Improving the Process of the Financial Potential Management of Tourism Enterprises

Abstract

The objective of this study was to explore theoretical and practical basis of improving the process of the financial potential management of tourism enterprises. In the conditions of pandemic and post-pandemic time, the tourism industry of Ukraine and other countries of the world faces many new challenges, including the preservation and use of its financial potential. Based on the finan cial statements of 12 tourism enterprises, the financial potential of the business entities of the industry has been assessed, and regression analysis methods have been applied to the financial resources that form this potential. After carrying out correlation and regression analysis of own capital and main indicators of finan cial potential of tourist enterprises, a high degree of interdependence has been revealed. With the developed “Matrix of Strategic Benchmarks for Strengthening the Financial Potential of Tourism Enterprises”, industry entities can assess their financial security and potential, as well as ways to improve them. Based on the results of the activity of the examined tourism enterprises, the effectiveness of strategic benchmarks for strengthening the financial potential in the context of three groups of indicators was tested: indicators of financial security, financial independence and financial stability.