The revenues from the tourism in Slovakia is under the EU average and the country should boost it. The Unicredit Bank economist Lubomir Korsnak stated in his analysis last week.
“Slovakia is country in which tourism couldn’t be viewed as the bedrock of its economy. With tourism accounting for just over 6 percent of Slovakia’s GDP, the figure is the eighth lowest in the EU in this respect,” stressed Korsnak, adding that the EU average is 10 percent.
In fact, among EU countries, only Romania did worse than Slovakia in this particular ranking. Slovakia was also ranked as 12th best in the EU in terms of natural potential. By contrast, it took a lowly 115th place among all 136 countries under review in the business environment in tourism.
“The areas in which Slovakia was found lacking primarily have to do with the how effective the country’s legal framework is in resolving disputes, the length of procedures regarding construction permits and the effect of taxation on motivation to work,” added Korsnak.
In addition, deficiencies were also detected in the importance, that government policies attribute to tourism, including as regards public expenditures, how effectively the country is promoted, the development of air transport, the availability of a qualified labour force, and the flexibility of labour law.