of corporations in the oil and gas industry, to identify the key trends in their change within the studied period, and to establish those factors that led to this transformation. Methods. The study is based on methods of comparative and financial-economic analysis, summarizing financial reporting data. Results. I determined the dynamics of changes in key profitability indicators in the stock market sector of the industry and established the main factors that contributed to this transformation, based on the results of a comprehensive analysis of balance sheets of 25 oil and gas companies. I revealed a decrease in the profitability of the leading publicly traded oil and gas companies within the studied period, which was especially clearly manifested in the midst of the global financial and industry crises. The most difficult situation is observed in a number of independent US companies. The main reason for the drop in the profitability of the stock market sector of the industry is that the costs of core activities outstrip the corresponding revenue in terms of growth, mainly due to the costs of depreciation, depletion, and amortization. Another important factor was a significant increase in the book value of non-current assets. The study unveils that the specific burden of income tax per unit of net revenue from core activities is gradually decreasing in the stock market sector of the oil and gas industry. Conclusions. The profitability of the oil and gas stock market sector is deteriorating, however, the current price level allows the leading companies to generate net income.

Specific financial and stock market ratios of the world's major public oil and gas corporations as an indicator of investment attractiveness of domestic vertically integrated oil and gas companies

Subject. This article considers the specific financial and stock market indicators of the twenty five leading listed oil and gas companies within 2006 through 2018. Objectives. The study aims to determine the current level of values of the specific financial and stock market indicators of the leading publicly traded oil and gas companies, as well as identify the key trends in the changes within the studied period and factors that have caused these changes. Methods. For the study, I used comparative, and financial and economic analyses, and generalization of materials of the companies' consolidated financial statements. Results. The article shows a tangible decline in most of the key specific indicators over the period under study, except for net revenue from core activities per barrel of production. The article finds that the long-term industry crisis impacts the group's performance greatly, and independent companies are suffering the most. It says that specific stock market coefficients are acceptable for assessing the possible value of the industry corporations, and the ratio of market capitalization to production is preferable. The article finds that domestic corporations are inferior to competitors in terms of specific stock market indicators, so the country specificity of the group coefficients is obvious. Conclusions. The article concludes that a decrease in the specific profitability of hydrocarbon production in the industry's stock market segment affects the market attractiveness of the oil and gas sector negatively.

The Great Economic Crisis in Poland (1929–1935) in the Context of the Global Crisis

The aim of the article was to analyze the causes and consequences of the great economic crisis in Poland in the context of the world economy and the global crisis. The first symptoms of the crisis became evident in June 1929, when production began to decline, and in August that year price drop began. After these events, the economic situation in Poland was systematically deteriorating. The year 1935 can be considered the end of the crisis in Poland, despite the fact that the industrial crisis began to break through gradually already in 1933. The great economic crisis was a global phenomenon, even though it did not start in all countries at the same time. It depended on the internal economic situation of each of them. It stood out against the background of previous economic crises due to the fact that only the introduction of state interventionism in the form of the “New Deal” program in the USA brought about an improvement in the situation, and therefore, in 1933, some economic recovery began in the world. However, in some parts of the world (including Poland), due to the specific features of their economies, the crisis lasted until 1935. The crisis of 1929–1935 was rightly called “the great crisis”, not only because of economic problems, but also due to political consequences, i.e., the strengthening of totalitarian systems in Western Europe and the growing importance of the communist movement around the world (the USSR was the only country not affected by its consequences). The great economic crisis was characterized by:
 
 longevity – in industrial countries it lasted until 1933, and in agricultural countries until 1935;
 depth of impact – it covered all areas of the economy: industry, agriculture, domestic and foreign trade, transport, monetary and credit system;
 wide geographic scope – it covered all countries of the world connected with the world capitalist system and capitalist economies;
 the scale of the decline in economic growth rates – in the history of economic crises to date, the world economy has not experienced such a deep collapse and stagnation.

