IDEAS home Printed from https://ideas.repec.org/a/bba/j00005/v1y2023i2p57-67d189.html

Variability of Income Flows of Tourism Companies during a Nine-Year Period

Author

Listed:
  • Iovino Felicetta

    (Business School, University of London, London, UK)

Abstract

The global financial crisis has affected all countries during the period 2007-2014. Tourist companies, especially in Italy, play a significant role in the economy of a country. The performance of tourism companies, and in particular hotels and travel agencies and tour operators, will be analysed in this paper, relative to the period of the crisis. The aim of this paper is to analyze profitability dynamics of the aforementioned tourist companies, to check whether they have suffered the effects of the global crisis. To this end, data from AIDA database relating to Italian companies in the sector were used. The profitability of these companies has been analyzed using the main profitability ratios, ROI and ROS ratios. An analysis of the trends and ANOVA of these ratios was carried out for the period 2007-2015. In this way, it has been verified whether the global crisis has affected profitability dynamics of hotels and travel agencies and tour operators in Italy. There is a parallelism in the trends of the main operators' indices in the three Italian macro-regions. The best performance is in the South, in a less developed economic context. The crisis has reduced the income indices in the first three years, even if the figure remains positive. Since 2012 there is a clear recovery, especially for hotels; intermediaries, on the other hand, suffer from competition from websites. However, the indices confirm the close relationship between travel agencies, tour operators and hotels. ROI mainly rewards first, while ROS intermediaries.

Suggested Citation

  • Iovino Felicetta, 2023. "Variability of Income Flows of Tourism Companies during a Nine-Year Period," Journal of Economic Statistics, Anser Press, vol. 1(2), pages 57-67, August.
    • Handle: RePEc:bba:j00005:v:1:y:2023:i:2:p:57-67:d:189
    as

