Can Proper Funding Enhance Sustainable Tourism in Rural Settings? Evidence from a Developing Country

Gordana Radović, Marko D. Petrović, Dunja Demirović Bajrami, Milan Radovanović and Natalia Vuković
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Gordana Radović: “Dnevnik-Poljoprivrednik”, 21000 Novi Sad, Serbia
Marko D. Petrović: Geographical Institute “Jovan Cvijić”, Serbian Academy of Sciences and Arts, 11000 Belgrade, Serbia
Dunja Demirović Bajrami: Geographical Institute “Jovan Cvijić”, Serbian Academy of Sciences and Arts, 11000 Belgrade, Serbia
Milan Radovanović: Geographical Institute “Jovan Cvijić”, Serbian Academy of Sciences and Arts, 11000 Belgrade, Serbia
Natalia Vuković: Faculty of World Economy and International Affairs, School of World Economy, National Research University Higher School of Economics, Moscow 119017, Russia

Sustainability, 2020, vol. 12, issue 18, 1-16

Abstract: Rural tourism is often considered to be a factor in the development tendencies of rural space, a factor in the development of agriculture, as well as a factor in reducing rural depopulation. The primary aim of the research was to look at the problems in financing sustainable rural tourism in the case study of Serbia. The secondary one was to analyze the factors that may influence the self-financing capacity of rural tourism service providers. The findings confirmed the main hypothesis that financial resources are a significant limitation of the development of sustainable rural tourism. It was found that there is a high correlation between the amount of income generated and the structure of the workforce. The results verified that rural tourism entities were not making sufficient investments due to lack of financial resources, i.e., adequate financing modalities. It can be concluded thatin order to develop sustainable rural tourism, financial investments are needed, both at the level of service providers and at the macro level.

Keywords: rural tourism; sustainable development; financial models; developing society (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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