The Impact of COVID-19 Crises on Accounting Entities Doing Business in the Tourism Sector
Keywords:
tourism, COVID-19 crises, financial health, sales, profit or lossAbstract
Since the spring of 2020, when the first positive case of SARS Cov-2 virus appeared in the Slovak Republic, Slovakia has already gone through two waves of the pandemic and is currently on the threshold of the third wave. Several restrictive measures, the lockdown of the economy have had a negative impact on the financial position of accounting entities. Initial forecasts predicted that the most affected sector would be the tourism (gastrosector). As we observed in our survey, these forecasts were not wrong, given that in this sector up to 73.8% of accounting entities recorded a decrease in sales in the accounting period 2020 in comparison with the previous accounting period, and more than 56% of accounting entities achieved sales lower by more than 40%. The most affected accounting entities from gastrosector were located in the districts of the Bratislava Region.References
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Berger, Z. D., Evans, N. G., Phelan, A. L., & Silverman, R. D. (2020). Covid-19: control measures must be equitable and inclusive. BMJ, 368:m1141.
Blahušiaková, M. (2020). Vplyv uzavretia ekonomiky v rámci 1. vlny epidémie COVID-19 na ekonomickú situáciu subjektov v Slovenskej republike: The Impact of Economic Lockdown Within the 1st Wave of Epidemics COVID-19 on the Economic Situation of Subjects in the Slovak Republic. AIESA – Budovanie spoločnosti založenej na vedomostiach: recenzovaný zborník - 19. medzinárodná vedecká konferencia organizovaná pod záštitou rektora Ekonomickej univerzity v Bratislave prof. Ing. Ferdinanda Daňa, PhD. a dekana Fakulty hospodárskej informatiky prof. Ing. Ivana Brezinu, CSc., 13. novembra 2020, Bratislava, 19-29.
Blahušiaková, M. (2021a). Impact of COVID-19 Crises on Accounting Entities Providing Accommodation Services in Slovakia. Proceedings. 13, Financial Management of Firms and Financial Institutions: International Scientific Conference, 7-16.
Blahušiaková, M. (2021b). Impact of COVID-19 Outbreak on Accounting Entities Providing Beverage Service Activities. Účtovníctvo a audítorstvo v procese svetovej harmonizácie: zborník z medzinárodnej vedeckej konferencie, 7.-9. septembra 2021, (Skalica, Slovensko), 14-19.
Cohen, M. J. (2020). Does the COVID-19 outbreak mark the onset of a sustainable consumption transition? Sustainability: Science, Practice and Policy, 16:1, 1-3.
Donthu, N., & Gustafsson, A. (2020). Effects of COVID-19 on business and research. Journal of Business Research, vol.117, pp. 284-289.
Finstat (2020). Analýza sektorov priamo ohrozených koronavírusom. Retrieved September 25, 2021 from
https://finstat.sk/analyzy/analyza-sektorov-priamo-ohrozenych-koronavirusom
Finstat (2021). [Online] Available at: www.finstat.sk (Accessed: July 19, 2021).
Fraccascia, B., & Alvarado, C. (2020). The Impact of Events Moved, Cancelled due to Pandemic. Retrieved from: https://www.costar.com/article/1783525953
Gallego, V., Nishiura, H., Sah, R, & Rodriguez-Morales, A. J. (2020). The COVID-19 outbreak and implications for the Tokyo 2020 Summer Olympic Games. Travel Medicine and Infectious Disease, Volume 34, 101604, https://doi.org/10.1016/j.tmaid.2020.101604.
Gomes, P. (2021). Financial and non-financial responses to the Covid-19 pandemic: insights form Portugal and lessons for future. Public Money & Management, 1-3.
Ivanov, S., & Stavrinoudis, T. A. (2018). Impacts of the refugee crisis on the hotel industry: Evidence from four Greek islands. Tourism Management, 67, 214-223.
Ižip, R. (2020). Slováci ostali doma, cestovné kancelárie majú hlavu v smútku. TREND, 29(37), 14-15.
