1. bookVolume 2 (2020): Issue 1 (December 2020)
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20 Oct 2019
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English
access type Open Access

Romania’s tourism industry in free fall

Published Online: 31 May 2021
Page range: 3 - 13
Journal Details
License
Format
Journal
First Published
20 Oct 2019
Publication timeframe
1 time per year
Languages
English
Abstract

Tourism is one of the consistent branches of the national economy, which can ensure some concrete results and a tailor-made contribution to the formation of the Gross Domestic Product. The tourism industry is also called invisible trade in the sense that, although it does not export goods and services, by practicing it, by developing it, it ensures consistent revenues to the state budget, but also ensures the possibility of increasing Gross Domestic Product.

Analysing the current situation of the health and economic-financial crisis, it is found that in 2020 HoReCa, the tourism industry, complementary services have decreased alarmingly. Against this background, tourism has reduced its contribution to the formation of the Gross Domestic Product, which can lead to an even greater decrease.

Investments in tourism are eroding. There is no possibility of refinancing despite support measures provided by the authorities. We say in spite of some measures granted because the postponement of some payments, the postponement of some credits, the transition to technical unemployment and others will be coupled later with other measures with almost devastating effect for the Romanian economy. Thus, many jobs will be lost. On the other hand, tourism companies will not be able to move from technical unemployment to normal activity and give a minimum of six months to those in this situation.

The tourist market practically does not exist because there are only sequential possibilities in which it takes place, but especially under the rule of business activities, which are also considered tourist activities.

The tourist activity materialized through arrivals, overnight stays, arrivals and departures has decreased steadily and this result mainly from the data subject to the study we mentioned. It is necessary to interpret these data and possibly find ways to recover.

Keywords

JEL Classification

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