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FINANCIAL SUPPORT OF TOURISM DEVELOPMENT TO THE TRANSITION COUNTRIES
Ludmila Novacka
; University of Economics m Bratislava, Faculty of Commerce, Institute of Services and Tourism, Slovak Republic
Abstract
This paper discusses financial support to the development of tourism in the transition countries. The level of economic development is different. It influences the possibility of capital investment out of domestic sources. It is also showed that the FDI (Foreign Direct Investment) is extremely important factor in the development process due to this economic situation. It is especially related to the Middle European countries, as the highest amount of the foreign capital has been invested there. Besides, different funds (programs) established within the EU, and primarily directed towards the Middle European countries, have considerably contributed so far. An exceptionally important role in it had PHARE program. It is pointed out that this kind of financial help has contributed to the development of the infrastructure for the general institutional and economic growth.
Keywords
financial support; tourism development; transition countries; FDI; development program
Hrčak ID:
222662
URI
Publication date:
11.6.2001.
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