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4th International Thematic Monograph - Modern Management Tools and Economy of Tourism Sector in Present Era

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EU MEMBERS MULTI-CRITERIA RANKING ACCORDING TO SELECTED TRAVEL INDUSTRY INDICATORS

Ivana Marjanović
Faculty of Economics, University of Niš, Trg kralja Aleksandra Ujedinitelja 11, Niš, Serbia

Žarko Rađenović
Innovation Centre of the University of Niš, Vojvode Tankosića 14/8, 18000 Niš, Serbia

Milan Marković
Innovation Centre of the University of Niš, Univerzitetski trg 2, Niš, Serbia

DOI:   ​​https://doi.org/10.31410/tmt.2019.639
​
4th International Thematic Monograph -   Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade, 2019,   Published by:  Association of Economists and Managers of the Balkans in cooperation with the Faculty of Tourism and Hospitality, Ohrid, North Macedonia;   ISSN 2683-5673,  ISBN 978-86-80194-29-5;   Editors:   Vuk Bevanda, associate professor, Faculty of Social Sciences, Belgrade, Serbia;   Snežana Štetić, full time professor, The College of Tourism, Belgrade, Serbia,   Printed by:  SKRIPTA International, Belgrade

Abstract: As a multidimensional phenomenon that contributes to the economic growth and development
of the country, tourism is an important sector for every national economy. Countries with developed
tourism sector acquire more benefits than the countries with poorly developed or underdeveloped
tourism. For assessment of the tourism development, multi-criteria decision-making techniques can be
applied. In this paper, the tourism development of European Union (EU) Member States was analyzed
based on selected travel and tourism industry indicators using Multi-Objective Optimization by Ratio
Analysis (MOORA) and a new Additive Ratio Assessment (ARAS). The results indicate that Western and
Southern European countries have the most developed tourism sector. Results also enable EU Member
States to assess their relative position which might be of use to their policy makers.

Keywords: ENTROPY, Tourism Development Evaluation, MOORA, ARAS.

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