Financing of Rural Tourism in Romania, Serbia and Montenegro in the Period of Integration into the European Union

Radović, Gordana and Vuković, Predrag and Drăcea, Raluca Mihaela and Zejak, Dejan (2024) Financing of Rural Tourism in Romania, Serbia and Montenegro in the Period of Integration into the European Union. In: Proceedings of the International Conference on Business Excellence (ICBE 2024). Bucharest University of Economic Studies, Bucharest, Romania, pp. 2664-2684. ISBN 2558-9652

Text Radović, Vuković, Dracea, Zejak - ICBE (2024).pdf - Published Version Available under License Creative Commons Attribution Non-commercial No Derivatives. Download (6MB)

Abstract

Rural tourism, viewed from the aspect of agricultural farms, provides additional income, enables the creation of new jobs, but also provides a market for the placement of agricultural products. Adequate sources of financing are needed, which would enable the development of this activity, significant for agricultural farms, the local rural economy, but also for the entire country. In the section dedicated to relevant sources from the literature, the views of the cited authors point to the conclusion that the growth of rural tourism requires a strategy, which should be interdisciplinary, as well as adequate means of financing. The purpose of the paper is to present the sources of financing rural tourism in the period of integration into the European Union (pre-accession period) in Romania, Serbia and Montenegro. The pre-accession period for EU membership is still ongoing in Serbia and Montenegro, so the final effects of these funds will only be seen in the future. To answer the research question formulated: "How do the sources and methods of financing rural tourism vary in Romania, Serbia, and Montenegro during the period of integration into the European Union, and what is the impact of these differences on the development and sustainability of rural tourism in each country?", the authors use descriptive and desk research method, like us, methods of analysis and synthesis. The authors suggest that Romania has effectively utilized EU pre-accession financial tools to foster growth in this sector, indicating that its approach could serve as a model for Serbia and Montenegro.

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