Possibilities for improvement of profitability of enterprises in tourism industry in the Republic of Macedonia

Petroska Angelovska, Neda and Takovska, Marija and Serafimova, Mimoza (2017) Possibilities for improvement of profitability of enterprises in tourism industry in the Republic of Macedonia. Economic Development, Journal of the Institute of Economics - Skopje, 19 (3/2017). pp. 51-60. ISSN 1857-7741

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POSSIBILITIES FOR IMPROVEMENT OF PROFITABILITY OF ENTERPRISES IN TOURISM INDUSTRY IN THE REPUBLIC OF MACEDONIA.pdf

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Abstract

This paper treats issues related to profitability of enterprises in tourism industry in the Republic of Macedonia. The aim is to calculate financial ratios for assessment of profitability level in tourism industry and to analyze them. Profitability is very important in determining the success or failure of a business for enterprises at whole, as well as for the enterprises in tourism industry. Higher values of profitability ratios indicates that operation of the enterprise is more efficient. It is obvious that profitability depends on many factors as: size of the enterprise, experience in the business, it’s debts, leverage level, working capital utilization, inventory etc. The trend of these factors can serve as a guideline for planning of the increased workload or additional capital investment. Financial analyze from theoretical and practical aspect identifies many indicators for measurement of enterprise profitability. In that context, for the aim of this paper key ratios of profitability are estimated for enterprises in Macedonian tourism industry.Key words: profitability, tourism industry, financial statements, enterprises, Republic of Macedonia. JEL Classification: M21; G32;Z3

Item Type: Article
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Tourism and Business Logistics
Depositing User: Mimoza Serafimova
Date Deposited: 07 Feb 2018 14:48
Last Modified: 07 Feb 2018 14:48
URI: http://eprints.ugd.edu.mk/id/eprint/19388

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