MANAGEMENT OF STRATEGIC CHANGES AND RISKS IN THE DEVELOPMENT OF THE TOURISM INDUSTRY
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Abstract
The article explores the theoretical and practical aspects of managing strategic changes and risks in the development of the tourism industry. The tourism sector is currently facing a number of significant challenges, which can be attributed to the evolving nature of market demands, geopolitical instability, and economic disruptions. In order to ensure long-term sustainability, the tourism sector requires the implementation of effective strategies. The objective of the present study is to identify strategies and tools for managing strategic changes and mitigating risks in the development of the tourism industry. The objectives of the research include analysing the key drivers of strategic change within the tourism sector, examining the risks associated with these changes, and proposing a framework to ensure resilience and sustainable growth in the face of external and internal challenges. The research further investigates the impact of strategic risks on consumer behaviour, competitive positioning, and the ability of tourism enterprises to attract investments and international partnerships. These are all crucial for the recovery and growth of the industry. The methodological basis of the study incorporates a systematic approach that integrates both qualitative and quantitative methods, including case studies, expert interviews, and statistical analysis. These methodologies facilitate a comprehensive evaluation of the nature of strategic changes and risks in the tourism industry, thereby aiding in the development of actionable strategies for risk management. The findings emphasise the significance of adaptive risk management practices, including scenario planning, market diversification, and digital transformation, in ensuring the industry's competitiveness. The methodological basis of the study incorporates a systematic approach that integrates both qualitative and quantitative methods, including case studies, expert interviews, and statistical analysis. These methodologies facilitate a comprehensive evaluation of the nature of strategic changes and risks in the tourism industry, thereby aiding in the development of actionable strategies for risk management. The findings emphasise the significance of adaptive risk management practices, including scenario planning, market diversification, and digital transformation, in ensuring the industry's competitiveness.
How to Cite
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management, tourism, hotel industry, tourism industry, risk management
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