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Determinants of profitability and the decision-making process of firms in the tourism sector: the case of Greece

Author

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  • George M. Agiomirgianakis
  • Anastasios I. Magoutas
  • George Sfakianakis

Abstract

This paper aims at investigating the determinants of profitability in the tourism sector of Greece. As tourism is one of the main industries in Greece, with a share in total economic activity varying from 15% to 20% of GDP (whether measured directly or indirectly respectively), both the theoretical and practical implications of pinpointing the determinants of profitability are significant: first, at the microeconomic level, these determinants are interwoven with the decision-making process of firms; and secondly, at the macroeconomic level, these determinants should be taken into account when policy makers try to formulate appropriate policies that could support or stimulate investment activity in the tourism sector.

Suggested Citation

  • George M. Agiomirgianakis & Anastasios I. Magoutas & George Sfakianakis, 2012. "Determinants of profitability and the decision-making process of firms in the tourism sector: the case of Greece," International Journal of Decision Sciences, Risk and Management, Inderscience Enterprises Ltd, vol. 4(3/4), pages 294-299.
    • Handle: RePEc:ids:ijdsrm:v:4:y:2012:i:3/4:p:294-299
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    Cited by:

    1. Tarun Kumar Soni & Akshita Arora & Thi Le, 2022. "Firm-Specific Determinants of Firm Performance in the Hospitality Sector in India," Sustainability, MDPI, vol. 15(1), pages 1-16, December.
    2. Voulgaris, Fotini & Lemonakis, Christos, 2014. "Competitiveness and profitability: The case of chemicals, pharmaceuticals and plastics," The Journal of Economic Asymmetries, Elsevier, vol. 11(C), pages 46-57.

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