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The Economic Role of Tourism in European Countries’ Sustainable Development

Author

Listed:
  • Pasieka Stanislava

    (Prof., Bohdan Khmelnytsky National University of Cherkasy, 81 Shevchenko Boulevard, Ukraine)

  • Kirdan Oleksandr

    (Assoc., Prof., Pavlo Tychyna Uman State Pedagogical University, 2 Sadova Street, Uman, Cherkasy Region, Ukraine)

  • Braslavska Oksana

    (Prof., Pavlo Tychyna Uman State Pedagogical University, 2 Sadova Street, Uman, Ukraine)

  • Kosmidailo Inna

    (Assoc., Prof., Private Higher Educational Institution “European University”, Uman Branch, 15A Shevchenko Street, Uman)

  • Oliinyk Olga

    (Assoc., Prof., Kamianets-Podilskyi Ivan Ohiienko National University, 61 Ohiienko Street, Kamianets-Podilskyi, Ukraine)

  • Povorozniuk Inna

    (Assoc., Prof., Pavlo Tychyna Uman State Pedagogical University, 2 Sadova Street, Uman, Ukraine)

  • Drobotova Maryna

    (Assoc., Prof., Bohdan Khmelnytsky National University of Cherkasy, 81 Shevchenko Boulevard, Ukraine)

Abstract

With the coronacrisis caused by the COVID–19 pandemic, the tourism industry in Europe suffered the most in 2020, experiencing huge losses, lay-offs of workers, mass bankruptcies of firms, etc. Undoubtedly, the tourism economy contributes to the sustainable development of European countries, but how? The answer to this question is contained in the proposed study. Algorithm method, correlation and regression analysis, and non-linear programming were used to address the economic contribution of tourism to sustainable development. The modelling of the multiple power regression equation was based on freely available official statistical data from 40 European countries for the year 2020. A multiple power regression equation modelling algorithm for the impact of tourism on the sustainable development of European countries has been proposed and validated. The challenge of maximising the Sustainable Development Goals Index is set and solved. It is justified that in order to increase the average European level of sustainable development by 1 % in the post-pandemic period, the average annual number of tourists per European country should be increased by 14 %, the tourist attractiveness of destinations should be increased to increase revenues per tourist by 17 %, and the sectoral structure of the European economy should be optimised so as to reduce dependence on tourist revenues by 0.4 percentage points.

Suggested Citation

  • Pasieka Stanislava & Kirdan Oleksandr & Braslavska Oksana & Kosmidailo Inna & Oliinyk Olga & Povorozniuk Inna & Drobotova Maryna, 2022. "The Economic Role of Tourism in European Countries’ Sustainable Development," Management Theory and Studies for Rural Business and Infrastructure Development, Sciendo, vol. 44(3), pages 323-337, September.
    • Handle: RePEc:vrs:mtrbid:v:44:y:2022:i:3:p:323-337:n:8
    DOI: 10.15544/mts.2022.33
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    References listed on IDEAS

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    1. Anca Băndoi & Elena Jianu & Maria Enescu & Gheorghe Axinte & Sorin Tudor & Daniela Firoiu, 2020. "The Relationship between Development of Tourism, Quality of Life and Sustainable Performance in EU Countries," Sustainability, MDPI, vol. 12(4), pages 1-24, February.
    2. José-Luis Alfaro Navarro & María-Encarnación Andrés Martínez & Juan-Antonio Mondéjar Jiménez, 2020. "An approach to measuring sustainable tourism at the local level in Europe," Current Issues in Tourism, Taylor & Francis Journals, vol. 23(4), pages 423-437, February.
    3. Wanjun Xia & Buhari Doğan & Umer Shahzad & Festus Fatai Adedoyin & Abiodun Popoola & Muhammad Adnan Bashir, 2022. "An empirical investigation of tourism-led growth hypothesis in the European countries: evidence from augmented mean group estimator," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 21(2), pages 239-266, May.
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    More about this item

    Keywords

    algorithm; GDP; goals; modelling; multiple power regression; tourist;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

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