Economic Sectors Research Articles

Analysis of financial contagion among economic sectors through Dynamic Bayesian Networks

Crises severely impact economies and may spread across regions or sectors in a process called contagion. Understanding this process is crucial for anticipating crises’ effects and implementing mitigative strategies. Specific economic sectors may be major crisis propagators: banking and insurance are often considered decisive in this context. This study employs Dynamic Bayesian Networks to model sectoral interdependencies within the U.S. economy, utilizing daily data from nine Dow Jones industrial indices over the period 2000–2020. As a secondary objective, we evaluate whether the insurance industry plays a central role in spreading crises. Several crisis periods are analyzed, from dot-com bubble to Covid-19 pandemic. The results reveal the subprime crisis, European debt crisis and the 2016 presidential election as the main contagious periods. The last analyzed period – Covid-19 pandemic – was divided in two phases, showing, on phase 1, an interconnected economic system with three main spreaders (Oil & Gas, Real Estate and Pharmaceutical) and, on phase 2, the same configuration of the post-subprime. Furthermore, although the insurance sector was somehow relevant during subprime crisis, it primarily acts as a contagion receptor, specially from the banking sector, with the correlation between them being the highest of all, reaching 0.49 at the last period.

Labor markets during COVID-19: gaps and challenges in Latin America.

The effects of the COVID-19 pandemic on Latin American labor markets continue to be quantified, to identify the social and economic impacts that this pandemic had, and to design more efficient public policies that would protect the most vulnerable groups. For this reason, the research question was as follows: what were the changes in the labor formality rates before and two years after the main contingency measures of the COVID-19 pandemic were implemented? Using data from Argentina, Bolivia, Chile, Colombia, Ecuador, Guatemala, Mexico, Peru, and Uruguay, the formality rate (τ) was analyzed, which was calculated using a weighted average between the formal employment rates of the number (i) of economic sectors (p) in a specific period (t). The results suggest that the weighted labor formality rate increased in the countries of the region. These changes in formality could be the result of greater capital accumulation, the integration of productive processes, the integration of commercialization processes, and differentiated fiscal stimuli (i.e., the intrasectoral aspect), but it was not due to the displacement of workers from highly informal economic sectors to more formalized sectors (i.e., the intersectoral component). The findings emphasized the precarious situation of women in the region, regardless of the country, particularly in Ecuador, Peru, Bolivia, and Argentina. These findings suggest the need to design public policies that reverse the current situation of the labor market and prevent future economic shocks, with special emphasis on the informal sector and women.

Evolution of global water footprints of crop production in 1990–2019

Abstract Crop production has the largest water footprint (WF) of all economic sectors and ranks as a leading cause of water scarcity. Despite this, our understanding of historical changes in global WFs of crops remains limited. In this study, we analyse the recently published dataset on green and blue WFs of 175 individual crops in 1990–2019. We explore the main changes in unit WFs (expressed in m3t−1 yr−1) and WFs of production (m3 yr−1) and connect the observed changes to various physical and socio-economic drivers. We find that nearly 80% of crops reduced global average unit WFs (required less water per tonne) as crop yields improved and cultivation centred around more productive areas. However, the total WF of crop production increased by 30% as these productivity gains were insufficient to compensate for cropland expansion of mostly water-intensive crops. Close to 90% of the increase occurred between 2000–2019 likely driven by accelerated economic growth, globalisation, changing diets, and production of first-generation biofuels. Among crops, we observe the largest increases for oil palm fruit, soya beans, and maize as they became the main providers of crop-based nutrients, animal feed, and biofuels for the modern economy. Among regions, most of the increase occurred across the tropics, mainly in Indonesia, Brazil, and Nigeria. However, India, China, and the USA had the largest WFs of production over the study period. Humanity consumed 6.8 trillion m3 of water (87.1% green) to produce crops in 2019. This number is likely to increase in the future which may exacerbate already existing environmental and socio-economic issues. Thus, it is important to transition to more water-sustainable agrifood systems. Much potential still exists in increasing crop water productivity, shifting production to less water-scarce geographies, and rethinking our dietary and industrial consumption patterns.

