THE ANALYSIS OF INVESTMENT INCOME IN THE DEVELOPMENT OF THE RECREATION AND TOURISM SECTOR OF THE WESTERN REGION OF UKRAINE

Abstract

The article deals with the development of the recreation and tourism sector in the Western region of Ukraine. Domestic investments in the development of the recreation and tourism sector of Ukraine over the past 20 years are analyzed, respectively, tended to fluctuate slightly, and reduced during the epidemic COVID 19. Accordingly, sales by travel agencies in the second quarter of 2020 decreased by 95.8% compared to the second quarter of 2019, hotel services decreased by 84.1%. Ukraine is one of those countries that have significant but unrealized tourism potential. It was revealed that a number of positive and negative tendencies, which are decreasing on the one hand, and on the other hand, create a favorable basis for investors in the recreational and tourist sphere of the region. The structure of capital investments in the recreation and tourism sector of the Western region is studied. Of these, the largest share was invested in additional transport services and ancillary operations, investments in the activities of temporary accommodation facilities, in the field of culture and sports, recreation and entertainment. At the same time, the main part of investments, except for the sphere of art and museum activities, took place at the expense of own funds of enterprises. It is proved that the structural shifts of the objects of this sphere, in particular, its material and technical base, have a significant impact on the intensification of investment in the recreational and tourist sphere of the region. The current investment proposals developed by the regional state administrations of the regions of the Western region for the development of the recreational and tourist sphere of the region are submitted. An integrated approach to the formation and implementation of state policy in the field of tourism and resorts is defined, which provides for the combination and intersectoral coordination of the components of tourism and resorts: tourism activities (tour operators, travel agents; excursion services); accommodation services (collective accommodation; individual accommodation); transport (air; rail; road; water: sea and river; city public); tourist information centers; museums and galleries; theaters, arenas, clubs; congress halls and conference centers; catering establishments; sports arenas; shopping malls, shops, souvenir shops; IT companies; insurance companies; media companies.