Opportunities and Challenges for Tourism Enterprises in Relation to Tourist Spending
Opportunities and Challenges for Tourism Enterprises in Relation to Tourist Spending

Author(s): Elena Petkova
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Tourism enterprise; Tourism expenditure; Marketing; Bulgaria
Summary/Abstract: The focus of the study is on tourism expenditure. The distribution and spending of funds by tourists are studied with a view to making appropriate decisions in general and financial management, and especially in the marketing management of tourism enterprises, more specifically in segmenting the market and choosing suitable target segments of tourists, developing relevant products and pricing strategies and selection of proper communication and sales channels. The article presents some models and trends of variation in the amount of funds spent by tourists, both from some world markets in general and in Bulgaria in particular in recent years. Some reasons for these changes are given, and challenges and opportunities facing tourism business managers are outlined. The level of tourism expenditure changes over time and depends on the nationality of the tourists, the type of tourist trip, and the tourist services used. The results of the current research reveal a significant drop in tourism spending due to the crisis in 2020 and rapid growth in the following years. Managers of tourism enterprises should consider these trends, especially when choosing tourist target markets, to realize positive financial results for the tourism enterprise.

• Details
• Contents