Marine macrolitter and cigarette butts hazard multiple-use marine protected area and fishing community at Brazil

Wide marine litter (ML) contamination impacts human health and economic sectors including fishing, navigation, and tourism. Perequê beach, Brazil, is an authentic fishing community within a touristic multiple-use marine protected area. However, no ML contamination monitoring were so far performed in the region. This study evaluated the spatiotemporal abundance, composition, sources, and associated ML hazards at Perequê beach using a multi-index approach. The 2579 items (0.64 ± 0.72 items.m−2) yielded a high contamination level (CCI = 12.6 ± 14.4) with plastic (44.6–50.9 %) and cigarette butts (20.6–28.4 %) prevalence, while primary sources were smoking (cigarette butts, lighters, others-21.2–30.1 %) and packaging (17.8–22.8 %). Levels of pollutants leaked from cigarette butts (CBPI = 30.5 ± 47.5) and hazardous items (HALI = 3.06 ± 2.64) were among the highest globally. Heightened levels occurred in summer, at dry sand strip, where short-term buoyant items prevailed. Multi-indexing approaches offer valuable insights for local authorities to implement mitigation programs, while contributing to global discussions, promoting awareness, and facilitating replicability.

DEVELOPMENT SCENARIO SELECTION AND ORIENTATION PROPOSAL FOR KEY ECONOMIC SECTORS SUPPORTING THE STRATEGIC ENVIRONMENTAL ASSESSMENT OF DIEN BIEN PROVINCIAL PLANNING (2021-2030) WITH A VISION TO 2050

The Strategic Environmental Assessment (SEA) for the "Dien Bien Provincial Planning for the 2021-2030 period, with a vision to 2050" is conducted on the basis of Viet Nam's legislative framework, national and regional planning, as well as the economic development orientation of Dien Bien province. In this article, potentially environmentally impacting content of the planning will be discussed, in which, development scenarios will be proposed and feasible scenario for the development of Dien Bien Province, the development targets, and orientations of important economic sectors will be selected. Three growth scenarios have been proposed for Dien Bien Province: the baseline scenario, the high growth scenario, and the breakthrough scenario. The most feasible one is the high growth scenario. In this scenario, the main specific targets by 2030 are: The average economic growth rate in the 2021-2030 period is 10.51%/year, in which the agriculture, forestry and fishery sector and the industry - construction sector will grow at the rate of 6.54% and 18.64%/year, respectively, in which the figure for the industry sector is 17.30%/year and that of the service sector is 7.15%/year. Regarding the economic structure by 2030, the agriculture, forestry and fishery sector will account for 12.0%; the industry - construction sector will account for 44.3% (in which the share of the industry sector is 15.4%) and the figure for the service sector is 39.6% of the province’s Gross National Produc (GRDP). The research oriented the development of a number of important sectors such as: industry, construction, tourism, trade and services, and agriculture, forestry and fishery. Selecting feasible development scenarios with specific targets will contribute significantly to proposing development orientations for sectors having great impacts on the environment to support the SEA of Dien Bien Provincial Planning for the 2021-2030 period, with a vision to 2050.

Bioeconomics in Agribusiness: Trends and Opportunities of Business Through the Use of Biotechnologies

Objective: Its main objective is to identify trends and business opportunities in the agribusiness sector through the use of biotechnologies, from the perspective of the bioeconomy. In addition, it has as its specific objective to show the bioproducts already existing on the market and what are the main obstacles for the adoption of the use of biotechnology by agribusiness. Theoretical Reference: In this topic, the main concepts and authors on bioeconomy, bieconomy in Brazil and bioeconomy of agribusiness are presented. Method: 11 interviews were conducted with researchers, businessmen and public servants from institutions such as Embrapa (Ceará and Amazônia poles), Renorbio, Ceará's Secretariat for Science and Technology and the State of Ceará's Secretariat for Agrarian Development. Results and Discussion: The results of the research show that there are various products and practices of agribusiness that involve biotechnology, such as the use of organic waste for the emergence of other products, what the interviewees called added value, innovative products such as cashew burgers, probiotic and prebiotic juices, bioadhesives and bioplastics, water reuse, among others. However, for the emergence of these products and practices, there are several obstacles such as prejudice with the use of technologies, lack of a regulatory framework, lack of public and private incentives, lack of public policies, lack of investments in research, among others. Originality/Value: the importance of the agribusiness sector for the country's economy, the business opportunities presented, sustainable practices, consumer behavior, among others, is highlighted.

