Spectator on facebook

Spectator on facebook

Analysis: Slovakia lacks competitive tourism

Neither Slovakia nor the Czech Republic are countries in which tourism could be viewed as the bedrock of their economies, an analysis by UniCredit Bank finds.

Štrbské pleso(Source: Sme)

“With tourism accounting for just over 6 percent of Slovakia's GDP, the figure is the eighth-lowest in the EU in this respect,” UniCredit analyst Ľubomír Koršňák informed the TASR newswire. The EU average is 10 percent, according to figures by the World Travel & Tourism Council.

“The low contribution of tourism to the GDPs of Slovakia and the Czech Republic boils down to their low competitiveness in the sector,” Koršňák said.

Read also: Read also:Recreational vouchers may return

The two countries have also been placed in the bottom half of EU countries’ tourism rankings by the World Economic Forum. In their survey, among EU countries, only Romania placed lower than Slovakia, and the Czech Republic held the 19th place.

Reasons behind ranking

Four components make up the competitiveness index - a country's (un)favourable business conditions, policies, infrastructure and natural and cultural resources.

“While countries hold some sway over the first three areas, natural and cultural resources are more or less given and determine the natural potential of a country in tourism,” said Korsnak, as cited by TASR.

Slovakia was ranked as the 12th best in the EU in terms of natural potential but took a lowly 115th place among all 136 countries under review in the category of business environment in tourism. The areas in which Slovakia was found lacking primarily relate to how effective the country's legal framework is in resolving disputes, the length of procedures regarding construction permits and the effect of taxation on the motivation to work.

Deficiencies were also noted in the level of importance that government policies place on tourism, particularly regarding public expenditures, effective promotion, air transport development, availability of a qualified labour force and the flexibility of labour law.

Topic: Economics


Top stories

Robert Fico has lost the electoral magic he once had Plus

But his party can still bounce back if they do the things that make parties resilient.

Robert Fico claims that Smer won the regional elections because it is the party with the most chairs in regional councils.

The ongoing struggle for a free and democratic Slovakia

The people of Slovakia deserve the credit for the remarkable progress that this country has made over the past twenty-five years, US ambassador writes.

Illustrative stock photo

How propaganda has learned to use the truth

The Czech Centre for Investigative Journalism analysed the information war in the Visegrad Group countries.

Migration crisis was one of causes for the rise in conspiracies and fake or hybrid news; illustrative stock photo

New legislation protects creditors from unfair mergers

Fraudulent mergers were a legal business model enabling unfair businesses to get rid of debts

Tightening conditions when merging companies will increase the red tape of lawful mergers and prolong this procedure.