Utility of Designing Intelligent Algorithms to Streamline E-Commerce Operations and Construction Costs Estimates by Applying Principles of Sharing Economy: Coestim

Through technological advances and the use of online platforms, the perfect environment was created to revolutionize the field of construction. Over the years, this field has faced difficulties in optimizing resources and reducing time and costs, but the maneuverability and operability of the project delivery process, of which are crucial elements. The economic and industrial crises of the last decade have exerted enormous pressure in the process of maximizing quality, being necessary models and algorithms to obtain an ideal recipe. This article presents the first proposal of a metaheuristic algorithm capable of optimizing the most important objectives of service providers in the time-quality-cost ratio without reaching a compromise disadvantaging one of the basic characteristics. The model is applied in the generation of estimates, revolutionizing the field of construction, based on the cost-estimate motto that leads to the abbreviation Coestim.

ASITA'S IN MANAGEMENT OF TRAVEL AGENCY IN SOUTHERN TANGERANG AS CULTURAL TOURISM BUSINESS OPPORTUNITIES IN THE ERA OF DIGITALISATION

Many travel agency business owners face a tourism industry crisis that has not improved in the last two decades due to the effects of the covid 19 outbreak, which has been the focus of community service efforts in recent years. The South Tangerang ASITA community, in conjunction with the South Tangerang City Tourism Office (Dispar), recently hosted a Travel Agency (BPW) Training and deliberations on the Tangerang Association of The Indonesia Tour & Travel Agencies (ASITA) branch as part of efforts to revitalise the city's tourism industry during the current endemic period. Southern Tangerang also cooperates with Universitas Respati Indonesia and LSP WHI. This training event proves that ASITA South Tangerang is ready to exist again as an entry point for Banten tourism and alternative tourism for residents and foreign tourists. As a result, ASITA is reaching out to travel agents to explore online travel business opportunities in this age of rapid digitalisation together. South Tangerang's tourist attractions are evidence of the region's appeal to domestic and international travellers; seizing this opportunity, ASITA members have relaunched their tour and travel agency. South Tangerang City's tourism industry players need to get creative in the face of digital disruption if they want to grow their enterprises and thrive in the emerging market conditions. Tourism marketing management has undergone significant transformations to adapt to the digital age. South Tangerang City's government, hotels, gastronomic SMEs, the Creative Economy, and ancillary service providers are all working together to boost the quality of their human resources in the tourism sector. Then, employ digital tourism for more proactive advertising and to maintain infrastructure on access to tourist destinations and communities near tourist destinations

Endolysins against Streptococci as an antibiotic alternative.

Multi-drug resistance has called for a race to uncover alternatives to existing antibiotics. Phage therapy is one of the explored alternatives, including the use of endolysins, which are phage-encoded peptidoglycan hydrolases responsible for bacterial lysis. Endolysins have been extensively researched in different fields, including medicine, food, and agricultural applications. While the target specificity of various endolysins varies greatly between species, this current review focuses specifically on streptococcal endolysins. Streptococcus spp. causes numerous infections, from the common strep throat to much more serious life-threatening infections such as pneumonia and meningitis. It is reported as a major crisis in various industries, causing systemic infections associated with high mortality and morbidity, as well as economic losses, especially in the agricultural industry. This review highlights the types of catalytic and cell wall-binding domains found in streptococcal endolysins and gives a comprehensive account of the lytic ability of both native and engineered streptococcal endolysins studied thus far, as well as its potential application across different industries. Finally, it gives an overview of the advantages and limitations of these enzyme-based antibiotics, which has caused the term enzybiotics to be conferred to it.