Perceptions of Public and Private Sector Stakeholders on the Benefits and Challenges of Public-Private-Partnerships in Nigeria

Nigeria’s infrastructure deficit has become acute because of the country’s burgeoning population. The Public-Private Partnership (PPP) model, under labels such as Private-Finance Initiative (PFI) and Build Operate-Transfer (BOT), has been touted as the solution to the funding and other challenges confronting the country with regard to infrastructure development. This research sought to examine stakeholder experiences and perceptions on the benefits, abuse and challenges of deploying PPP for infrastructure procurement. The stakeholders investigated were in Lagos and Ogun States of Nigeria, although some of the experiences transcended the two states. Copies of the questionnaire were purposively administered to 115 professionals drawn from the built environment as well as from the legal and financial sectors of the Nigerian economy; the professionals were from the private and public sectors. Eighty-six (86) copies of the questionnaire were returned, with the data subjected to descriptive and inferential statistical analyses. Ranking highest among the list of thirteen identified challenges investigated was ‘political interference outside the agreed rules of running the PPP framework’, while ‘inability to initiate or package PPP projects’ ranked least. The most significant form of abuse or disadvantage was ‘embezzling of public funds and reinvesting in PPP as private sector investor’, while the least significant form of abuse was determination of the concession period. The inferential statistical analyses found no significant difference between both sectors in the assessment factors except in the matter of ‘more careful approach in investing funds in infrastructure’. It is therefore recommended that there should be a continuous audit of stakeholder perceptions on various PPP issues that can form the baseline for impactful improvement and intervention in PPP projects.

Measuring business impacts on the sustainability of European-listed firms

The Environmental, Social, and Governance (ESG) themes assume a central position in the foundation of business strategies and risk management for both private managers and financial institutions. Measuring the sustainability commitment of listed companies is required by regulators and Monetary Authorities and plays a pivotal role in the selection process for asset management companies. ESG ratings are used to assess the company’s commitment to sustainability. This paper explores how a firm business, measured by balance sheet data, influences the ESG rating. In particular, we focus on Europe, which countries first paved the way for the sustainable transformation of the economy through various policies and initiatives. We employ a Machine Learning approach to discern the non-linear relationships between ESG ratings and corporate data aiming to identify the prime factors influencing the ESG ratings. We can assess potential country or business sector-based discrepancies by selecting a sample containing firms listed on the major European indices (AEX, BEL, CAC, DAX, FTSE, FTSE-MIB, IBEX, OMX). We find that the firm size, measured by total assets, and the carbon intensity are the variables that most influence the ESG rating in countries where the economic sectors rely mainly on the business cycle and economic conditions. For companies operating in the technology, financials, and industrial sectors, the main ESG driver is the asset turnover ratio, which is a measure of the efficiency with which a company generates revenues, and the EBIT to revenue, which is a measure of the operating margin asset turnover and the Earnings Before Interest and Taxes (EBIT) to revenue ratio. We discover diverse factors affecting ESG ratings across various European countries, highlighting the impact of each nation’s policy on ESG commitment.

Perspectives and challenges for the development of leadership in Latin American women

Throughout history, women have faced diverse Challenges and played multiple roles in society. Today, the pursuit of equality in all economic sectors continues, with Women striving to establish themselves as leaders in areas such as the productive sector, politics, and science. This transition has been characterized by constant changes and persistent challenges. This article explores the development of leadership and emotional intelligence in Latin American women, analyzing various perspectives and associated challenges. It addresses the barriers they face in developing leadership skills, as well as the need to improve their emotional intelligence to seize opportunities, develop and execute strategies, and overcome these barriers and challenges. Leadership among Latin American women is a complex and multifaceted topic that requires recognition of the influence of cultural, social, and geopolitical factors that are constantly changing globally. These factors impact women’s leadership in the region, perpetuating structural and systemic barriers such as gender discrimination, lack of access to educational resources, limitations in professional development, and socioeconomic factors such as poverty and inequality. These conditions have hindered the full development of women in the public and professional spheres. To promote female leadership, programs and policies are needed that promote gender equality through organizational and governmental practices that empower women and encourage their participation in leadership roles and decision-making.