    Download full text from publisher

    File URL: https://www.anserpress.org/journal/jes/1/2/11/pdf
    Download Restriction: no
    File URL: https://www.anserpress.org/journal/jes/1/2/11
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Walid Mensi, 2019. "Global financial crisis and co-movements between oil prices and sector stock markets in Saudi Arabia: A VaR based wavelet," Borsa Istanbul Review, Research and Business Development Department, Borsa Istanbul, vol. 19(1), pages 24-38, March.
    2. Al-Najjar, Basil, 2014. "Corporate governance, tourism growth and firm performance: Evidence from publicly listed tourism firms in five Middle Eastern countries," Tourism Management, Elsevier, vol. 42(C), pages 342-351.
    3. Kerstin Bremser & María del Mar Alonso-Almeida & Josep Llach, 2018. "Strategic alternatives for tourism companies to overcome times of crisis," Service Business, Springer;Pan-Pacific Business Association, vol. 12(2), pages 229-251, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lu, Yun & Ntim, Collins G. & Zhang, Qingjing & Li, Pingli, 2022. "Board of directors’ attributes and corporate outcomes: A systematic literature review and future research agenda," International Review of Financial Analysis, Elsevier, vol. 84(C).
    2. Vu Quang Trinh & Neelu Seetaram & Kiet Tuan Duong & Xuan Vinh Vo, 2023. "Collusive behaviour, risk and performance of tourism firms," Tourism Economics, , vol. 29(8), pages 2103-2128, December.
    3. repec:osf:osfxxx:ajmvn_v1 is not listed on IDEAS
    4. Alqahtani, Faisal & Hamdi, Besma & Hammoudeh, Shawkat, 2021. "The effects of global factors on the Saudi Arabia equity market by firm size: Implications for risk management based on quantile analysis and frequency domain causality," Journal of Multinational Financial Management, Elsevier, vol. 61(C).
    5. Martina Pilloni & József Kádár & Tareq Abu Hamed, 2022. "The Impact of COVID-19 on Energy Start-Up Companies: The Use of Global Financial Crisis (GFC) as a Lesson for Future Recovery," Energies, MDPI, vol. 15(10), pages 1-15, May.
    6. Ahmed A. Elamer & Bassam A. Elbialy & Kholoud A. Alsaab & Mohamed A. Khashan, 2022. "The Impact of COVID-19 on the Relationship between Non-Renewable Energy and Saudi Stock Market Sectors Using Wavelet Coherence Approach and Neural Networks," Sustainability, MDPI, vol. 14(21), pages 1-24, November.
    7. Md Fouad Bin Amin & Mohd Ziaur Rehman, 2022. "Asymmetric Linkages of Oil Prices, Money Supply, and TASI on Sectoral Stock Prices in Saudi Arabia: A Non-Linear ARDL Approach," SAGE Open, , vol. 12(1), pages 21582440211, January.
    8. Harman Preet Singh & Ibrahim Abdullah Alhamad, 2022. "A Novel Categorization of Key Predictive Factors Impacting Hotels’ Online Ratings: A Case of Makkah," Sustainability, MDPI, vol. 14(24), pages 1-25, December.
    9. Rocío González-Sánchez & Sara Alonso-Muñoz & María-Sonia Medina-Salgado & María Torrejón-Ramos, 2023. "Driving circular tourism pathways in the post-pandemic period: a research roadmap," Service Business, Springer;Pan-Pacific Business Association, vol. 17(3), pages 633-668, September.
    10. Anis Ali, 2020. "Financial performance, disparity, and trend of petrochemicals sector of Saudi Arabia," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(1), pages 809-824, September.
    11. Mensi, Walid & Ur Rehman, Mobeen & Maitra, Debasish & Hamed Al-Yahyaee, Khamis & Sensoy, Ahmet, 2020. "Does bitcoin co-move and share risk with Sukuk and world and regional Islamic stock markets? Evidence using a time-frequency approach," Research in International Business and Finance, Elsevier, vol. 53(C).
    12. Yu-Xia Lin & Ming-Hsiang Chen & Lu Lu, 2022. "The impact of international tourism on hotel sales performance: New proposals and evidence," Tourism Economics, , vol. 28(6), pages 1480-1498, September.
    13. Mohammed Mahmud Kakanda, & Basariah Salim, & Sitraselvi Chandren,, 2017. "Do board characteristics and risk management disclosure have any effect on firm performance? Empirical evidence from Deposit Money Banks (DMBs) in Nigeria," Business and Economic Horizons (BEH), Prague Development Center, vol. 13(4), pages 506-521, October.
    14. Anita Mirchandani & Namrata Gupta, 2018. "Impact of Ownership Structure and Corporate Governance on the Performance: A Case of Selected Banks in UAE," International Journal of Economics and Financial Issues, Econjournals, vol. 8(3), pages 197-206.
    15. Mohammad Ashraful Ferdous Chowdhury & Mohammad Abdullah & Zunaidah Sulong, 2025. "Examining the impact of Halal tourism industry sustainability on stock returns," Tourism Economics, , vol. 31(5), pages 843-860, August.
    16. Emrah Ismail Cevik & Sel Dibooglu & Atif Awad Abdallah & Eisa Abdulrahman Al-Eisa, 2021. "Oil prices, stock market returns, and volatility spillovers: evidence from Saudi Arabia," International Economics and Economic Policy, Springer, vol. 18(1), pages 157-175, February.
    17. Basel Maraqa & Murad Bein, 2020. "Dynamic Interrelationship and Volatility Spillover among Sustainability Stock Markets, Major European Conventional Indices, and International Crude Oil," Sustainability, MDPI, vol. 12(9), pages 1-14, May.
    18. Ngo Thai Hung & Xuan Vinh Vo, 2023. "Multi-scale Features of Interdependence Between Oil Prices and Stock Prices," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 30(3), pages 475-504, September.
    19. Al-Najjar, Basil, 2015. "Does ownership matter in publicly listed tourism firms? Evidence from Jordan," Tourism Management, Elsevier, vol. 49(C), pages 87-96.
    20. Mensi, Walid & Vo, Xuan Vinh & Kang, Sang Hoon, 2023. "Quantile spillovers and connectedness analysis between oil and African stock markets," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 60-83.
    21. Thi Thuc Doan Nguyen, 2020. "The Relationship Between Board of Directors and Sustainability Reporting: An Empirical Study in German Large Listed Firms," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 68(1), pages 211-218.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bba:j00005:v:1:y:2023:i:2:p:57-67:d:189. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ramona Wang (email available below). General contact details of provider: https://www.anserpress.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.