Determinants of the development strategy of tourism enterprises: risk management

Nataliia Bogdan, Larysa Оbolentseva, Dmytro Sokolov, Iuliya Krasnokutska


Introduction. The tourism industry is one of the industries that contributes to the development of the national economy, however, to improve the efficiency of its functioning, systematic research is needed to find ways to manage its development with a view to crisis conditions. The analysis of the situation in the field of development of the tourism industry allows us to come to the conclusion that the most acute problem that the managers of tourism industry enterprises most often face are the threats of the internal environment and the uncertainty and variability of the external environment, especially in the conditions of crisis phenomena. Both the level of prosperity of enterprises and the development of tourism in the country as a whole depend on solving this problem.

Despite a significant number of publications devoted to the issue of risks, the peculiarities of their management in the tourism industry, where the level of risks is high and the level of their management is not effective enough, have not received adequate coverage in the literature.

The purpose of the article is to study the peculiarities of risk management as an integral element of the development strategy of tourism industry enterprises and to develop recommendations for the implementation of effective risk management tools in their activities.

The research method (methodology) includes a number of general scientific research methods, namely: the method of theoretical generalization, the abstract-logical method, and the grouping method; the expert method and the integral calculation method were used in the implementation of empirical research.

The results. As a result of the conducted research, elements of scientific novelty were obtained, which are as follows: in order to ensure the effective implementation of risk management methods, recommendations were developed regarding a complex of interrelated actions with the aim of forming an effective risk management system; systematization of the risk management toolkit of tourism enterprises in accordance with internal risk factors and structured them with an overview of the hotel business in crisis conditions, which forms the basis for the development of an anti-risk program for hotel enterprises.

Given the relevance and complexity of the problem, further in-depth research is needed to find means of early prediction and prevention of risks in order to minimize their negative impact on the financial results and market position of tourism industry enterprises. It is the reduction of the threat of risks to the operation of the enterprise that will contribute to the sustainability of the development of the tourism industry in general.


tourism industry; risk; risk management; expert method; means of minimizing risks; risk management tools

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Copyright (c) 2023 Nataliia Bogdan, Larysa Оbolentseva, Dmytro Sokolov, Iuliya Krasnokutska

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Science Works Journal "Ekonomichnyy analiz"

ISSN 1993-0259 (Print)  ISSN 2219-4649 (Online) DOI: 10.35774/econa

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