Janko, M. (2020). Vírus vymazal tri roky prosperity. Nezamestnanosť aj HDP sa v dôsledku pandémie dostali na úrovaň roku 2017. TREND, 29(35), 66.
Kekely, F. (2020). Hotely a reštiky sa sťažujú: Ak prísne opatrenia potrvajú, finančná pomoc štátu je zbytočná. Retrieved from: https://www.startitup.sk/hotely-a-restiky-sa-stazuju-ak-prisne-opatrenia-potrvaju-finacna-pomoc-statu-je-zbytocna/
Kordošová, A. (2021). The Impact of the Coronavirus Crisis on the Recipients of the Share of the Tax Paid. Účtovníctvo a audítorstvo v procese svetovej harmonizácie: zborník z medzinárodnej vedeckej konferencie, 7.-9. septembra 2021, (Skalica, Slovensko), 68-72.
Kullová, Z. (2020). Druhý lockdown už hotelieri nezvládnu. TREND, 29(37), 22-23.
Leite, H., Hodgkinson I. R., & Gruber, T. (2020). New development: ‘Healing at a distance’ – telemedicine and COVID-19. Public Money & Management, vol.40(6), pp. 483-485.
Memon, S. U. R., Pawase, V. R., Pavase, T. R., & Soomro, M. A. (2021). Investigation of COVID-19 Impact on the Food and Beverages Industry: China and India Perspective. Foods, 10(5), 1069.
Michalková, T. (2020, April 7). Firmy už nahlasujú prepúšťanie. Pomoc vlády nepresvedčila. Retrieved September 25, 2021 from
https://ekonomika.pravda.sk/firmy-a-trhy/clanok/547973-firmy-uz-nahlasuju-prepustanie-pomoc-vlady-nepresvedcila/
Ministerstvo dopravy a výstavby SR (mindop, 2021). Schéma pomoci v cestovnom ruchu II. etapa [Online]. Available at: https://www.mindop.sk/cestovnyruch (Accessed: 16 June 2021).
Pawlicz, A. (2012). Zarza˛dzanie kryzysowe w turystyce na poziomie lokalnym na przykładzie skazenia wody morskiej w ´Swinouj´sciu w sierpniu 2010 roku [Crisis management in tourism at the local level. The case of water pollution in ´Swinouj´scie, Poland in August 2010]. International Journal of Management and Economics. 35, 157–171.
Pomoc pre gastro (2021). Gastro uprostred strategickej sezóny: Chýbajú nám hostia. Available at: https://www.pomocpregastro.sk/gastro-uprostred-strategickej-sezony-chybaju-nam-hostia/
Shafi, M., Liu, J., & Ren, W. (2020). Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan. Research in Globalization, vol.2, 100018.
Shen, H., Fu, M., Pan, H., Yu, Z., y Chen, Y. (2020). The impact of the COVID-19 Pandemic on Firm Performance. Emerging Markets Finance and Trade, vol.56(10), pp. 2213-2230.
Slašťanová, K. (2021). AKTUÁLNE: 78% Gastro prevádzok stále nedostalo podporu zo schémy pomoci pre cestovný ruch (výsledky prieskumu čerpania štátnej pomoci v gastre). Available at: https://menucka.sk/magazin/78-gastro-prevadzok-stale-nedostalo-podporu-zo-schemy-pomoci-pre-cestovny-ruch-vysledky-unikatneho-prieskumu-cerpania-statnej-pomoci-v-gastre/
TASR (2021). Prieskum: Ďalšiu vlnu koronakrízy nemusí prežiť až 52 % gastropodnikov. Available at: https://www.teraz.sk/ekonomika/prieskum-dalsiu-vlnu-koronakrizy-by/580986-clanok.html
ZMPS (2020, Marec 26). Dve tretiny malých firiem vydržia bez prijatia opatrení najviac mesiac. Retrieved September 25, 2021 from
https://www.podnikajte.sk/financie-na-podnikanie/dve-tretiny-malych-firiem-vydrzia-bez-prijatia-opatreni-najviac-mesiac
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Published
2021-12-17
