Economic Review, Vol. 65 No. 5, 2014.
Preliminary communication
THE IMPACT OF ECONOMIC POLICY MEASURES ON ECONOMIC POSITION AND COMPETITIVENESS OF HOTEL COMPANIES
Jože Perić
Branko Blažević
Daniel Dragičević
Abstract
Undertaken measures of economic policy, in the analysed thirteen year period
from 2001 to 2013, were not effective in terms of improving the economic position of
Croatian hotel industry. Economic policy measures were a refl ection of incomplete tourism
development policy and thus the hotel industry itself. Economic position comparison
of Croatian hotel industry and that of selected countries (Spain, France, Italy, Hungary,
Greece and Turkey) indicates a worse economic position of Croatian hotel industry which
is in great part a refl ection of (not)taken economic policy measures.
This paper has proved that the selected components of economic policy (VAT,
exchange rate and interest rate) essentially predetermine the economic position of the
Croatian hotel industry in the way that they limit the business performance and make it
less competitive in relation to its immediate competition.
Interdependence model of key components of economic policy and economic position
of hotel industry show that changes of selected components can result in a positive
gross result. In terms of applicability, model can serve as a good starting point in defi ning
the new economic policy measures for Croatian hospitality but also for related, export potential,
activities (agriculture, shipbuilding industry, manufacturing, agriculture). Despite
the expected positive effects of proactive measures it is important to recognize certain
limitations associated with the state budget, debt and country risk.
Keywords
macroeconomic competitiveness; economic policy; VAT; exchange rate; interest rate; Croatian hotel industry
Hrčak ID:
128102
URI
Publication date:
10.10.2014.
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