Felicetta Iovino, Guido Migliaccio
Department of Law, Economics, Management and Quantitative Methods, University of Sannio, Benevento, Italy​
​​​​​​​DOI: https://doi.org/10.31410/EMAN.2018.693
2nd International Scientific Conference – EMAN 2018 – Economics and Management: How to Cope With Disrupted Times, Ljubljana – Slovenia, March 22, 2018, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; Faculty of Management Koper, Slovenia; Doba Business School – Maribor, Slovenia; Integrated Business Faculty –  Skopje, Macedonia; Faculty of Management – Zajecar, Serbia, ISBN 978-86-80194-11-0


The global financial crisis has affected all countries during the period 2008-2014. Tourist companies, especially in Italy, play a significant role in the economy of a country. The performance of tourism companies, and in particular travel agencies and tour operators, will be analysed in this paper, relative to the period of the crisis.
The aim of this paper is to analyse financial dynamics of the aforementioned tourist companies, to check whether they have suffered the effects of the global crisis.        
To this end, data from the AIDA database relating to Italian companies in the sector were used. The financial dynamic of these companies has been analysed using the quick ratio and debt ratio. An analysis of the trends of these indices was carried out for the period 2007-2015. In this way, it has been verified whether the global crisis has affected financial dynamics of travel agencies and tour operators in Italy.

Key words

Tourism, Crisis, Financial ratios, Quick ratio, Debt ratio, Equity ratio.


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