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Financing of Rural Tourism in Romania, Serbia and Montenegro in the Period of Integration into the European Union

Author

Listed:
  • Radović Gordana

    (Institute of Agricultural Economics, Belgrade, Serbia)

  • Vuković Predrag

    (Institute of Agricultural Economics, Belgrade, Serbia)

  • Drăcea Raluca Mihaela

    (Bucharest University of Economic Studies, Romania)

  • Zejak Dejan

    (Biotechnical Center, Bijelo Polje, Montenegro)

Abstract

Rural tourism, viewed from the aspect of agricultural farms, provides additional income, enables the creation of new jobs, but also provides a market for the placement of agricultural products. Adequate sources of financing are needed, which would enable the development of this activity, significant for agricultural farms, the local rural economy, but also for the entire country. In the section dedicated to relevant sources from the literature, the views of the cited authors point to the conclusion that the growth of rural tourism requires a strategy, which should be interdisciplinary, as well as adequate means of financing. The purpose of the paper is to present the sources of financing rural tourism in the period of integration into the European Union (pre-accession period) in Romania, Serbia and Montenegro. The pre-accession period for EU membership is still ongoing in Serbia and Montenegro, so the final effects of these funds will only be seen in the future. To answer the research question formulated: "How do the sources and methods of financing rural tourism vary in Romania, Serbia, and Montenegro during the period of integration into the European Union, and what is the impact of these differences on the development and sustainability of rural tourism in each country?", the authors use descriptive and desk research method, like us, methods of analysis and synthesis. The authors suggest that Romania has effectively utilized EU pre-accession financial tools to foster growth in this sector, indicating that its approach could serve as a model for Serbia and Montenegro.

Suggested Citation

  • Radović Gordana & Vuković Predrag & Drăcea Raluca Mihaela & Zejak Dejan, 2024. "Financing of Rural Tourism in Romania, Serbia and Montenegro in the Period of Integration into the European Union," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 18(1), pages 2664-2684.
    • Handle: RePEc:vrs:poicbe:v:18:y:2024:i:1:p:2664-2684:n:1039
    DOI: 10.2478/picbe-2024-0223
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    References listed on IDEAS

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    1. Bernard Lane & Elisabeth Kastenholz & Maria João Carneiro, 2022. "Rural Tourism and Sustainability: A Special Issue, Review and Update for the Opening Years of the Twenty-First Century," Sustainability, MDPI, vol. 14(10), pages 1-15, May.
    2. Daniel BADULESCU & Adriana GIURGIU & Nicolae ISTUDOR & Alina BADULESCU, 2015. "Rural tourism development and financing in Romania: A supply-side analysis," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 61(2), pages 72-82.
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