The effect of Islamic financial literacy on business performance with emphasis on the role of Islamic financial inclusion: case study in Indonesia

Purpose Recently, financial inclusion promoters have observed that financial literacy is a vital tool for financial inclusion growth, especially among the poor who are considered financially illiterate. The purpose of this paper is to look at the role of Islamic financial literacy (IFL) and inclusion in improving the performance of micro, small and medium enterprises (MSMEs) in Indonesia. Design/methodology/approach This study uses questionnaire data collected as many as 197 MSMEs. This study was analyzed using structural equation modeling approach to test the hypothesis. Findings The results show that IFL is an important variable to increase Islamic financial inclusion. The results also show that both have a significant influence in developing the MSME sector business. Research limitations/implications This research is not without limitations. This study only adopted a sample in one Province in Indonesia with focus on creative economy sector and some others sectors located in the province of Riau, therefore ignoring suburban and urban areas in Indonesia. Therefore, future studies using a cross-sectional research design are feasible. In addition, this study only uses quantitative data, so that qualitative research with key informant interviews can be considered for further research. Practical implications The findings of this study enlighten policymakers, managers of financial institutions and advocates of financial literacy and inclusion about the importance of improving the performance of MSMEs. As a policy recommendation, this study suggests that Islamic policy makers and financial institutions should play a proactive role in increasing service outreach and providing the regulatory environment needed for MSMEs given the important role MSMEs play in the Indonesian economy. Originality/value This study combines functional components (behaviors and attitudes) and nonfunctional measures (knowledge and skills) of financial literacy and financial inclusion in explaining the performance of MSMEs. Thus, this research is an initial effort to explain financial literacy and inclusion on the performance of MSMEs.

Marketing Strategy Development in Entrepreneurship in the Creative Economy Sector, Tourism Sub Sector

To overcome the challenges in the tourism sector during the COVID-19 pandemic and restore the national economy, a strategy is needed to be able to survive and recover. One strategy that can be done is to innovate in marketing, find new markets, and guarantee security from the threat of COVID-19. This will make tourists interested in visiting and continue to comply with health protocols so as not to be exposed to COVID-19. In addition, it is hoped that tourism in Indonesia can recover after experiencing a downturn due to the COVID-19 pandemic. This research aims to analyze marketing strategy development in entrepreneurship in the creative economy sector, tourism sub sector. This type of research uses qualitative research. The object of the research is the creative economy sector, tourism sub sector in Indonesia. Data collection for research purposes uses secondary data. Data analysis in this study uses qualitative data analysis. The results of the study indicate that the preparation of marketing strategies in entrepreneurship in the creative economy sector, tourism sub sector aims to obtain, maintain, and increase tourist visits. The strategy consists of environmental analysis, marketing research analysis, and positioning analysis.

The political economy of gender mainstreaming in energy access in Senegal

Abstract In June 2017, the Economic Community of West African States adopted the Policy for Gender Mainstreaming in Energy Access to integrate gender equity in West Africa’s energy and climate policy making. The policy represents the first regional gender and energy policy in the world, establishing a framework to enhance understanding at the nexus of gender and energy, improve the inclusivity of policies, programs, and initiatives, and increase women’s participation in the field of energy in the public and private sectors. Each member state developed a National Action Plan (NAP) to operationalize these goals and align implementation with national contexts and policy priorities. This study examines the experience of Senegal’s NAP development, from 13 semi-structured interviews of key stakeholders and document review. We use the Actors, Objectives, Context political economy framework to understand how Senegal’s economic and political structures, historical and social context, and influence of key stakeholders shaped their efforts to mainstream gender in the country’s energy sector. We then describe four main objectives of actors in government, civil society, and the development space involved in policy development, summarizing these as: electricity access, economic development, access to clean fuels and technologies for cooking, and gender equity. We find that the objectives of government and development actors are reflected in the emphasis on energy access in the NAP and the government’s long-term development agenda, though a critical lack of engagement with the private sector has limited the policy’s efforts to mainstream women across energy sub-sectors beyond clean cooking. Women’s civil society organizations, historically less engaged with energy issues, have nonetheless achieved considerable success in advocating for increased women’s political participation. This advocacy has set a precedent for policies promoting ‘positive discrimination’ for women and marginalized groups, evident in policy activities aimed at electrifying women’s economic sectors.

