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Assessment of Innovation and Investment Attractiveness of the Western Ukrainian Regional Market of Tourist Services

Author

Listed:
  • Pavlov Kostiantyn
  • Pavlova Olena
  • Ilyin Leonid
  • Novosad Oksana
  • Bortnik Svitlana

    (Lesya Ukrainka Volyn National University)

Abstract

Methodological approaches to assessing the level of innovation and investment attractiveness of the Western Ukrainian market of tourist services (WUMTS) substantiated the dependence of WUMTS on investment factors analyzed the level of competitiveness of WUMTS. In order to determine the level of dependence (independence) of WUMTS on investment and innovation factors, a paired linear regression was built for each of the regions (regions) included in the WUMTS, Volyn, Rivne, Lviv, Ternopil, Khmelnytsky, Zakarpattia, I. Frankivsk, Chernivtsi). In order to eliminate the disproportionate impact of the size of the impact of tourist services (the so-called effect of scale), the studied absolute indicators were converted into relative (growth rate). To assess the innovation and investment attractiveness of WUMTS, it was decided to apply methodological approaches to implement and evaluate the effectiveness of state and regional policy with further improvement in several groups of indicators, monitoring and evaluation of innovation, investment, and social development of the studied areas. Data, information of central executive bodies, regional state administrations, etc. The assessment of WUMTS development indicators was carried out by calculating the rating for each area and the overall rating for all areas. The rating assessment was performed by comparing the deviations of the values of indicators for each specific region under the conditions of the best values for the relevant (reporting) period and the corresponding ranking of regions from 1st to 8th position. As a result of calculations, the integrated rating was determined as the arithmetic means of the sum of ratings in all areas using the formula. The competitiveness of regional tourism markets should be assessed comprehensively, where two groups of indicators should be used to determine the competitiveness of an individual region: indicators of the tourism market and indicators of development of the region as a whole.

Suggested Citation

  • Pavlov Kostiantyn & Pavlova Olena & Ilyin Leonid & Novosad Oksana & Bortnik Svitlana, 2023. "Assessment of Innovation and Investment Attractiveness of the Western Ukrainian Regional Market of Tourist Services," Economics, Sciendo, vol. 11(1), pages 45-68, June.
    • Handle: RePEc:vrs:econom:v:11:y:2023:i:1:p:45-68:n:13
    DOI: 10.2478/eoik-2023-0005
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    More about this item

    Keywords

    innovation; investment; attractiveness; regional market;
    All these keywords.

    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • E29 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Other
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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