Analysis and Modeling of Factor Determinants for Ukraine Hotels and Tourist Sphere

Abstract

The authorities together with businesses need to create conditions for boosting the competitiveness of hotel and restaurant industry in Ukraine. This article aims at determining the influence of selected factors on the development of the hotel and tourism sector and building a model of this influence in terms of individual factor determinants. Such factors include the number of consumers of tourism services, competitive hotel and tourism enterprises, indicators of costs and profitability, socio-cultural preferences, political and legal relations, and demographic factors. By constructing a correlation matrix, an attempt was made to identify the strength of the relationship between the factors and their nature. The assessment of standardized regression coefficients made it possible to determine the contribution of each factor to the state of the hotel and tourism sector. The existence of a close relationship between socio-economic factors and the hotel and tourism sector of Ukraine is demonstrated.