Assessment of Innovation and Investment Attractiveness of the Western Ukrainian Regional Market of Tourist Services

Pavlov Kostiantyn (), Pavlova Olena, Ilyin Leonid, Novosad Oksana and Bortnik Svitlana
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Pavlov Kostiantyn: Lesya Ukrainka Volyn National University
Pavlova Olena: Lesya Ukrainka Volyn National University
Ilyin Leonid: Lesya Ukrainka Volyn National University
Novosad Oksana: Lesya Ukrainka Volyn National University
Bortnik Svitlana: Lesya Ukrainka Volyn National University

Economics, 2023, vol. 11, issue 1, 45-68

Abstract: Methodological approaches to assessing the level of innovation and investment attractiveness of the Western Ukrainian market of tourist services (WUMTS) substantiated the dependence of WUMTS on investment factors analyzed the level of competitiveness of WUMTS. In order to determine the level of dependence (independence) of WUMTS on investment and innovation factors, a paired linear regression was built for each of the regions (regions) included in the WUMTS, Volyn, Rivne, Lviv, Ternopil, Khmelnytsky, Zakarpattia, I. Frankivsk, Chernivtsi). In order to eliminate the disproportionate impact of the size of the impact of tourist services (the so-called effect of scale), the studied absolute indicators were converted into relative (growth rate). To assess the innovation and investment attractiveness of WUMTS, it was decided to apply methodological approaches to implement and evaluate the effectiveness of state and regional policy with further improvement in several groups of indicators, monitoring and evaluation of innovation, investment, and social development of the studied areas. Data, information of central executive bodies, regional state administrations, etc. The assessment of WUMTS development indicators was carried out by calculating the rating for each area and the overall rating for all areas. The rating assessment was performed by comparing the deviations of the values of indicators for each specific region under the conditions of the best values for the relevant (reporting) period and the corresponding ranking of regions from 1st to 8th position. As a result of calculations, the integrated rating was determined as the arithmetic means of the sum of ratings in all areas using the formula. The competitiveness of regional tourism markets should be assessed comprehensively, where two groups of indicators should be used to determine the competitiveness of an individual region: indicators of the tourism market and indicators of development of the region as a whole.

Keywords: innovation; investment; attractiveness; regional market (search for similar items in EconPapers)
JEL-codes: C13 C51 E20 E27 E29 H54 L82 O18 O31 O32 R10 R12 R38 R58 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:econom:v:11:y:2023:i:1:p:45-68:n:13

DOI: 10.2478/eoik-2023-0005

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