THEORETICAL ANALYSIS OF THE FINANCIAL PERFORMANCE IN THE COVID CONTEXT 19 OF ECONOMIC ENTITIES IN THE HOTEL SECTOR AND OTHER ACCOMMODATION FACILITIES

Abstract

In this paper we aim to deal theoretically with how the industry-specific indicators are affected, given the situation created by COVID 19. We also aim to make performance forecasts at the level of entities in other sectors of activity. Previous work has looked at how accounting information arises in economic entities, how it is recorded in accounting, how it is used by users of accounting information, and econometric models through which financial performance can be assessed. Many authors have considered the tourism industry to be, by definition, one of the most vulnerable industries when it comes to threats related to economic, military or medical crises. Among many other issues encountered in the literature, we also focus on the fact that the seasonal workforce and the freedom to engage in hospitality and tourism have been affected. The challenge for sustainable global tourism will be to strike a balance between sustaining business in rich countries, and developing countries will need many incentives to close the economic gap. The development of tourism as stated by Gagan, D., S., (2020), can be based on four significant themes: sustainable tourism, climate action, transformation to a new global economy, order and resilience.

Keywords

• sustainable tourism
• tourism promotion
• financial indicators
• tourism industry
• government intervention