SELECTED ASPECTS OF FINANCING REGIONAL DEVELOPMENT IN TERMS OF SELF-GOVERNMENT
SELECTED ASPECTS OF FINANCING REGIONAL DEVELOPMENT IN TERMS OF SELF-GOVERNMENT

Summary/Abstract: Development of the region, and as well the quality of life of people living within its territory, is also determined by the utilization of regional funds. The development of tourism is one of the indicators proving the good condition of the region. Tourists and visitors bring to the region additional resources that improve the business environment, competitiveness, quality of services, infrastructure and thereby help to increase the socio-economic indicators of regional development. Effective utilization of funds in marketing and promotion can easily attract new visitors to a region, who may eventually become its new permanent residents. The goal of this paper is to analyze the budgets of higher territorial units of the Slovak Republic and monitor the development of funds used for regional marketing and tourism. The paper reveals the correlation between the amount of money spent on marketing to the number of visitors in the various regions and determines the optimal number of funds that the region should spend on the marketing and tourism.

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