Open AccessTHE CRISIS IS A NATURAL PART OF ECONOMIC DEVELOPMENT, IT IS NECESSARY TO LEARN TO FACE IT
Author(s) -
Andrej Kóňa
Publication year - 2021
Publication title -
slovak journal of public policy and public administration
Language(s) - English
Resource type - Journals
eISSN - 1339-7826
pISSN - 1339-5637
DOI - 10.34135/sjpppa.210808
Subject(s) - prosperity , euros , tourism , face (sociological concept) , economic policy , european union , slovak , development economics , economics , political science , business , economic growth , czech , social science , philosophy , linguistics , sociology , humanities , law
Europe has the strongest and largest tourism in the world. As in times of economic prosperity, the industry can prosper, in the case of a change in the economic environment as a result of a crises, it is hit hard and the tourism industry throughout the European Union is suffering billions of euros in damage. It is the case of all post-communist countries and also in Slovak Republic. The effects of such fluctuations are all the greater for the country´s GDP because they do not have contingency plans in place and solutions are often chaotic or implemented too late. The article assesses the impact of several crises, including the current one associated with COVID-19 and predicts a possible approach to mitigate the consequences of the crisis and at the same time better manage the future crisis.