Sitemap

Zafiris Lampadaridis, President Of The FIC Tourism & Hospitality Committee (Hyatt Regency Belgrade (BMP a.d.))

Tourism Development Must Be Accelerated

The establishment of the FIC Tourism & Hospitality Committee comes at a critical juncture for rethinking the governance of tourism and elevating tourism’s visibility. It is essential to increase the sector’s resilience to shocks and raise broader awareness of its importance

The past two years have shown how important tourism is as an economic branch, both globally and in Serbia. COVID-19 brought the world to a standstill, dealing a hard blow to the tourism and hospitality sector. Fortunately, the results from 2022 indicate that the future outlook is positive and that our sector is again showing its resilience and ability to bounce back.

While government support has been instrumental throughout the crisis, swift recovery will only be possible if the private and public sectors work together and provide clear and consistent rules. In this sense, raising tourism’s visibility beyond the sector is extremely important, helping to position it as an essential pillar of national economic growth and development. The establishment of the FIC Tourism & Hospitality Committee comes at a moment when it is crucial to rethink tourism governance and elevate tourism’s visibility. Increasing the sector’s resilience to shocks is necessary, as is raising broader awareness of its importance.

On that journey, it is essential to secure more flexibility to accommodate the seasonality needs of the industry; to enhance mechanisms for avoiding the grey economy; to improve cost streamlining in line with the main regional competitors, and to improve the investment environment. Furthermore, the FIC’s T&H Committee will be a responsible and reliable partner to the Government and domestic and international institutions and organisations in creating such a business environment that will enable the further competitiveness of Serbian tourism.

Serbia, especially Belgrade, has become an appealing investment destination, attracting major players in the international hotel industry

What is the current status of investments in tourism? According to the WTTC, global capital investment in tourism & hospitality fell by 30% in 2020. The decline in investments continued in 2021. Fortunately, this drop did not follow a decrease in the number of visitors. Tourism and hospitality investment projects are subject to careful and long planning, because they are huge investments in most cases. The g

od news about the recovery of tourism in 2022 positively influenced the continuation of capital investments worldwide. The extent to which rising inflation and the energy crisis will impact further investment activity remains to be seen. In the meantime, Serbia should further develop an efficient, transparent and predictable tourism investment framework to improve its competitiveness in the long run. Serbia, especially Belgrade, has become an appealing investment destination, attracting major players in the international hotel industry. In the last two years, in Belgrade alone, 15 new hotels of different categories and capacities have opened. Some 5-star luxury brands are in the pipeline and planning to build in the coming period. Besides this, several locally-owned hotels are under construction. Although that is very encouraging and promising, the pace must be accelerated. It is essential to improve the regulatory framework and to understand key trends, priorities, and related opportunities to unlock the full growth potential of Serbia’s tourism & hospitality sector in the years to come.

CorD Recommends

More...

Prof. Dr. Ioanna Batsialou, Director and Owner of Ioanna Regen Polyclinic

Sun YES, Ageing NO

Despite the common belief that medical aesthetic treatments are only performed in winter, our need for care is much greater during the summer, says...

Peter Novak, Managing Director at Kolektor Etra

Transformers for the Most Demanding Consumers

Ljubljana-based Kolektor Etra has a tradition of producing power transformers that dates back over 90 years. It is present with its products in more...

Danijela Bojović, Project and Real Estate Manager, Napred

Napred: Synonymous with Progress

Over the past 75 years, Belgrade-based company Napred has established a formidable presence in 10 countries across three continents. This company has consistently emerged...

Djordje Djokic, Senior Partner, Djokic + Partners

Building a Brand Through Quality

Djokic + Partners is considered one of the top law firms in the banking and financial sectors due to its profound understanding of business...

News

Ariston Breaks Ground on €75 Million Factory in Niš, Serbia

Italian company Ariston has initiated the construction of a new factory in Niš, Serbia, with a planned investment of...

Serbian Women’s Volleyball Team Awarded Diplomatic Passports

Members of the Serbian women's volleyball team were awarded diplomatic passports as goodwill ambassadors, announced the Serbian government.  Addressing the...

EU Council Lifts Visa Restrictions for Serbian Passport Holders from Kosovo*

The Council of the European Union has adopted a regulation ensuring that the entire Western Balkans region is subject...

Fiat Grande Panda Production Kicks Off in Kragujevac

In a landmark event for Serbia's automotive industry, Stellantis has commenced trial production of the electric Fiat Grande Panda...

EU and Serbia Sign Memorandum on Strategic Partnership for Sustainable Raw Materials

In a significant step towards enhancing cooperation in sustainable raw materials, battery production, and electric vehicles, the European Union...

EU and Serbia Sign Memorandum on Strategic Partnership for Sustainable Raw Materials

In a significant step towards enhancing cooperation in sustainable raw materials, battery production, and electric vehicles, the European Union...

Biden Ends Re-Election Bid, Backs Harris as Democratic Nominee

President Joe Biden has ended his re-election campaign, endorsing Vice President Kamala Harris to succeed him, after many Democrats...

Andrej Plenković Re-Elected as HDZ Leader with Overwhelming Majority

Andrej Plenković has secured another term as the leader of the Croatian Democratic Union (HDZ), winning 84,786 votes in...

Serbia and Egypt Sign Landmark Free Trade Agreement

In a significant move to bolster economic ties, Serbia and Egypt have signed a Free Trade Agreement along with...

United States Adds $18 Million In New Funds To Development Partnership With Serbia

Today, the United States Government, through the United States Agency for International Development (USAID), announced an additional $18 million...

EU and Serbia Sign Memorandum on Strategic Partnership for Sustainable Raw Materials

In a significant step towards enhancing cooperation in sustainable raw materials, battery production, and electric vehicles, the European Union...

Biden Ends Re-Election Bid, Backs Harris as Democratic Nominee

President Joe Biden has ended his re-election campaign, endorsing Vice President Kamala Harris to succeed him, after many Democrats...

Andrej Plenković Re-Elected as HDZ Leader with Overwhelming Majority

Andrej Plenković has secured another term as the leader of the Croatian Democratic Union (HDZ), winning 84,786 votes in...

Serbia and Egypt Sign Landmark Free Trade Agreement

In a significant move to bolster economic ties, Serbia and Egypt have signed a Free Trade Agreement along with...

United States Adds $18 Million In New Funds To Development Partnership With Serbia

Today, the United States Government, through the United States Agency for International Development (USAID), announced an additional $18 million...