Above and Beyond: Helping Behaviors Among Nurses During COVID-19

The coronavirus pandemic has created a crisis in the healthcare industry, with unprecedented levels of turnover, burnout, and stress. As such, frontline healthcare workers must rely more and more on each other to maintain their safety and performance. Integrating social exchange theory (SET), research on task-focused and person-focused helping, and reciprocal models of exchange, the current study extends the literature on social exchange and reciprocity by examining helping behaviors that occur without expectation of return. In the novel context of COVID-19, results from self-report surveys provide support that, despite assumptions of SET, individuals may continue to invest in partners regardless of perceived reciprocity. In addition, perceived coworker efficacy predicted helping behaviors independent of reciprocity, suggesting that individuals are willing to engage in helping behaviors despite a lack of calculated return at the individual level. These findings open several avenues for future research into the behaviors and reactions of individuals working under the stress of negative reciprocity relationships.

Digital Opportunities for Local Journalism: A Panel Data Analysis on the Economic Performance of Online-Only vs. Print Newspapers

Digitalisation led to a structural crisis in the newspaper industry, undermining revenues from both readers and advertisers. Economies of scale play a central role in the newspaper business, but in a context of falling incomes, the major route to take advantage of them is the reduction in the asset size and operating costs. The digital business model can be a way to increase companies’ profitability, as online-only media publishers do not need as many assets and costs as their print counterparts to operate. Digitalisation is particularly interesting for local news outlets, since they operate in small markets and could have difficulties to reach an optimal size. However, there are little empirical evidence on how digital business models influence the profitability of newspapers. Using a sample of 198 and 69 Spanish print and online-only media publishers, respectively, during the period 2008–2018 and applying a dynamic panel data methodology, this article analyses the extent to which the main features defining print vs. digital business models affect firms’ profitability. Empirical evidence reveals a better performance of digital publishers, with lower material costs being the route through which the digital business model benefits from the economies of scale and achieves greater efficiency.

Establishment of a male fertility prediction model with sperm RNA markers in pigs as a translational animal model

BackgroundMale infertility is an important issue that causes low production in the animal industry. To solve the male fertility crisis in the animal industry, the prediction of sperm quality is the most important step. Sperm RNA is the potential marker for male fertility prediction. We hypothesized that the expression of functional genes related to fertilization will be the best target for male fertility prediction markers. To investigate optimum male fertility prediction marker, we compared target genes expression level and a wide range of field data acquired from artificial insemination of boar semen.ResultsAmong the genes related to acrosomal vesicle exocytosis and sperm–oocyte fusion, equatorin (EQTN), zona pellucida sperm-binding protein 4 (ZP4), and sperm acrosome membrane-associated protein 3 exhibited high accuracy (70%, 90%, and 70%, respectively) as markers to evaluate male fertility. Combinations of EQTN-ZP4, ZP4-protein unc-13 homolog B, and ZP4-regulating synaptic membrane exocytosis protein 1 (RIMS1) showed the highest prediction value, and all these markers are involved in the acrosome reaction.ConclusionThe EQTN-ZP4 model was efficient in clustering the high-fertility group and may be useful for selection of animal that has superior fertility in the livestock industry. Compared to the EQTN-ZP4 model, the ZP4-RIMS1 model was more efficient in clustering the low-fertility group and may be useful in the diagnosis of male infertility in humans and other animals. The appointed translational animal model and established biomarker combination can be widely used in various scientific fields such as biomedical science.

Financial crisis of Indian sugar industry: Case study of Uttar Pradesh

The sugar industry is in the middle of a severe financial crisis. It’s getting harder and harder for the industry to keep up with payments to cane growers because of its persistent cash flow issues. Sugar prices continue to fall on a monthly basis. A government incentive to increase raw sugar production and exports was announced, but prices have fallen even further. Teng, Y. P., & Liu, Y. A. [17]. Oversupply in the domestic market has led to record cane arrears in the Indian sugar industry. Mills’ inability to generate cash flow due to low sugar realisations has also led to financial crises. The research paper is divided into three major portions. The first portion is the descriptive study of Indian sugar industry. Second portion is regarding the identification of the problem through the short empirical analysis. Some key indicators are being analyzed through the financial ratios. After finding out the challenges in sugar industry, the government support and policies drafted to bring back the industry on track are discussed in the third portion.

