Journal Regional Economy -- re2020.01.154

UDC [330.322:330.131.7]:338.48:[338.46:640.43]:005.334; JEL L83, O16
Smovzhenko, T. S., Korkuna, O. I., Korkuna, I. I., & Tsilnyk, O. Ya. (2020). Ryzyky investytsiynoyi diyal'nosti v sferi turyzmu ta hotel'no-restorannomu biznesi [Risks of investment activity in tourism and hotel-restaurant business]. Rehional'na ekonomika - Regional Economy, 95 (1), 154-160. DOI: https://doi.org/10.36818/1562-0905-2020-1-16. [in Ukrainian].
Sources: 15

Authors

Smovzhenko Tamara Stepanivna

Doctor of Economics, Professor

Professor of the Department of finance, banking and insurance of the University of Banking

Contacts: -ubs@ubs.gov.ua

Webpages:

Korkuna (Masna) Oryslava Ivanivna

Ph.D. of Economics

Associate Professor of the Department of hotel and restaurant business of the Lviv State University of Physical Culture named after Ivan Bobersky

Contacts: grafskayaorislava@gmail.com

Webpages:

Korkuna Ivan Ivanovych

Ph.D. of Economics, Associate Professor, Honored Economist of Ukraine

Associate Professor of the Department of economics and management of the Lviv State University of Physical Culture named after Ivan Bobersky

Contacts: -korkuna@lbi.wubn.net

Webpages:

Tsilnyk Oleh Yaroslavovych

Director of PE "Ukrzahidpostach" in Lviv, Ukraine

Contacts: oleg.c28@gmail.com

Webpages:

Resume

Development of tourism and hotel economy in Ukraine and efficient activity of enterprises in the domain substantially depend on the investment capacity of the whole country that is formed by various financial sources, including the attracted investment. Investment resources are one of the main components of resources maintenance of these economic sectors, yet it is worth mentioning that the investors in any crisis face the risks of investing in the business. Therefore, investment activity risks in tourism and hotel-restaurant business are very relevant today. The paper aims to research the investment activity in tourism and the hotel-restaurant business and to determine the main dangers and risks. The paper researches the investment activity in tourism and hotel-restaurant business. The existing range of intersectoral links in tourism and hotel-restaurant business is characterized. The advantages of investment activity in the domain both for the country’s economy and for the investor are outlined. The process of investment activity planning to provide the enterprise with the necessary investment resources to improve the efficiency of its investment activity in the future is explained. The complex analysis of investment risks is conducted. The investment activity risks in tourism and hotel-restaurant business are classified. The impact of investment risks on the development of tourism and hotel-restaurant business is determined. The paper emphasizes that high risks of investing that can lead to failing to receive the planned income or loss of invested funds are among the essential risks that restrain the growth of external funding sources of the investment activity.

Keywords:

investment, risk, tourism, hotel-restaurant business, entrepreneurship

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