Modeling development strategy of tourism companies under the influence of external and internal environment: Evidence from Ukraine

Abstract

Nowadays, there is uncertainty in the external environment of tourism infrastructure companies. Such a situation necessitates modeling their behavior in the strategic perspective and identifying key development factors that will minimize the impact of adverse socioeconomic indicators, thus minimizing the likelihood of negative financial outcomes. This is taking place in conditions of development of tourism infrastructure companies in Ukraine and intensified competition with the absence of an appropriate management system in the development, production, and sale of tourism products and services. Thus, this study is highly relevant. The aim of this paper is to model the strategic development of tourism infrastructure using the SWOT methodology and correlation-regression analysis. Based on the diagnosis of trends in tourism infrastructure companies of Ukraine and their environment, an approach to the development strategy of tourism infrastructure companies is proposed. First, market trends in the tourism industry, which is a crucial component of the development strategy of tourism infrastructure, are considered. The essence of the proposed approach is to use the SWOT methodology. The determination of the most significant factors of companies’ internal and external environment is based on multifactor regression-correlation modeling. It is concluded that the general growth of tourism in Ukraine is due solely to the growing demand among the citizens of Ukraine for outbound tourism.

Keywords

• management
• regression-correlation model
• strategy
• SWOT analysis
• tourism infrastructure