Managing Innovative Development in International Tourism through Favorable Conditions for Foreign Investment
DOI:
https://doi.org/10.15421/cims.4.292Keywords:
smart tourism, foreign investment, international tourism, artificial intelligence, sustainable tourismAbstract
Purpose. This study aims to analyze the role of information and communication technologies and innovative investment in managing the development of international tourism. It focuses on identifying tools and approaches that enable enterprises to respond effectively to evolving tourist demands and support sustainable growth. Findings. In the tourism industry, where there is a transition from traditional approaches to providing services to personalized ones, the implementation of information technologies allows satisfying the requests of any client as much as possible and with high quality. Design / Method / Approach. The article reveals the problem of the need to create and regulate foreign investment in order to manage the development of international tourism using innovations because of scientific and technological progress. Theoretical Implications. The accelerated process of restoring global indicators of international tourism after the COVID-19 pandemic is studied and the reasons for the rapid return of the industry to its previous indicators are revealed. Among the reasons, the introduction of modern information and communication technologies and the use of innovative methods of providing services are highlighted. Practical Implications. The tools that allow increasing the demand for tourism are analyzed, the main of which are: contactless payment technology, artificial intelligence, virtual and augmented reality, which accelerated the recovery processes. Originality / Value. It is proven that in order to transition from the growth paradigm to the sustainable development paradigm in the long term, only sustainable investments in the tourism sector, namely in artificial intelligence and machine learning, will allow increasing the number of tourists and their changing needs. Investments in startups (alternative housing, hotel management and hotel business, artificial intelligence and analytics, aircraft, etc.) cover various participants in distribution technology. Research Limitations / Future Research. It is proposed to attract investments for the implementation of innovative projects in tourist regions, which can become an effective tool for economic growth and a guarantee of the country's prosperity. Article Type. Analytical.
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