Job satisfaction of arbitration managers

The relevance of the study is determined by the expansion of theoretical findings in the field of sociology of work, in particular, in the study of job satisfaction of arbitration managers under the State Duma’s consideration of the draft law No. 1172553-7 “On Amendments to the Federal Law ‘On Insolvency (Bankruptcy)’ and Certain Legislative Acts of the Russian Federation”. To assess the level of job satisfaction of arbitration managers, the authors conducted an analysis of the features of their professional activities with an expert survey - to reveal their opinions on the state of the institution of insolvency (bankruptcy), its upcoming reform, and the level of their job satisfaction. Unlike most studies in this field, in which the emphasis is made on the social-legal status of arbitration managers, the authors consider the main social-psychological criteria for their job satisfaction, including remuneration, additional benefits and working conditions in the field of insolvency. The information base of the study includes a secondary analysis of the statistics of insolvency procedures in 2016-2020 and an expert survey (25 active arbitration managers with more than three years of experience were interviewed). The authors conclude that arbitration managers have a low level of job satisfaction, which is explained, first of all, by the extremely high workload and responsibility (including the risk of disqualification for three years for committing formal offenses that do not pose a danger to public relations and do not lead to violations of the rights of creditors, the debtor and society), conflict of procedures, lack of sociallabor guarantees, the variability of legislation, and several ‘control centers’ with opposing interests. These factors reduce interest in the profession of arbitration manager, which may lead to a crisis in the insolvency industry due to a shortage of highly qualified specialists.

КРИЗОВІ ЯВИЩА ТА ЇХ ВПЛИВ НА ФУНКЦІОНУВАННЯ ІНДУСТРІЇ ГОСТИННОСТІ

The article analyzes the components of crisis phenomena and their impact on the functioning of the hospitality industry. The crises in the hospitality industry caused by the armed aggression in the east of the country, the annexation of the Crimean Peninsula, the outbreak of COVID-19, the military invasion of the Russian occupiers are considered and their consequences are studied. It is noted that influencing key sectors of the economy, the hospitality industry is increasingly becoming one of the most important indicators of socio- economic development, both in certain regions and the country as a whole. Crisis phenomena, which are constantly in close contact with the economy, have significantly affected the behavior of the hospitality industry, the use of new technologies for production, hired labor, procurement of necessary equipment, lower incomes, higher raw materials, higher taxes, higher utility tariffs and other economic factors. At the same time, hotel and restaurant enterprises form and provide services that meet the physical and spiritual and moral needs of the population and have a significant consumer demand, regardless of the social status of citizens. At the same time, a number of services of hotel and restaurant business enterprises carry increased social responsibility to citizens. These issues cannot be left without special attention and control by the state. The state must make much more efforts to support all hospitality industries, especially the tens of thousands of small business owners, whose rapid resumption will allow them to re-employ and retain millions of employees. Prospects for further research are scientific research on new systems of reforming the industry, because despite the fact that in recent years has accumulated considerable experience in the methodology of crisis diagnosis, the hospitality industry periodically experiences economic crises that depend on a number of factors study and improvement, which determines the feasibility of further research aimed at improving the development of hotel and restaurant business in times of crisis.

