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International Journal of Trend in Scientific Research and Development (IJTSRD)
Special Issue on Innovative Development of Modern Research
Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470

Ways for Increasing the Financial

Competitiveness of Tourism Enterprises

Ruzibaeva Nargiza Khakimovna

Senior Lecturer, Samarkand Institute of Economics and Service, Samarkand, Uzbekistan

ABSTRACT the activities of tourism enterprises not only shape the
The article discusses the role of innovations in increasing tourism sector in the region, but also become a source of
the financial competitiveness of tourism enterprises in the income for the region and lead to the development of many
Republic of Uzbekistan, the practical significance of related sectors. Many countries create special national
measures taken by the state to ensure the competitiveness organizations to promote various innovations in tourism
of tourism enterprises in various crisis situations. Proposals activities and understand that this is an innovative activity
and recommendations are based on the analysis of the that is a key factor in economic growth.
potential of tourism enterprises in Uzbekistan and some
Such organizations also exist in the United Kingdom, Spain,
foreign countries.
Poland and other countries, but the example of Finland,

KEYWORDS: innovation, innovative active enterprises, where the state organization of the Tourism Council was one
competitiveness, financial stability, tourism enterprise, tourism of the first to use innovative information technologies in the
development of tourism [2]. Since 2001, Finland has been
One of the main goals of tourism enterprises operating in promoting the national database as a service. This database
Uzbekistan in a modern market economy is not only to contains files containing information about attractions,
increase the competitiveness of their products, but also to accommodation, events, trips and excursions, telephone
improve the process of their creation. However, this goal can numbers of tourist enterprises, etc. The introduced
be achieved only by tourism enterprises with a high level of innovations led to the development of partnerships and
innovation activity. One of the factors that can increase the opened up prospects for the widespread dissemination of
financial competitiveness of tourism enterprises is the active their information across the world’s tourist regions, and by
and effective use of innovative production technologies that the middle of the first decade of the new century, Finland had
lead to the formation of scientific, technical, production, become one of Europe’s most popular tourist destinations.
financial, social activities in the new institutional Currently, the recovery in tourism will not begin until there
environment. is an opportunity to successfully lift travel restrictions.
An indicator of the application of innovations in the According to the World Tourism Organization, as of May 29,
enterprise is called innovation activity. Innovative activity is 2020, travel restrictions are in place in all tourist
the creative activity (creative energy) of producers of goods destinations (217 tourist destinations in the world) due to
or services, expressed in the process of achieving on-demand the COVID-19 pandemic, while 75% of tourist destinations
innovation growth in technical and technological, economic, remain completely closed to international tourism [3].
organizational, managerial, social, psychological and other Despite the best efforts of world leaders to find ways to
indicators of goods or services offered to the market in a minimize the economic impact of the COVID-19 pandemic,
competitive period should be understood. Innovative active
the tourism industry will not recover until the emergency
enterprises are enterprises that produce and implement new caused by the spread of the coronavirus is brought under
or improved products, technological processes or other types control to safely remove tourism restrictions. The longer the
of innovative activities. Innovation is understood as a factor threat to public health and the crisis associated with it, the
in increasing competitiveness, as the end result of innovative harder it is for businesses, especially small and medium-
activities carried out in the form of new or improved sized enterprises, which form a major part of the tourism
products. ecosystem, to survive, and the more problems and challenges
Competitiveness assessment is a complex process, says A. their workers face.
Flit [1], covering a variety of elements, some of which are As a result, tourism-dependent businesses are finding it
difficult or impossible to measure. Even the first stage of increasingly difficult to maintain their financial stability and
evaluation - identifying competitive factors - can be very feel the need for some support from the government to
problematic.
prevent mass closures and job losses. Such support may be
The tourism industry is one of the fastest growing, fastest based on existing measures, including preferential lending
growing industries and requires constant innovation at and deferred loan payments and tax compliance, and / or
various levels. The financial and economic formation of each additional tools such as redistribution of forces and funds or
region depends directly on the innovative activity in its liquidity support mentioned above. Finally, the creation of
territory, the innovative potential of the region, which incentives for the development of domestic tourism can
consists of a set of intellectual, material, technical, create the conditions for the resumption of tourism
information, monetary and other resources used for its enterprises in the early stages, when international tourism is
formation at any time. An important factor that necessitates limited.
the introduction of innovations in the field of tourism is that

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