WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 18, 2021
COVID-19 Tourist Seasons and Business Activities of Listed Hotel Companies in Croatia
Author:
Abstract: The spread of the COVID-19 pandemic has caused an interruption to everyday life and the economy. In many countries, as in Croatia, tourism revenues account for one-fifth of the GDP, so any reduction in tourism revenues significantly impacts the economy. In Croatia, the peak season, July and August in 2020, was 54 percent and in 2021 was 84 percent of 2019 arrivals due to a better epidemiological situation. Based on the result of listed companies in the touristic sector on the Zagreb Stock Exchange in 2020, a multiple regression analysis defined a common indicator for detecting business results. The model of the common indicator is based on the ROE indicator, the ratio of business revenue and total assets and financial strength. The entire economy, especially the hotel industry, cannot survive the COVID-19 crisis without government support measures
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Keywords: COVID-19 crisis, Financial Strength, Financial result, Revenue, ROE, Total Asset Turnover Ratio
Pages: 1291-1303
DOI: 10.37394/23207.2021.18.120