THE IMPACT OF HUMAN CAPITAL ON TOURISM DEVELOPMENT

Vesna Milovanović

Vesna Milovanović Faculty of Hotel Management and Tourism in Vrnjačka Banja, University of Kragujevac

Abstract

The quality of a tourism destination’s offer is determined to a large extent by the quality of its human capital. Human capital represents a measure of the economic value of employees’ set of knowledge, habits, competences, motivation, enthusiasm and other personality attributes. Increasing the competitiveness of a tourism destination requires an effective human capital management. The goal of this paper is to analyze the linkages between human capital management and tourism development. A special emphasis is put on staff education, involvement and empowerment in tourism related organizations. The enlargement of human capital contributes to innovative potential, work effectiveness and efficiency, leading to reduced costs and increased customer value at the same time. As a result, the particular destination becomes attractive for tourists, but also for investors and employees. The main conclusion of this study suggests that human capital management leads to sustainable tourism development.

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