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{"id":23020,"date":"2026-10-08T09:42:32","date_gmt":"2026-10-08T06:42:32","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=23020"},"modified":"2026-10-08T09:42:32","modified_gmt":"2026-10-08T06:42:32","slug":"investment-potential-of-event-tourism","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/investment-potential-of-event-tourism\/","title":{"rendered":"Runcheva N., Babko N. Investment Potential of Event Tourism in the Conditions of a Transformational Economy"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]<\/p>\n\n\n\n
JEL Classification:<\/strong> L83; O18; R58; Z32<\/span><\/i><\/td>\nDOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V58(2026)-32<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text]Runcheva Natalia, <\/b>Doctor of Economics, Professor, Associate Professor of the Department of Economics, Hospitality and Tourism Business, Bogdan Khmelnitsky Melitopol State Pedagogical University, Zaporizhzhia, Ukraine<\/span><\/p>\n

ORCID:<\/strong> 000-0001-8645-9821<\/span><\/a>
\ne-mail: <\/strong>runnata@ukr.net<\/span><\/a><\/p>\n

Babko Nataliia, <\/b>PhD (Economics), Associate Professor of the Department of Economics, Hospitality and Tourism Business, Bogdan Khmelnitsky Melitopol State Pedagogical University, Zaporizhzhia, Ukraine<\/span><\/p>\n

ORCID:<\/strong> 0000-0002-7620-9500<\/span><\/a>
\ne-mail: <\/strong>natalia.babko@ukr.net<\/span><\/a><\/p>\n

Investment Potential of Event Tourism in the Conditions of a Transformational Economy<\/b><\/p>\n

Abstract. Introduction. <\/em><\/strong>Event tourism is considered a flexible instrument for territorial recovery, local business activation and destination positioning under volatile economic conditions. The investment relevance of events increases when tourism demand becomes more fragmented, when communities need short-cycle economic effects, and when investors require measurable social, cultural and environmental outcomes.<\/span><\/i><\/p>\n

Purpose<\/i><\/b>. The purpose of the article is to substantiate the structure of the investment potential of event tourism in a transformational economy and to determine practical directions for converting event activity into sustainable territorial value.<\/span><\/i><\/p>\n

Results<\/i><\/b>. The article defines event tourism investment potential as the capacity of a destination and its event portfolio to attract financial, human, technological and institutional resources and to transform them into stable visitor flows, local value added and reputational capital. The study systematizes the components of this potential: resource, market, infrastructure, institutional, financial, digital, sociocultural and security-related. It is shown that the most productive investment logic is not the financing of isolated festivals, but the creation of a balanced calendar of anchor, niche and community events connected with hospitality, creative industries, transport, food systems and cultural heritage. Several tables summarize the evaluation indicators, investment mechanisms and risk mitigation tools for event projects.<\/span><\/i><\/p>\n

Conclusions<\/i><\/b>. It is concluded that event tourism can become an investment platform for communities in the transformational economy if event portfolios are embedded in destination management, if public funds are used to reduce initial risks, if private partners receive transparent rules of participation, and if the social effects of events are measured together with financial outcomes. For Ukraine, such an approach is especially significant for post-war recovery, domestic tourism development and the international visibility of local cultural and creative assets. The proposed conceptual approach provides a methodological basis for developing investment strategies that enhance the long-term competitiveness and sustainable development of event tourism destinations.<\/span><\/i><\/p>\n

Keywords<\/i><\/b>: event tourism; investment potential; transformational economy; destination; sustainable development; public-private partnership<\/span><\/i><\/p>\n

