ECONOMIC ANALYSIS OF INTERNATIONAL TRADE IN PERSONAL AND BUSINESS TRAVEL SERVICES

  • Svetlana Ignjatijević Faculty of Economics and Engineering, Management, Novi Sad, Serbia
  • Jelena Vapa Tankosić Faculty of Economics and Engineering, Management, Novi Sad, Serbia
Keywords: tourist services, international trade, personal travel, business travel, Serbia

Abstract

The world today is facing one of the worst pandemics in modern history. Around the world, financial markets are in serious difficulties, the consequences of which have begun to spill over into the tourism sector. Covid-19 has caused sharp contractions in economic development, reduced mobility and has contacted tourism flows as the international tourist arrivals in most world sub-regions recorded declines from -60% to -70%. The aim of this paper is to analyze the international travel in the field of personal and business travel in the period of 2010-2019 exported to and imported from the Republic of Serbia. The findings show that the international travel for personal purposes has achieved the greatest value over the years, the second place is taken by travel for business purposes, whereas education-related travel achieved the third place. Exported and imported values of the category Travel, Personal and Travel, Business has the highest value of exports and imports from Serbia to European Union (EU 28), with Germany, Greece, Austria and Italy having the highest flows of exported and imported values. In 2020 Asia and the Pacific, was the region to suffer the hardest impact of Covid-19. On the second place there is Europe, followed by the Americas, Africa and the Middle East.

Downloads

Download data is not yet available.

References

Cvijanović D., Ignjatijević, S., Milojević, I., Mihailović, B. (2016). Potencijali Srbije u međunarodnim okvirima, Značaj poljoprivrede i zdravstvenog turizma [Potentials of Serbia in the international framework, The importance of agriculture and health tourism], University of Kragujevac, Faculty of Hotel Management and Tourism in Vrnjačka Banja.

European Central Bank (2020). ECB staff macroeconomic projections for the euro area, https://www.ecb.europa.eu/pub/projections/html/ecb.projections202009_ecbstaff~0940bca288.en.html#toc1 (20 February 2021)

Ignjatijević S, Čavlin M, Vapa Tankosić J. (2017). Međunarodna pozicija Srbije kao odredišta za medicinski turizam [=The international position of Serbia as a destination for medical tourism]. Vojno delo, Vol. 69, No. 8, 369–378.

Ignjatijević, S., Vapa-Tankosić, J. (2018). Influence of socio demographic characteristics of consumers of medical tourism services in Serbia. Tourism International Scientific Conference Vrnjačka Banja - TISC, Vol. 3, No. 1, 582-602.

Ignjatijević S., Vapa-Tankosić J. (2019) Economic analysis of factors affecting the demand for destination development. Tourism International Scientific Conference Vrnjačka Banja - TISC, Vol. 4, No. 2, 621-637.

Ignjatijević S., Vapa-Tankosić J. (2020). Economic impact of medical tourism and health services trade. Tourism International Scientific Conference Vrnjačka Banja - TISC, Vol. 5, No. 1, 181-197.

ITC, https://www.intracen.org/itc/market-info-tools/trade-statistics/ (02 February 2021)

Koprivica, M. (2007). World of Services, Union of Southeast European Faculties, Novi Sad.

Radić, N., Radić, V., Stevanović, M. (2020). Ekonomski uticaj pandemije korona virusa na automobilsku industriju [Economic impact of the corona virus pandemic on the automotive industry]. Oditor, Vol. 6, No. 3, 55-88.

The Goverment of the Republic of Serbia, https://www.srbija.gov.rs/vest/503390/podrska-vlade-radu-ugostiteljske-i-turisticke-privrede.php (26. February 2021)

UN, (2020). Policy Brief: COVID-19 and Transforming Tourism. https://webunwto.s3.eu-west-1.amazonaws.com/s3fs-public/2020-08/SGPolicy-Brief-on-COVID-and-Tourism.pdf (20. February 2021)

UNWTO (2020a). World Tourism Barometer, Vol. 18, No. 5, 1-36. https://www.e-unwto.org/doi/epdf/10.18111/wtobarometereng.2020.18.1.5 (20. February 2021)

UNWTO (2020b). World Tourism Barometer, Vol. 18 No. 6, 1-36. https://www.e-unwto.org/doi/suppl/10.18111/wtobarometereng.2020.18.1.2 (28. February 2021)

UNWTO (2020c). World Tourism Barometer, Vol. 18 No. 3, 1-32. https://www.e-unwto.org/doi/suppl/10.18111/wtobarometereng.2020.18.1.2 (28. February 2021)

Vapa-Tankosić J., Ignjatijević S. (2017). Exploratory research on determinants of on line information providers of medical tourism. Tourism International Scientific Conference Vrnjačka Banja - TISC, Vol. 2, No. 1, 545-567.

Vapa Tankosić, J., Čavlin, M., Buđevac, Đ. (2020). Analiza mera centralnih banaka za ublažavanje monetarnih i finansijskih rizika izazvanih Kovid-19 [Analysis of measures of central banks for mitigation of monetary and financial risks caused by Covid-19], Proceedings of the VII International Scientific Conference "Tranzicija u 21. veku" [="Transition in the 21st Century"], 05.-07th November 2020. Kragujevac, 134-146.

Published
2021-06-03
How to Cite
Ignjatijević, S., & Vapa Tankosić, J. (2021). ECONOMIC ANALYSIS OF INTERNATIONAL TRADE IN PERSONAL AND BUSINESS TRAVEL SERVICES. Tourism International Scientific Conference Vrnjačka Banja - TISC, 6(1), 517-534. https://doi.org/10.52370/TISC21517SI