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


Abstract​

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.


References

  1. Alivernini, A., Breda, E. (2010), Il turismo in Italia ai tempi della crisi, La rivista del turismo, 12 (2), pp. 4 – 13.
  2. Alivernini, A., Breda, E., Iannario, E. (2013), Quindici anni di turismo internazionale dell’Italia (1997-2011), in Banca d’Italia, Il turismo internazionale in Italia: dati e risultati. Seminari e convegni, Roma.
  3. Banca d’Italia, Il turismo internazionale in Italia: dati e risultati. Seminari e convegni, Roma, 2013.
  4. Biggs, D., Hicks, C.C., Cinner, J.E., Hall, C.M. (2015), Marine tourism in the face of global change: The resilience of enterprises to crises in Thailand and Australia, Ocean and Coastal Management, 105, pp. 65-74.
  5. Cohen, E., (2010), Tourism crises: A comparative perspective, International Journal of Tourism Policy, 3 (4), pp. 281-296.
  6. de Sausmarez, N. (2007), Crisis management, tourism and sustainability: The role of indicators. Journal of Sustainable Tourism, 15 (6), pp. 700-714.
  7. Decaro, C., Piccirilli, G. (2017), Istituzioni e politiche del turismo, Luiss University Press, Roma.
  8. Gioia, C. (2005), La crisi riconvertita in turismo, Rivista del volontariato, (5/6), p. 43.
  9. Iovino, F., (2012), Le scelte delle politiche di marketing delle imprese energetiche, Management delle utilities, No. 4, 23-35.
  10. Iovino, F., (2014), L’internet marketing nelle imprese energetiche: il caso di un’impresa elettrica romana, Mercati e competitività, 3, 141-161.
  11. Iovino, F., (2015), Relationship marketing by Energy companies, Review of International comparative management, No. 5, 558-573.
  12. Iovino F., Migliaccio G., (2016), E-marketing by energy companies, 9th Annual Conference of the Euromed Academy of Business, “Innovation, Entrepreneurship and Digital Ecosystems”, 14-16 September 2016, Warsaw, Poland, Book of Conference Proceedings, Euromed Press, 1036-1048.
  13. Migliaccio, G. and Iovino F., (2018), Reshaping the energy markets: the Italian case, International Journal of Business and Social Science, Vol. 9, n. 2, pp.  61 –   70.
  14. Migliaccio, G. (2013), Squilibri e crisi nelle determinazioni quantitative d’azienda. Il contributo della dottrina italiana,  FrancoAngeli, Milano.
  15. Istituto nazionale ricerche turistiche-Unioncamere (2012), I consumi turistici in Italia, Roma, from the site file:///C:/Users/utente/Downloads/I_consumi_turistici_in_Italia%20(1).pdf (5 aprile 2018).
  16. Martini, U., Ejarque, J. (2009), Le tre crisi del turismo, La rivista del turismo, 11 (2) pp. 18 – 20.
  17. Massari, F. (a cura di) (2011), Bilanci ed applicazioni contabili nelle imprese turistiche, Cacucci, Bari, 2011.
  18. Melotti, M. (2013), Oltre la crisi. Il turismo culturale tra riscoperta delle radici e lentezza rappresentata, Critica sociologica, (185), pp. 51 – 66.
  19. Michael Hall, C. (2010), Crisis events in tourism: Subjects of crisis in tourism, Current Issues in Tourism, 13 (5), pp. 401-417.
  20. Papatheodorou, A., Rosselló, J., Xiao, H. (2010), Global economic crisis and tourism: Consequences and perspectives, Journal of Travel Research, 49 (1), pp. 39-45.
  21. Pasquini, E. (2009), Cultura e turismo, la sfida alla crisi, Guida agli enti locali. Il sole 24 ore, 13 (21), pp. 3 – 6.
  22. Prayag, G. (2018), Symbiotic relationship or not? Understanding resilience and crisis management in tourism, Tourism Management Perspectives, 25, pp. 133-135.
  23. Rapisarda Sassoon, C. (2006), Turismo italiano oltre la crisi, Sviluppo e organizzazione, (213) pp. 54 – 57.
  24. Romão, J., Guerreiro, J., Rodrigues, P.M.M. (2016), Tourism growth and regional resilience: The ‘beach disease’ and the consequences of the global crisis of 2007, Tourism Economics, 22 (4), pp. 699-714.
  25. Sheldon, P., Dwyer, L. (2010), The global financial crisis and tourism: Perspectives of the academy. Journal of Travel Research, 49 (1), pp. 3-4.
  26. Smeral, E. (2009), The impact of the financial and economic crisis on European tourism, Journal of Travel Research, 48 (1), pp. 3-13.
  27. Smeral, E. (2010), Impacts of the world recession and economic crisis on tourism: Forecasts and potential risks, Journal of Travel Research, 49 (1), pp. 31-38.
  28. Tsao, C.-Y., Ni, C.-C. (2016), Vulnerability, resilience, and the adaptive cycle in a crisis-prone tourism community, Tourism Geographies, 18 (1), pp. 80-105. 

Share this

Association of Economists and Managers of the Balkans – UdEkoM Balkan
179 Ustanicka St, 11000 Belgrade, Serbia

https://www.udekom.org.rs/home

Udekom Balkans is a dynamic non-governmental and non-profit organization, established in 2014 with a mission to foster the growth of scientific knowledge within the Balkan region and beyond. Our primary objectives include advancing the fields of management and economics, as well as providing educational resources to our members and the wider public.

Who We Are: Our members include esteemed university professors from various scientific disciplines, postgraduate students, and experts from ministries, public administrations, private and public enterprises, multinational corporations, associations, and similar organizations.

Building Bridges Together: Over the course of nine years since our establishment, the Association of Economists and Managers of the Balkans has established impactful partnerships with more than 1,000 diverse institutions across the Balkan region and worldwide.

EMAN conference publications are licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.