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The Romanian tourism industry during the financial crisis. An investors’ view  [PDF]
Sumedrea, S.
Bulletin of the Transilvania University of Brasov. Series V : Economic Sciences , 2010,
Abstract: All over the world, investors seek the best placement of their money. They want high earnings, good liquidity, efficient protection of their investments and a favourable fiscal system. Under crisis conditions, they tend to be more vigilant and invest more carefully. The paper will focus on presenting the evolution of tourism industry in Romania and EU during the financial crisis and the investors’ perception regarding the listed companies on the Romanian capital market.
Dynamics of Romanian Tourism in European Tourism in the Global Crisis. Facts and Perspectives
Laura Olteanu,Krajnik Izabella
Acta Universitatis Danubius : Oeconomica , 2011,
Abstract: Development of tourism as part of the service activity contributes to the development ofnational economy and hence to the development of European tourism. If tourist industry can cover asignificant share of GDP, can cover and reduce unemployment by providing jobs in this field.Economic and financial crisis influences tourism and consumer behavior of tourism services. Thedynamics of Romanian tourism in European tourism in the global crisis - facts and perspectivesprovide a comparative image of tourism in Romania among other European countries, giving anoverview of the indicators analyzed in the perspective of marketing research. Tourism activity shouldbe followed not only in terms of existing realities, but also in terms of real opportunities that canprovide an insight into the field. To know our direction we need to know our coordinates and ourpotentials. Policies and strategies applied may also determine the future development of tourism.
Gabriela STANCIULESCU,Ionela Cristina MICU
Revista de Turism : Studii si Cercetari in Turism , 2009,
Abstract: The purpose of this study is to make a short presentation of the Romanian tourism in the context of the global economic crisis, highlighting the main data about inbound and outbound tourism. Due to the current global crisis, Romanian tourism disposes of two main options: to ripen or to run low. The empirical results will show the connection between Romanian tourism and the global economic crisis and shall state precisely the decrease or increase for the indicators between 2000 and 2007. In 2007, the year when Romania joined the European Union and when all stipulations regarding free travelling for people who travel in other communitarian countries were passed, Romanian tourists increased their interest in travelling abroad. This also brought to an increased number of persons visiting other countries. The economic crisis might be a chance for Romanian tourism to raise the bid as in such periods tourists usually look for close destinations, developing the incoming indicator that was very low during the last few years. Romania's international touristic feed is characterized by an evolution reflecting the various changes and transformations from the political, economic, and social points of view. The drawn conclusions prove the fact that both the global heating and the global financial crisis take place in the same time and thus we must take actions in order to improve Romanian tourism.
Romanian Public Expenditures Policy during the Economic Crisis  [PDF]
Anca-?tefania SAVA
Annals of Dun?rea de Jos University. Fascicle I : Economics and Applied Informatics , 2011,
Abstract: The aim of this paper is to discuss the Romanian public expenditures policy promoted in the context of the economic and financial crisis. Firstly, we present a brief introduction on the effects of public expenditures policy to economic growth and the role of automatic stabilizers in times of economic recessions. Secondly, the paper analyzes the evolution of current and capital public expenditures before and during the economic and financial crisis, according to which unproductive spending prevailed, in detriment of productive investments which can stimulate the economic recovery.
Quality strategies implemented within the tourism agency Perfect Tour
Madar, A.,Neac?u, A.,B?ltescu, C.,Bo?cor, D.
Bulletin of the Transilvania University of Brasov. Series V : Economic Sciences , 2012,
Abstract: The paper presents the quality strategies adopted by the tourism agency Perfect Tour. The most important advantages of the Romanian agency in comparison with its competitors are: the focus on high quality services, cooperation with other international agencies, entering new fields like medical tourism and sole representative of Disneyland Paris. The strategies adopted explain the good financial results even in the period of crisis.
Elena Chiril?-Donciu
CES Working Papers , 2012,
Abstract: A distinctive characteristic of The Global Economy over the last few decades has been the rising rate and the impressive increase in the Foreign Direct Investment (FDI globally). Due to the potential role that foreign direct investments may play in accelerating the growth rate and re-shaping the economy, many developing countries are seeking such types of investments that can multiply the efforts being made towards the growth of their economy. The purpose of this research is to analyze the flows of foreign direct investments in Romania between 2003 and 2010. The results of the research highlight the negative balance between the trade balance and the enterprises with FDI in 2007-2010, due to the financial crisis, to the fragile budget balance, due to the low competitiveness of the imports, the low quality of the Romanian products and the macroeconomic risk determined by the rate of inflation, the unemployment and the instability in the exchange rate.
Romanian Tourism Facing Labour Shortage
Cristina Simon,Dan Popescu,Iulia Chivu
Acta Universitatis Danubius : Oeconomica , 2008,
Abstract: The purpose of this paper is to present the main tendencies in the Romanian tourism and their impact on the labour market. The first partof the paper presents the main tendencies in travel and tourism sector. The second part of the paper focuses on the challenges of the labour market inthe hotel sector, highlighting essential aspect related to the declining of population, shortage of the workforce, emigration, financial compensations.The final part exposes few ideas and possible suggestions that can be applied into the travel and tourism sector in order to better manage the multipledimensions of growth.
Aurel Mihu?
Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice , 2012,
Abstract: European economy still faces today, one of the worst economic and financial crisis since the Second World War. Economic and financial crisis has spread worldwide with maximum speed, the economies of all Member States of the European Union encountering serious difficulties, both in the banking system and real economy. Romanian economic crisis started in 2008 and the uncertain deadline, is a matter of concern for many people. It is true that today we are witnessing the worst crisis in 80 years. We have an official explanation of the crisis, provided by public institutions, that the problem stems from inappropriate behavior of economic agents: selfishness, greed, speculation and market unable to function smoothly, ensuring proper allocation of resources: information asymmetry, liquidity trap , deflation, etc.On the other hand, most researchers, members of the academic, and private sector analysts argue that state intervention just planted seeds of financial turmoil that cross the present. The recipe prescribed by the authorities can result in mitigation of economic difficulties but, in contrary to their aggravation. The economic crisis is the result of several factors, which mainly include monetary policy errors, distorted economic incentives and pathology of the banking and financial regulatory policy.This paper is to highlight what triggered today's crisis in the Romanian economy, hoping to find a remedy to the problems of the economic, social and political that we face.
Cristina Ciumas,Ioan Nistor,Ecaterina Cumpanasu,Viorela-Ligia Vaidean
Annals of the University of Oradea : Economic Science , 2009,
Abstract: The global financial and economic crisis is felt in almost all the companies that operate on the European financial and insurance markets. The European insurance and re-insurance industry would register a significant decrease of the investments and a redu
Shifting investments strategy from equity funds to money market funds – the case of Romanian open - end fund market during the financial crisis
Radu, I.,Sava, C. C.
Bulletin of the Transilvania University of Brasov. Series V : Economic Sciences , 2012,
Abstract: Mutual funds are one of the key suppliers of liquidity in Romanian capital market. This paper uses quarterly data on Romanian open-end funds starting with 2006 until 2010. We find that significant negative flows (outflows) were registered beginning with the end of 2007 (equity funds), during 2008 (equity funds, balanced funds, other funds and bond funds in the last 2 quarters of the year) and from 2009 to 2010 (in the case of money market funds). There is evidence that the changing market conditions attract differently the incoming flows in these mutual funds. This is the reason why such perturbations affect investors’ confidence for these investment vehicles and impose the reorientation of the investment funds and of their investors to other alternatives in order to preserve their capital.
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