Tourism Sector in the Crisis: An Evidence of Slovak Travel Agency Satur and Tourism Industry Practitioners from New York
Yuanxin Li - Faculty of Management, Comenius University in Bratislava, Odbojárov 10, Bratislava, Slovakia
Darina Saxunová - Faculty of Management, Comenius University in Bratislava, Odbojárov 10, Bratislava, Slovakia
DOI: https://doi.org/10.31410/tmt.2021-2022.205
Yuanxin Li - Faculty of Management, Comenius University in Bratislava, Odbojárov 10, Bratislava, Slovakia
Darina Saxunová - Faculty of Management, Comenius University in Bratislava, Odbojárov 10, Bratislava, Slovakia
DOI: https://doi.org/10.31410/tmt.2021-2022.205
6th International Thematic Monograph - Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade, 2021/2022, 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 978-86-80194-49-3; 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: The tourism industry together with related industries have been attracting researchers’ focus since the outbreak of the COVID-19 crisis due to the immense pandemic impact on this sector. The objective of this chapter is to analyze the overall influence of the pandemic and post-pandemic period on the global tourism sector and the related industries in Slovakia. The authors have selected the example of a Slovak travel agency and investigated its financial performance during the time of the Covid-19 crisis, which experiences an extreme decline in total revenues. Besides, the authors consider an empirical example from a tourism practitioner in New York, who behaves actively and experiences a successful exchange against the shock of the crisis. The favorable news of recovery slowly appearing was the inspiration for the scientific paper which in the end makes suggestions and formulates potential expectations of the future sustainable development of the tourism industry.
Keywords: Tourism business; COVID-19; Slovakia; Revenue decline; Tourism recovery; Flexible measurements against crisis; Satur;
New York
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intechopen.101057
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files/imce/threats_to_sustainability.pdf
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Keywords: Tourism business; COVID-19; Slovakia; Revenue decline; Tourism recovery; Flexible measurements against crisis; Satur;
New York
REFERENCES
Arbulú, I., Razumova, M., Rey-Maquieira, J., & Sastre, F. (2021). Can domestic tourism relieve
the COVID-19 tourist industry crisis? The case of Spain. Journal of Destination Marketing
& Management, 20, 100568. https://doi.org/10.1016/j.jdmm.2021.100568
Bofinger, P., Dullien, S., Felbermayr, G., Fuest, C., Hüther, M., Südekum, J., & di Mauro, B. W.
(2020). 18 Economic implications of the COVID-19 crisis for Germany and economic policy
measures. Mitigating the COVID Economic Crisis: Act Fast and Do Whatever, 167.
Brundtland, G. H. The Brundtland Report, a 25-year-old milestone. (2012). Accessed November
4, 2019. http://downtoearth.danone.com/2012/04/04/the-brundtland-report-a-25-yearold
milestone/.
Camacho, L.J., Ramírez-Correa, P., & Salazar-Concha, C. (2022). Xenocentrism and Formal
Education: Evaluating Its Impact on the Behavior of Chilean Consumers. Journal of Risk
and Financial Management 15: 166. https://doi.org/10.3390/jrfm 15040166
Chalupa, S., Chadt, K., & Jenckova, J. (2021). Impact of National Measures Connected to
COVID-19 Pandemic on the Hotel Front-Office Communication Themes. IBIMA Business
Review, Vol. 2021 (2021), Article ID 823718, DOI: 10.5171/2021.823718
Choucri, Nazli. The Political Logic of Sustainability. MOST Program. Paris: UNESCO. (1997).
Dash, Tapas. R., Satyendra Singh, and Irina Vashko. “Tourism, eco-tourism and sports tourism:
the framework for certification.” Marketing Intelligence & Planning, 34(2), (2016). 1-22.
Dias, A., Patuleia, M., Silva, R., Estêvão, J. & González-Rodríguez., M.R. (2021) Post-pandemic
recovery strategies: revitalizing lifestyle entrepreneurship, Journal of Policy Research in
Tourism, Leisure and Events, DOI: 10.1080/19407963.2021.1892124
Dujava, D., Hojdan, D., & Žúdel, B. (2021). Tretia vlna spomalíoživenie ekonomiky: Makroekonomická
prognóza na roky 2021 – 2024. Inštitút finančnej politiky, Ministerstvo financií
SR.
Fletcher, John, Alan Fyall, David Gilbert, and Stephen Wanhill. Tourism: Principles and Practice.
Harlow, United Kingdom: Pearson Education Limited, 2013.
Gössling, S., Scott, D., & Hall, C. M. (2021). Pandemics, tourism and global change: A rapid
assessment of COVID-19. Journal of Sustainable Tourism, 29(1), 1–20. https://doi.org/10.1
080/09669582.2020.1758708
Haaland, Hanne, and Øystein Aas. (2010). EcoTourism Certification – Does It Make a Difference?
