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{"id":20694,"date":"2025-10-01T18:33:01","date_gmt":"2025-10-01T15:33:01","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=20694"},"modified":"2025-10-01T18:33:01","modified_gmt":"2025-10-01T15:33:01","slug":"comparative-analysis-of-the-financial","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/comparative-analysis-of-the-financial\/","title":{"rendered":"Zubekhina T. Comparative Analysis Of The Financial Performance Of Tourism Enterprises In The Regions Of Ukraine"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]<\/p>\n\n\n\n
JEL Classification:<\/strong> L83; G30; R11; M21; C12.<\/td>\nDOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V52(2025)-09<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text]Zubekhina Tetiana, <\/b>PhD in Pedagogical Sciences, Associate Professor, Associate Professor of the Department of Tourism and Hotel and Restaurant Management, Lutsk National Technical University, Ukraine<\/span><\/p>\n

ORCID ID:<\/strong> 0000-0001-9929-4405<\/span><\/a>
\ne-mail: <\/strong>t.zubekhina@lntu.edu.ua<\/span><\/a><\/p>\n

 <\/p>\n

Comparative Analysis Of The Financial Performance Of Tourism Enterprises In The Regions Of Ukraine<\/b><\/h2>\n

Abstract. Introduction<\/i><\/b>.\u00a0<\/span><\/i>Ukraine’s tourism industry has undergone significant structural and functional changes due to the full-scale war. These transformations include a decline in outbound tourism, a reorientation towards the domestic market, and the adaptation of business models to new challenges. A regional analysis of financial performance makes it possible to identify the main trends and specific features of development. A comparison of the Volyn and Poltava Oblasts is particularly relevant, given their different market strategies, geographical conditions, and levels of international integration.<\/span><\/i><\/p>\n

Purpose.<\/i><\/b> The aim of the study is to conduct a comprehensive comparative analysis of the financial performance of travel agencies in the Volyn and Poltava Oblasts. The analysis considers the number of enterprises, revenue volumes, and average income per enterprise, with the goal of identifying the factors influencing efficiency and competitiveness of regional tourism markets under current conditions.<\/span><\/i><\/p>\n

Results.<\/i><\/b> Despite having fewer registered travel agencies, the Volyn region shows more dynamic growth. In 2024, its total revenue increased more than ninefold compared to 2022 and exceeded Poltava\u2019s indicator by 63,9%. The average revenue per enterprise in Volyn reached UAH 3,59 million in 2024, compared to UAH 2.92 million in Poltava. These outcomes are associated with the focus on inbound and outbound tourism, active cooperation with foreign partners, and the concentration of revenues among major operators. Poltava, in contrast, is characterized by a larger number of enterprises and a more even income distribution, which ensures stability but constrains growth due to the dominance of domestic tourism.<\/span><\/i><\/p>\n

Conclusions.<\/i><\/b> The comparative analysis highlights essential regional differences in the financial performance of travel agencies during wartime. Volyn demonstrates the advantages of international orientation and revenue concentration, while Poltava reflects the resilience of a diversified domestic market. Future research should examine the influence of external factors, assess support programs, and explore the potential of digitalization and innovative services to strengthen competitiveness in the post-war period.<\/span><\/i><\/p>\n

Keywords:<\/b> travel agencies; financial performance; revenue; average income; domestic tourism; outbound tourism; competitiveness; regional analysis.<\/span><\/i><\/p>\n

References<\/b>:<\/strong><\/p>\n

    \n
  1. Baida, B. (2020). Overview of approaches to evaluation of tourist activity effectiveness. <\/span>Galician economik journal<\/span><\/i>, 1(62), 50-56. https:\/\/doi.org\/10.33108\/galicianvisnyk_tntu2020.01.050.<\/span><\/li>\n
  2. Matviichuk, L., & Smal, B. (2021). Formation of tourist clusters as a direction of increasing the competitiveness of the regional hospitality industry. <\/span>Actual problems of economics<\/span><\/i>, 5(239), 6-16. https:\/\/eco-science.net\/wp-content\/uploads\/2021\/05\/05.21._note_ukr_Matviychuk-L.Yu_.-Smal-B.A.-6-16.pdf.<\/span><\/li>\n
  3. Okhrimenko, A., Bovsh, L., & Kulyk, M. (2025). Strategic approaches to personnel stimulation in the tourism and hospitality sector in Ukraine in war conditions. <\/span>Current Problems of Sustainable Development<\/span><\/i>, 2(5), 56-65. https:\/\/doi.org\/10.60022\/2(5)-7S<\/span>.<\/span><\/li>\n
  4. Tiutiunnyk, Yu., Leha, O., Bezkrovnyi, O., Lipskyi, R., & Romash, D. (2025). Financial and economic dimension of tourism development in Poltava region. <\/span>Achievements of the economy: prospects and innovations<\/span><\/i>, 16. https:\/\/doi.org\/10.5281\/zenodo.15030492.<\/span><\/li>\n
  5. Maryniak, Y. (2020).\u00a0 Activity subjects of the tourism business of the Podilski Ukrainian region: status and challenges. <\/span>Scientific Issues of Ternopil Volodymyr Hnatiuk National Pedagogical University. Series: Geography<\/span><\/i>, 49(2). https:\/\/doi.org\/10.25128\/2519-4577.20.2.8.<\/span><\/li>\n
  6. Vovk, O., Tulchynska, S., Popelo, O., Tulchinskiy, R., & Tkachenko, T. (2021). Economic and mathematical modeling of the integration impact of modernization on increasing the enterprise competitiveness. <\/span>Management Theory and Studies for Rural Business and Infrastructure Development<\/span><\/i>, 43(3), 383-389. https:\/\/doi.org\/10.15544\/mts.2021.35.<\/span><\/li>\n
  7. YouControl (2025). <\/span>Tourism in Ukraine<\/span><\/i>. URL: https:\/\/catalog.youcontrol.market\/turyzm?utm_source=chatgpt.com.<\/span><\/li>\n
  8. Zubekhina, T. (2025). Regional assessment of development trends of cultural tourism entities. <\/span>Investments: Practice and Experience<\/span><\/i>, 9, 88-94. https:\/\/doi.org\/10.32702\/2306-6814.2025.9.88.<\/span><\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received: <\/strong>18 August 2025<\/span><\/p>\n

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    Zubekhina T. (2025). Comparative Analysis Of The Financial Performance Of Tourism Enterprises In The Regions Of Ukraine. Modern Economics, 52(2025), 62-67. DOI: https:\/\/doi.org\/10.31521\/modecon.V52(2025)-09.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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    [vc_row][vc_column][vc_column_text] JEL Classification: L83; G30; R11; M21; C12. DOI: https:\/\/doi.org\/10.31521\/modecon.V52(2025)-09 [\/vc_column_text][vc_column_text]Zubekhina Tetiana, PhD in Pedagogical Sciences, Associate Professor, Associate Professor of the Department of Tourism and Hotel and Restaurant Management, Lutsk National Technical University, Ukraine ORCID ID: 0000-0001-9929-4405 e-mail: t.zubekhina@lntu.edu.ua   Comparative Analysis Of The Financial Performance Of Tourism Enterprises In The Regions Of Ukraine
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