EFFECTS OF THE GLOBAL ECONOMIC CRISIS ON SERBIAN ECONOMY TOURISM AND ITS OVERCOMING
Abstract
The global economic crisis has had far-reaching consequences on the economy of all countries around the world, slowing economic growth globally due to the falling demand in the developed economies. The fall in the demand for goods and services has reduced trade exchange at the global level which has had a great impact on the Serbian economy. The main negative effects of the global economic crisis on the Serbian economy, among other things, are a decline in industrial production, decline in exports and a reduction in foreign direct investments. The negative impact of the global economic crisis on the tourism industry of Serbia is evident through indicators such as a significant reduction in the actual number of overnight stays and the total number of tourist arrivals since 2009. The aim of this study is to provide concrete proposals for the revitalization of the tourism industry of Serbia, to overcome the long-term negative economic results dating back to the time before the official emergence of the global economic crisis.
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