A Comparison of Systems from Australia, Costa Rica and Sweden. Scandinavian
Journal of Hospitality and Tourism 10, no. 3 (2010): 375–85. https://doi.org/10.1080/15022
250.2010.486262.
Holling, C. S. (1973) Resilience and stability of ecological systems. Annual Review of Ecology
and Systematics, 4: 1–23.
Martin, R., Sunley, P. (2015). On the notion of regional economic resilience: Conceptualization
and explanation. Journal of Economic Geography, 15 (1) (2015), pp. 1-42. doi:10.1093/jeg/
lbu015
McCartney, G., Pinto, J., & Liu, M. (2021). City resilience and recovery from Covid-19: The
case of Macao. Cities, 112, 103130. https://doi.org/10.1016/j.cities.2021.103130
Ministerstvo dopravy a výstavby SR, Ministerstvo hospodárstva SR. Schéma štátnej pomoci v
zmysle článku 107, odsek 3, písm. b ZFEÚ v zneni ́ Dodatkov č. 1 a č. 2UNWTO. Issue
5, August/September 2020. World tourism barometer, volume 18 (2020). From https://
www.e-unwto.org/doi/epdf/10.18111/wtobarometereng.2020.18.1.5.
Muruga, K. (2022). Effect of COVID-19 Pandemic on Health Systems. IBIMA Business Review,
Vol. 2022, Article ID 799143, DOI: 10.5171/2022.799143.
Paudyal, V., Sun, S., Hussain, R., Abutaleb, M. H., & Hedima, E. W. (2021). Complementary
and alternative medicines use in COVID-19: A global perspective on practice, policy
and research. Research in Social and Administrative Pharmacy. https://doi.org/10.1016/j.
sapharm.2021.05.004
Saxunová, D., & LeRoux, C. L. (2019). Tourism industry in rural and urban areas: Slovakia and
United Arab Emirates examples. In: Proceedings of International Scientific conference
MIC 2019. Opatija, Croatia, https://doi.org/10.26493/978-961-6832-68-7.15
Saxunova, D., & Roux, C. L. L. (2021). Digital Transformation of World Finance. In R. G.
Ahangar, & A. Salman (Eds.), Investment Strategies in Emerging New Trends in Finance.
IntechOpen. https://doi.org/10.5772/intechopen.93987
Saxunova, D., Hector, H., Kajanova, J., & Slivka, P. (2021). Integrity of the Corporate Social
Responsibility and Management of Financial Services in the Digital Era. In (Beatrice
Orlando, Ed.), Corporate Social Responsibility. IntechOpen. https://doi.org/10.5772/
intechopen.101057
Suhud, U., Utami, H., & Candra, E.P. (2021). A Study of Tourists’ Satisfaction in The Context
of Textile-Based Tourism Destination. IBIMA Business Review, Vol. 2021 (2021), Article
ID 568693, DOI: 10.5171/2021.568693
Turner, B. L., Kasperson, R. E., Matsone, P. A., McCarthy, J. J., Corell, R. W., Christensene, L.,
Eckley, N., Kasperson, J. X., Luers, A., Martello, M. L., Polsky, C., Pulsipher, A., & Schiller,
A. (2003). A framework for vulnerability analysis in sustainability science. Proceedings
of the National Academy of Sciences of the United States of America, 100(14), 8074–
8079. Scopus. https://doi.org/10.1073/pnas.1231335100
Wen, J., Kozak, M., Yang, S., & Liu, F. (2020). COVID-19: Potential effects on Chinese citizens’
lifestyle and travel. Tourism Review, 76(1), 74–87. https://doi.org/10.1108/TR-03-2020-0110
Wen, J., Wang, C.C., Goh, E., Su, Z. and Ying, T. (2022), “Traditional Chinese medicine as a tourism
recovery drawcard to boost China’s inbound tourism after COVID-19”, Asia Pacific
Journal of Marketing and Logistics, Vol. 34 No. 2, pp. 385-400. https://doi.org/10.1108/
APJML-10-2020-0732
Wils, A, Maten, M. Kamiya, and Nazli Choucri. (2019). “Threats to Sustainability: Simulating
Con-flict within and ...” Accessed November 4, 2019. https://gssd.mit.edu/sites/default/
files/imce/threats_to_sustainability.pdf
WTTC. Research note: Travel & tourism recovery scenarios 2020 and economic impact from
COVID-19 (2020). June 2020. Retrieved from: https://wttc.org/Research/Economic-Impact/
Recovery-Scenarios-2020-Economic-Impact-from-COVID-19
European Commission. (2021). A European Green Deal. June 2021. Retrieved from https://
ec.europa.eu/info/strategy/priorities-2019-2024/european-green-deal_en
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