MODERN DEVELOPMENT TRENDS IN THE GLOBAL TOURISM MARKET

Abstract

The article offers insights into the modern trends that shape a vector of world tourism services as well as provides an analysis of statistical profitability indicators of the global tourism market and quantitative indicators of tourist flows. It has been verified that quantitative indicators of tourist flows geography are directly dependent on the level of socioeconomic development of countries and regions which translates into their inequality. A survey on the dynamics of international tourist arrivals has allowed to identify the top global tourism leaders with a particular emphasis on the countries that are leaders in the area of business and entertainment tourism. Tourism has proved to be a profitable sector of the economy boosting investment, entrepreneurial and innovative activities of all tourism entities. The study findings have revealed that tourism is a catalyst for economic, social and cultural change as well as it has positive effects on society development worldwide. Apart from the above, statistical data have been investigated demonstrating that the tourism market contributes towards creating new jobs and additional capital injections from tourist flows. Evidence has been provided that the key trend in global tourism development is the creation of partnerships which further form transnational business structures that build their commercial activities based on franchise agreements. It is argued that globalization processes is a powerful driver enhancing the tourism market development. The study also offers an overview of the specific features of tourism industry development in Ukraine which prove to have promising development prospects within the frameworks of partnerships with foreign companies as well as in the format of independent entrepreneurship activities.