Financial crime risk assessment: machine learning insights into ownership structures in secrecy firms

ABSTRACT This study examines the relationship between corporate secrecy and financial crime, presenting an analytical framework to strengthen risk assessment efforts. We develop secrecy indicators using corporate ownership data from over 2.6 million firms across eight European countries. These indicators are validated using machine learning models built upon evidence of crime committed by firms and/or their owners. The results demonstrate robust predictive power: firms with complex structures and owners from high-risk jurisdictions show a higher likelihood of engaging in illicit activities. Incorporating macro-level information, such as geographic location and economic sector, enhances the understanding of this phenomenon. These findings advance empirical knowledge about the nexus between secrecy firms and crime, offering anti-money laundering authorities novel machine learning tools for effective risk assessment.

THEORETICAL ASPECTS OF FORMATION FINANCIAL RESOURCES TO ENSURE SUSTAINABLE DEVELOPMENT

The article aims to study the mechanism of financing sustainable development to ensure a balanced approach to economic, social, and environmental development. The article examines the theoretical aspects of forming financial resources necessary for sustainable development. Sustainable development involves a balanced approach to economic growth, social well-being, and environmental protection, which requires adequate funding. The main conceptual approaches to defining sustainable development and financial resources are analyzed, focusing on their interrelationship. One of the key issues of the concept of sustainable development is the search for effective sources of financing for the implementation of sustainable development projects. The article considers the possibilities of attracting both public and private funds, including investments, grants, loans and other financial instruments. However, it also emphasizes the crucial role of international financial institutions and organizations in supporting national sustainable development strategies, highlighting the global nature of the issue and the need for international cooperation. The question of the distribution of financial resources between different economic sectors was studied to achieve the maximum effect from their use. Financial planning and management tools that can ensure optimal use of resources are considered separately. The positive dynamics of the growth of expenses for financing sustainable development in Ukraine are shown; however, a negative trend can be observed in terms of the direction of funds from 2022, namely, the volume of financing has decreased in all directions except for the allocation of funds for social protection and social security. The impact of financial resources on the implementation of sustainable development programs is analyzed, including issues of efficiency and transparency of their use. The importance of creating favorable conditions for attracting investments, developing partnerships between the public and private sectors, as well as the need to increase the financial literacy of the population was determined. This underscores the need for education and empowerment in financial matters, as it is a key factor in the successful implementation of sustainable development strategies. Based on the conducted research, it was concluded that the effective formation and management of financial resources is a key factor in the successful implementation of sustainable development strategies. It is recommended to develop a comprehensive system of monitoring and evaluating the effectiveness of the use of financial resources to ensure the achievement of sustainable development goals.

ACTIVITIES OF NON-STATE MILITARY INSTITUTIONS: ECONOMIC ASPECT

The subject of the study is the economic aspect of the activities of non-state military institutions (private military companies), in particular, the increased demand for the services provided by them, and the state regulation of their activities by national legislation of leading foreign countries and international acts. The methodological basis of the study is modern general scientific methods (systemic and structural, formal and logical, analysis and synthesis, induction and deduction, generalisation, comparative); special methods (historical and legal). The purpose of the study is to analyse the economic aspect of non-state military institutions, based on the analysis of scientific works, experience of leading foreign countries and international practice, as well as the analysis of domestic draft laws on legalisation of military consulting activities in Ukraine. In the course of the study, the authors analysed the works of scholars who have studied various aspects of private military campaigns (legal, economic, security) and their regulation in foreign countries, as well as international legal norms on the regulation of the activities under study. In addition, the authors critically analysed domestic draft laws on legalisation, state regulation and supervision (control) over the activities of non-state military institutions in Ukraine. As a result of the study, it was established that the emergence of draft laws on the legalisation of the activities of non-state military institutions, their state regulation and supervision in Ukraine, on the one hand, is due to the aggression of the Russian Federation against Ukraine, which began in 2014. On the other hand, the economic consequences of privatisation in many industries and the need to compare the costs of the state's functions, including security, with the benefits received. Under such conditions, the business environment has demanded the introduction of a promising business activity and business sector – military consulting. Recently, this demand has been reinforced by the availability of a significant number of highly professional military specialists with experience and willingness to participate in relevant operations, including abroad. It is also understood that the demand for the services of non-state military institutions and the possibility of starting such activities in foreign countries where they are legalised will lead to an outflow of qualified specialists for employment abroad, and a loss of human resources and state budget revenues in the form of taxes paid by military consulting entities. At the same time, the existence of such entities in the country will help to improve the level of training of military personnel in the context of Russia's large-scale armed aggression against Ukraine by attracting specialists with relevant experience and willingness to engage in this type of business activity. In the post-war period, the existence of this type of legal activity will solve the problem of employment of former military personnel who wish to continue to work officially in the military and receive decent wages, and thus reduce social tensions in the economic sector.

