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Accessing Structural Funds - Way Of Recovering The Tourism Affected By The Global Economic Crisis

Author

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  • Alina Gabriela Jiletcovici

    (National Institute for Economic Researches,Romanian Academy, Bucharest)

Abstract

The tourism, as main component of national, as well as of the global economy, could not but be affected by the present financial crisis, already seen as an economic one. The effects of the worldwide crisis put their fingerprints on both components of the tourism, the demand as well as the tourism supply. The first one is affected because of the travelers’ prudence in spending money, and the latter due to the lack of money needed for the establishment of new facilities, as well as for the expanding or modernizing the existing ones. On both cases, the main cause of the stagnation or even decrease in the field of tourism consists in the lack of funds and this is mainly due to the fact that getting money has become a real challenge. Within this context, when the banks are more than reluctant to finance new projects, the structural and cohesion funds made available by the European Union can be a source of funds, with impact at both local and regional level.

Suggested Citation

  • Alina Gabriela Jiletcovici, 2010. "Accessing Structural Funds - Way Of Recovering The Tourism Affected By The Global Economic Crisis," Romanian Economic Business Review, Romanian-American University, vol. 5(1), pages 214-223, March.
    • Handle: RePEc:rau:journl:v:5:y:2010:i:1:p:214-223
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