Regional Economics: Theory and Practice

The impact of modern economic crises on efficient functioning of the tourism and recreation sphere in the Baikal Area

Vol. 16, Iss. 7, JULY 2018

Received: 27 April 2018

Received in revised form: 25 May 2018

Accepted: 7 June 2018

Available online: 17 July 2018


JEL Classification: D83, Р25

Pages: 1376–1390

Rubtsova N.V. Baikal State University, Irkutsk, Russian Federation

Importance The article investigates the impact of economic crises of the 21-st century on efficient functioning of regional socio-economic systems.
Objectives The aim is to demonstrate the influence of macroeconomic factors on tourist and recreational services in two regions of the Baikal area (the Irkutsk oblast and the Republic of Buryatia).
Methods The study draws on comparative analysis, generalization, and analogy.
Results The paper analyzes the impact of two economic crises (2008–2009 and 2014–2015) on the basis of statistical data characterizing the tourism and recreation in the Baikal area. It demonstrates the multidirectional nature of the impact of economic crises. The findings show how macroeconomic factors influence tourist and recreational services in regions.
Conclusions The analysis reveals two tendencies in the sphere of tourist and recreational services, i.e. a rather high susceptibility to external economic and political factors and the ability of enterprises operating in the tourism and recreation sector to adapt to unfavorable external effects. Economic crises should be viewed as a positive factor that unlocks the potential of the said enterprises and enables them to transfer to a qualitative level of development and functioning.

Keywords: economic crisis, tourist services, recreational services, tourism


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