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

    \n
  1. OECD. (2026). OECD Tourism Trends and Policies 2026. OECD Publishing. https:\/\/doi.org\/10.1787\/3fd3cd75-en.<\/span><\/li>\n
  2. World Travel & Tourism Council. (2025). Travel & Tourism Economic Impact 2025: Global Trends. https:\/\/researchhub.wttc.org\/product\/travel-tourism-economic-impact-2025-global-trends.<\/span><\/li>\n
  3. UNCTAD. (2025). World Investment Report 2025: International Investment in the Digital Economy. United Nations. https:\/\/unctad.org\/publication\/world-investment-report-2025.<\/span><\/li>\n
  4. UNCTAD, & UN Tourism. (2025). Guiding Principles for Sustainable Investment in Tourism. https:\/\/doi.org\/10.18111\/9789284425389.<\/span><\/li>\n
  5. European Commission. (2025). Transition Pathway for Tourism: Taking Stock of Progress by 2024. Publications Office of the European Union. https:\/\/doi.org\/10.2873\/1096076.<\/span><\/li>\n
  6. Jung, S., Draper, J., Malek, K., Padron, T. C., & Olson, E. (2024). Bridging Theory and Practice: An Examination of How Event-Tourism Research Aligns With UN Sustainable Development Goals. Journal of Travel Research, 63(7), 1583-1605. https:\/\/doi.org\/10.1177\/00472875241231273.<\/span><\/li>\n
  7. Bakas, F., & Coetzee, W. (2025). Events and tourism. In Reference Module in Social Sciences. Elsevier. https:\/\/doi.org\/10.1016\/B978-0-443-27698-9.00040-4.<\/span><\/li>\n
  8. Zamzuri, N. H., Azizi, N. F. A., & Hanafiah, M. H. (2023). Research note: Tourism event sustainability and value creation. Journal of Convention & Event Tourism, 24(5), 501-518. https:\/\/doi.org\/10.1080\/15470148.2023.2231623.<\/span><\/li>\n
  9. Celuch, K., & Neuhofer, B. (2025). Transformative event experiences: A visual in-situ study of change. Current Issues in Tourism, 28(5), 751-772. https:\/\/doi.org\/10.1080\/13683500.2024.2309147.<\/span><\/li>\n
  10. Akhundova, A. (2024). Role of Festivals in Stimulating the Development of Event Tourism. Theoretical and Practical Research in the Economic Fields, 15(2), 277-287. https:\/\/doi.org\/10.14505\/tpref.v15.2(30).11.<\/span><\/li>\n
  11. Hu, Z., Kumar, J., & Kannam, S. (2023). Tourism Economic Impact Assessment: Literature Review Using Bibliometric Tools. International Review for Spatial Planning and Sustainable Development, 11(4), 205-223. https:\/\/doi.org\/10.14246\/irspsd.11.4_205.<\/span><\/li>\n
  12. Plz\u00e1kov\u00e1, L., & Tittelbachov\u00e1, \u0160. (2024). Methodology for Measuring the Potential of a Tourism Destination in Relation to Sustainable Local Tourism Product Development. Acta Polytechnica CTU Proceedings, 46, 94-100. https:\/\/doi.org\/10.14311\/APP.2024.46.0094.<\/span><\/li>\n
  13. Antoniou, C., Cuculiza, C., Kumar, A., & Yang, L. (2025). Seeing is believing: Tourism and foreign equity investments. Journal of Banking & Finance, 178, 107498. https:\/\/doi.org\/10.1016\/j.jbankfin.2025.107498.<\/span><\/li>\n
  14. Tomej, K., & Bilynets, I. (2024). Large-scale tourism transformations through regeneration: A living systems perspective on tourism developments in Ukraine during the war. Annals of Tourism Research, 109, 103856. https:\/\/doi.org\/10.1016\/j.annals.2024.103856.<\/span><\/li>\n
  15. Khanenko, A., & Bobko, N. (2024). Tourism and the Russian-Ukrainian war: current issues and post-war recovery prospects. Economic Analysis, 34(3), 558-567. https:\/\/doi.org\/10.35774\/econa2024.03.558.<\/span><\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received: 04 August 2026<\/span><\/strong><\/p>\n

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    Runcheva N., Babko N. (2026). Investment Potential of Event Tourism in the Conditions of a Transformational Economy. Modern Economics, 58(2026), 255-261. DOI: https:\/\/doi.org\/10.31521\/modecon.V58(2026)-32.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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    [vc_row][vc_column][vc_column_text] JEL Classification: L83; O18; R58; Z32 DOI: https:\/\/doi.org\/10.31521\/modecon.V58(2026)-32 [\/vc_column_text][vc_column_text]Runcheva Natalia, Doctor of Economics, Professor, Associate Professor of the Department of Economics, Hospitality and Tourism Business, Bogdan Khmelnitsky Melitopol State Pedagogical University, Zaporizhzhia, Ukraine ORCID: 000-0001-8645-9821 e-mail: runnata@ukr.net Babko Nataliia, PhD (Economics), Associate Professor of the Department of Economics, Hospitality and Tourism Business, Bogdan Khmelnitsky
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