Crisis and Recovery of Business Entities in Tourism in the Post Pandemic Period in Slovakia

Abstract

The aim of the paper is to examine the issue of market recovery and business entities in the pandemic and post-pandemic period. Overall it points out the possibilities of the solution on the basis of interviews and utilizing the models of simulation of the results of companies that have been affected by the crisis. The paper used statistical data obtained by research in the analysed period March - April 2020 and in the examined years 2019 to 2023, including prognostic data from the sources of the Ministry of Finance of the Slovak Republic. Based on the results of selected companies with and without pandemic measures were simulated. Resulting from the research findings, proposed model presents the state of the company affected by the crisis and ways of solving how to get out of this crisis and design further development in the post-pandemic period. The paper pointed out the need to increase expertise in decision-making on the development of the economy of business entities and subsequently the development of the industry with targeted support from the state based on research base in combination with future modelling methods.

Tourism Indicators and Their Differentiated Impact on Sustainable Tourism Development

“…It is one of the possibilities to contribute to the development of the region and strengthen the position of Prešov self-governing region. The benefits of tourism are manifested in macroeconomic relations, in the economy of many industries connected to it, as well as in the creation of new jobs, especially in regions with high unemployment (Gallo et al, 2019).…”

A Literature Review on the Financial Determinants of Hotel Default

“…As another aim is to keep works that provide clear-cut hotel results, studies using broader tourism or hospitality firm samples inseparably and in an indistinguishable manner are not included (Abidin et al 2020(Abidin et al , 2021Barreda et al 2017;Laguillo et al 2019;Li et al 2017Li et al , 2019Park and Hancer 2012;Pisula 2020). Another sub-filter regarding study relevance is the exclusion of ex ante bankruptcy risk assessments that do not deal with actual bankruptcies or a measure of financial distress, where the aim is to project a future potential credit profile for hotels (Gallo et al 2018;Matejić et al 2022;Špiler et al 2022;Vivel-Búa et al 2018). Studies dealing explicitly with the going concern issue (Fernández et al 2018;Zhai et al 2015) and a recent study where the only financial metric, the initial injected capital, which can be considered a balance sheet item, was not promoted in the final model (Yuan et al 2023), are excluded too.…”

Aspects of Tourism Performance in V4 Countries Under the Influence of the Covid 19 Pandemic for Future Management and Quality

“…Another study highlights the importance of investments in infrastructure, education, and innovation as key factors for economic growth in the V4 countries (Mátyás et al, 2020;Mura and Stehlikova, 2023). These studies indicate that successful economic development requires a comprehensive approach that includes not only internal reforms but also cooperation and integration at the regional and international levels (Gallo et al, 2019;Volchek et al, 2020). In this context, tourism becomes an important tool for economic development (Bazargani and Kiliç 2021) and is supported not only by the private sector but increasingly also by government initiatives and policies (Kozmenko et al, 2015).…”