Implementasi Algoritma A* (A-Star) untuk mencari Rute Tercepat dari Bandara Soekarno Hatta ke Destinasi Kota Tua Jakarta

The tourism sector is an economic sector that is growing rapidly. One of the best destinations that can be used as a tourist destination in DKI Jakarta is the Old City of Jakarta. The Old City of Jakarta has easy access and very affordable costs. There are many roads to the Old City of Jakarta, but the road to the Old City of Jakarta is very far away and has traffic congestion, especially towards the weekend, which could potentially make it difficult for tourists who want to visit. Therefore, we need an effective method that can help find the route with the shortest distance and fastest travel time. In this research, the method that can be used to find the fastest path or route is the A*Star algorithm. The results obtained after examining three routes (Jalan Kapuk Kamal Raya, Jalan Peta Barat and Jalan Raya Daan Mogot), obtained the fastest route with a distance of 5,881.5 KM, namely the Jalan Kapuk Kamal Raya route. By applying this method, it is hoped that it can solve the problem of determining the fastest route to the tourist location of the Old City of Jakarta.

ANALYSIS OF INVESTMENT ACTIVITIES IN THE AGRICULTURAL SECTOR OF UKRAINE: DETERMINATION OF FACTORS AND WAYS OF ITS ACTIVATION

The purpose of the article is to study the theoretical aspects of investment activity, analyse the current level of investment activity in the agricultural sector of Ukraine's economy and identify factors and methods of its increase. Methodology. The theoretical and methodological basis of the study is the fundamental principles of national economic management, investment activity and development of agricultural production entities. The research used the following scientific methods: axiomatic (to establish basic definitions that clarify the essence of the study), systematic (to identify components within the agricultural production sector), institutional (to construct the subject-object framework of the institutional environment for investment activity in agricultural production), correlation-regression analysis (to identify key predictors influencing investment activity in the agricultural sector), abstraction (to prioritise the stimulation of investment activity in agricultural production), and reproductive (to substantiate alternative strategies for attracting investment in agricultural enterprises). The results of the study show that diversification of investment sources and modernisation of technological infrastructure of agricultural production are important prerequisites for institutional reforms in the agricultural sector of the country. Increasing investment activity in agricultural enterprises can be achieved by creating a favourable investment climate. This includes government initiatives to create a transparent and stable regulatory framework, simplify bureaucratic processes, and ensure legal and financial stability. Another key aspect is to facilitate access to financial instruments such as low-interest loans, grants and subsidies to support the development of agricultural enterprises. The results of the study are presented in the form of tables, figures, graphs, diagrams and charts. Practical implications. Given the high level of integration of the domestic agricultural sector into the global food market, it is worth exploring the potential of using customs instruments to stimulate investment processes. Such instruments could include a zero VAT rate for investment agricultural goods and measures to prevent double taxation. Value / Оriginality. Investment activity in Ukraine can be intensified under the following conditions: ensuring financing for innovations; developing and implementing a system of measures to increase the investment activity of commercial banks; promoting the development of the stock market and venture capital; developing investment infrastructure; borrowing the best international experience in assessing the efficiency of business centres and business incubators; forming an investment and innovation culture in society, etc.