매칭-이중차이방법을 이용한 산업위기대응특별지역 제도의 고용효과 분석

본 연구는 산업위기대응특별지역 제도에 대한 정책 효과성을 학술적으로 분석하였다. 정책 도입 후 정책효과 발현을 위해 요구되는 최소 소요 기간과 실증분석을 위한 자료의 제한으로 산업위기대응특별지역 제도의 순수한 정책효과 분석은 그동안 많지 않았던 것이 사실이다. 보다 엄밀한 정책 효과성 평가를 위해 본 연구에서는 선택 편의와 내생성(endogeneity) 문제를 최소화한 매칭-이중차이방법(matched double difference)을 이용하여 분석을 실시g하였다. 분석 결과, 고용보험 적용 사업체 수와 관련하여 산업위기지역에 대한 지원정책은 기존 기업의 소멸을 막고 기업의 신규진입을 유도하는 데 어느 정도 긍정적인 효과가 나타난 것으로 분석되었다. 유사하게, 고용보험 종사자 수 측면에서도 산업위기지역에 대한 지원정책은 해당 지역의 극심한 고용침체로부터 점진적인 고용의 회복세가 나타나도록 유도하는 데 있어서 긍정적인 영향을 미친 것으로 나타났다. 유효구인배율의 경우에도 영향의 크기(magnitude)는 상대적으로 미약한 수준이었으나 긍정적인 효과가 나타났다. 이러한 결과는 현재까지의 산업위기대응특별지역 제도가 해당 지역의 급속한 위기완화-연착륙(위기업종 기업 및 근로자, 지역주민지원)이라는 측면에서 목표를 상당 부분 달성하고 있음을 암시한다.

The global shortage of semiconductor components as a source of the current crisis in the global automotive industry

Purpose: of this article is to identify the causes of the automotive industry crisis in 2020–2022, which led to the shutdown of the conveyor lines of the largest automotive companies around the world, based on the study of the degree of dependence of the automotive industry on microelectronic components.Methods: in preparing the work, a complex of scientific research methods was used, in particular, the method of system analysis, as well as conceptual-methodological and logical methods.Results: during the COVID-19 pandemic, the global automotive industry faced two unforeseen shocks that virtually paralyzed production output. The first of them was associated with a deep drop in demand for automotive products. The second – with the complete depletion of the semiconductor industry's production capacity for the release of critical microcircuits necessary for the production of cars. Both events, directly related to the change in consumer behavior during the pandemic, provoked a severe industry crisis, in which the automotive industry has been to this day. The resulting shortage showed the fragility of existing supply chains and the precariousness of the practice of "immediate production" in emergency economic conditions.Conclusions and Relevance: the crisis of the automotive industry in 2020–2021 proceeded in two stages and was triggered by two mutually exclusive reasons from the point of view of economic theory. The first stage is a drop in demand, a «classic» crisis of overproduction. The second stage of the crisis is a chronic (continuing for a long time) shortage of microelectronic components for automotive production. It is this phenomenon that does not fit into the framework of a generalized understanding of the functioning of market economy mechanisms.

Review: Rock Star / Movie Star: Power and Performance in Cinematic Rock Stardom, by Landon Palmer

Review: <i>Rock Star / Movie Star: Power and Performance in Cinematic Rock Stardom</i>, by Landon Palmer

Figures of consolidated statements of cash flows of the world's leading publicly traded oil and gas corporations

Subject. The article considers the main figures of consolidated cash flow statements of twenty five leading publicly traded oil and gas companies from 2006 through 2018. Objectives. The purpose is to determine the current values of the main components of the said consolidated cash flow statements, to identify key trends in their changes during the study period, to establish the factors that led to the changes. Methods. The study draws on methods of comparative and financial-economic analysis, generalization of materials of consolidated income statements. Results. The paper determines dynamics of changes in the value of key indicators and their correlation in the structure of cash flow statements in the stock market sector of the industry, establishes the main factors that contributed to the transformation, based on the results of a comprehensive analysis of annual reports of 25 oil and gas companies. It shows an increase in cash from operating activities within the studied period; the dynamics of the indicator is quite consistent with the change in average annual oil prices, despite the integrated business structure of most companies; capital expenditures of companies also depend on the level of oil quotations with a general upward trend. The analysis demonstrated that the exploration and production sector often dominates in the structure of capital expenditures, even for integrated corporations. Free cash flow returned to its previous level after a fall during the global financial crisis, only when corporations at the height of the industry crisis were able to reduce capital expenditures, which increased during a favorable period. I also revealed a growth in dividend payments, which outperformed the free cash flow most of the time. This contributed to the debt burden growth. Conclusions. The stock market segment of the industry is characterized by the need to limit capital expenditures in order to maintain the free cash flow of companies.

