УЛОГАТА И ЗНАЧЕЊЕТО НА ИНВЕСТИЦИИТЕ КАКО ФАКТОР ЗА РАЗВОЈ НА ТУРИСТИЧКИОТ БИЗНИС
THE ROLE AND KNOWLEDGE OF INVESTMENTS AS A FACTOR FOR THE DEVELOPMENT OF TOURIST BUSINESS

Summary/Abstract: Tourism and hospitality are very important sectors in the country and have huge growth potential. Their development strengthens the economy, strengthens regional growth, reviving natural and cultural heritage, increasing international recognition of countries, attracting foreign investment, strengthens tourism revenues and creates hundreds work places. In this paper, the subject of analysis is the importance and role of investment activity in the tourism and catering sector. Investments in the public and private sectors are vital for the tourism and catering sector, which together with other sectors participate in the creation of general economic growth and development. Despite the fact that the private sector primarily maintains tourism activity, the role of government is crucial in the development of the tourism business. Governments, especially in emerging economies, encourage tourism investment by assuming that they contribute significantly to their economic development, as tourism has higher impacts and multipliers than other sectors of the economy. Numerous factors, such as attractive landscapes and archeological sites, attract people to different destinations and serve as a necessary condition for the development of tourism, for which the investment in the tourism sector is a sufficient condition. Despite the fact that tourism is a sector with significant potential for income generation and employment, and public and private sector investment is necessary to promote and nurture this sector to reap its benefits, this particular topic received less attention in the existing literature. The relationship between sector and economic growth has long been a matter of interest to the research community, and a significant amount of literature can be found in this area, but the literature on investment and tourism growth is sufficient. Various empirical approaches and methodologies used in the literature have so far not given a holistic and final concept. Therefore, this study aims to review the existing literature on public and private investment and tourism. In this paper we will point out the importance of capital investments in tourism and food service companies. In addition, investments are being made in the fixed capital investments of accommodation and food service companies in Macedonia. Finally, the situation and trends of bank loans given to companies for accommodation and food services were analyzed. An attempt is being made to make proposals for improving the conditions for investment and commercial loans in tourism and catering activities. They are a potential opportunity for capital and technological improvement of the business operations of the companies, their growth, development, employment and productivity and indirect GDP growth of the Republic of North Macedonia

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