ISLAND TOURISM AND COVID-19: BUTLERS TOURISM AREA LIFE CYCLE, CULTURE, AND SWOT ANALYSIS

The purpose of this current research is to study island tourism during the COVID-19 pandemic. A unique island in the North Atlantic Ocean, in the Arctic region, was chosen to analyse island tourism. It is a European country, Iceland, located near the North Pole, at the "top of the world". In contrast to the well-known concept of sand island tourism, Iceland can be said to offer snow island tourism. In this remote area, the economic slowdown became noticeable somewhat later than in other regions of the world due to the COVID-19 pandemic. The methodology chosen to be presented in this study involves the use of a SWOT analysis to help clarify business strategy, applied to shed light on the strengths, weaknesses, opportunities and threats to a small open economy in the wake of the COVID-19 pandemic, focusing on island tourism, with a tourist destination located in the middle of the North Atlantic Ocean, almost equidistant from the US and Europe. The tourism industry in Iceland has grown substantially in recent years and has become the most important sector of the Icelandic economy in recent years, generating significant foreign exchange earnings for the country. In this analysis, tourism exports are presented as a share of GDP in line with international economic theories. Additionally, the country case study is considered in conjunction with the Butlers Tourism Area life cycle and culture in the analysis. The results of the SWOT analysis indicate that, when considering the strengths, weaknesses, opportunities and threats faced by the market, the overall growth potential of the market is significant. Practical implications include the need to strengthen the infrastructure further to best supply tourism opportunities. New opportunities are seen in online advertising, social media, digital marketing, food culture and historical culture, as well as sustainable and renewable resources. In addition, more attractions and pedestrian areas, as well as improved ski resorts. The value / originality of this study is somewhat unique, as it analyses island tourism, showing the successful development of tourism after the COVID-19 pandemic on remote islands in the North Atlantic Ocean. Ultimately, the summary and conclusions provide an overview and suggestions to consider when looking for ways to successfully promote tourism in the post-COVID crisis market.

Электронная информационная образовательная среда как экосистема в педагогическом процессе современного вуза

Development of the EIEE (electronic information and educational environment) is one of the most important topics in modern pedagogical research. This process is currently undergoing a lot of changes and requires its detailed understanding within the framework of pedagogical science, as modern educational programmes for specialists’ training require implementation of innovative digital technologies. Therefore, the purpose of the study is to carry out theoretical analysis and case study in order to systematize this concept in the context of implementing educational programs for training highly qualified specialists in various sectors of the digital economy. EIEE plays the key role in terms of implementing educational programs for training highly qualified specialists in various areas of digital economy. This paper provides generalized analysis of existing theoretical approaches to the concept of "ecosystem" and considers various views on EIEE’s development. Particular attention is paid to the authors’ approach, which is based on cooperation with industrial partners. In this context, it is proposed to create EIEE through the development of technical specifications, integration of cross-platform solutions and sharing resources. In the course of the study, the author comes to the conclusion that EIEE’s development is an important step towards evolution of educational programmes that meet the requirements of modern digital economy and contribute to training of a new generation of specialists, who are ready for challenges that future presents.

The effectiveness of the logistics systems of the APEC countries

The Asia-Pacific Economic Cooperation Forum is an international union for collaboration in the field of regional trade, simplification and liberalization of investments, which serves the interaction of countries and their economic sectors with various stages of development. Transport and logistics systems are necessary to offset the shortcomings caused by issues with safety, usefulness and, most importantly, supply efficiency. The forum's management regularly works out strategies to solve these problems without noticeable losses for resource bases such as financial security and labor. Significant differences in the development of the association countries require an analysis of the effectiveness of logistics as a tool for the growth of the participating economies, ensuring conditions for constant progress and adaptation of the best foreign experience. The authors concluded that the degree of infrastructure quality affects the effectiveness of logistics services, confirmed the close relationship between the level of economic competitiveness of the country and the degree of its logistics efficiency, found out that the criteria for logistics efficiency are based on indicators of the pace of digitalization of transport activities. It is also established that Russia is one of the regions that can be characterized as catching up with the rest in terms of logistics efficiency, therefore, domestic transport industry specialists should study and, depending on the conditions, introduce technologies from the world's leading global players, creating a comparative advantage over other participants.