Robust productivity growth and efficiency measurement with undesirable outputs: evidence from the oil industry.

This paper aims to contribute to the contemporary and imperative research on the performance and productivity growth of the oil industry. Among cutting edge methods, frontier analysis is a successful approach that has been widely used to assess the efficiency and productivity of entities with multiple resources and multiple outputs. This study first develops a unique framework based upon data envelopment analysis (DEA) to measure efficiency and productivity in the way that it tackles the uncertainty in data and undesirable outputs and, in turn, provides useful information to decision-makers. An adaptive robust optimisation is utilised to combat uncertain data whose distributions are unknown and consider the nexus between the level of conservatism and decision-makers’ risk preference. The key advantage of the proposed robust DEA approach is that the results remain relatively unchanged when uncertain conditions exist in the problem. An empirical study on the oil refinery is presented in situations of data uncertainty along with considering CO2 emissions as the undesirable output to conduct environmental efficiency and productivity analysis of the 25 countries over the period 2000–2018. The empirical results obtained from the proposed approach give some imperative implications. First, results show that the price of robustness does not affect identically for varying technologies when assessing productivity in a global oil market, and the USA oil industry is observed as the highest productivity growth in all cases confirming its efforts for the rapid rise in oil extraction and production at low costs. There may be practical lessons for other nations to learn from the USA oil industry to improve productivity. Findings also support a considerable regress during the 2008 Global Financial Crisis in the oil industry compared to the rest of the periods in question, and due to monetary and fiscal stimulus, there is a sharp productivity growth from 2009 to 2011. The other implication that can be drawn is that the GDP growth rate and technology innovation can more effectively improve the productivity of the oil industry across the globe.Supplementary InformationThe online version contains supplementary material available at 10.1007/s00291-022-00683-y.

Tourist potential of Ukraine: post-crisis aspects of development and government regulation

Introduction. The tourism industry in many countries around the world is a priority for not only ethnic culture, but also the national / regional economy as a whole. At the same time, the tourism industry is a specific and quite complex object of public administration. The current situation in the tourism sector requires the state to seek ways to overcome the crisis actively, intensify the production of tourism products to ensure the necessary quality and effective implementation of existing tourism potential. The purpose of the article is to study the basis for the formation and development of tourism potential of Ukraine due to the crisis, new opportunities for state regulation of tourism market transformations in accordance with modern conditions and determine its impact on national tourism in the modernization of public policy. Results. The mechanism of integrated tourism development and infrastructure rehabilitation has allowed to form centers of growth and regional development and to ensure the functioning of interregional ties in tourism. The conceptual mechanism of formation and development of tourism potential of Ukraine is substantiated, including through a system of key institutional actors that determine its public administration and identify priority functions of the state in the field of tourism. A number of main problems that hinder the realization of Ukraine's tourism potential have been identified and basic conceptual tasks of state regulation at the current stage of development of the tourism services market have been proposed. At the same time, the priorities of the near future development of state policy in the field of tourism are: to develop the tourism industry and tourism by ensuring income growth, job creation, improving the quality and standard of living of citizens; rational use of tourism resources, including finance; to create conditions for the implementation of activities designed to educate, train and rehabilitate citizens; to form the consciousness of the population, which is expressed in hospitality towards tourists coming from other countries, etc. Conclusions. According to the results of the research it is established that the development of the tourist sphere does not correspond to the tourist potential in Ukraine, and the basic limiting factors of its realization and formation are determined. The degree of overcoming the crisis in the tourism industry depends on the capabilities of the national economy, as well as on the strategic goals of tourism policy of the state, local governments and tourism organizations. State policy in the field of tourism as a directed activity of the state, designed to ensure the regulation of the organization and functioning of tourism, to provide conditions for the development of tourism and attract tourists from other countries. Keywords: tourism, tourism potential, tourism industry (sphere), tourism product (service), tourism market, tourism crisis, priorities of state policy in the field of tourism.