Opportunities and Challenges for Tourism Enterprises in Relation to Tourist Spending

Elena Petkova – Sofia University “St. Kliment Ohridski”, 15 Tzar Osvoboditel Blvd., Sofia, Bulgaria

Abstract: The focus of the study is on tourism expenditure. The distribution and spending of funds by tourists are studied with a view to making appropriate decisions in general and financial management, and especially in the marketing management of tourism enterprises, more specifically in segmenting the market and choosing suitable target segments of tourists, developing relevant products and pricing strategies and selection of proper communication and sales channels. The article presents some models and trends of variation in the amount of funds spent by tourists, both from some world markets in general and in Bulgaria in particular in recent years. Some reasons for these changes are given, and chal­lenges and opportunities facing tourism business managers are outlined. The level of tourism expenditure changes over time and depends on the nationality of the tourists, the type of tourist trip, and the tourist services used. The results of the current research reveal a significant drop in tourism spending due to the crisis in 2020 and rapid growth in the following years. Managers of tourism enterprises should consider these trends, especially when choosing tourist target markets, to realize positive financial results for the tourism enterprise.

8th International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2024 – Conference Proceedings, Hybrid (Zayed University, Dubai, UAE), October 24, 2024

ITEMA Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ITEMA conference partners: Faculty of Economics and Business, University of Maribor, Slovenia; Faculty of Organization and Informatics, University of Zagreb, Varaždin; Faculty of Geography, University of Belgrade, Serbia; Institute of Marketing, Poznan University of Economics and Business, Poland; Faculty of Agriculture, Banat’s University of Agricultural Sciences and Veterinary Medicine ”King Michael I of Romania”, Romania

ITEMA Conference 2024 Conference Proceedings: ISBN 978-86-80194-89-9, ISSN 2683-5991, DOI: https://doi.org/10.31410/ITEMA.2024

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.