The necessity of financial aid for the touristic sector

Transcription

1 RESEARCH REGARDING THE LINK BETWEEN TOURISM AND BANKING SECTOR Condratov Iulian Faculty of Economics and Public Administration, "Stefan cel Mare" University of Suceava, 9- Universitatii Street, , Suceava, Romania, Mobil: , Hapenciuc Valentin Cristian Faculty of Economics and Public Administration, "Stefan cel Mare" University of Suceava, 9- Universitatii Street, , Suceava, Romania, Mobil: , Abstract: The bank services and the touristic ones are and must be tightly connected in order to offer the maximum comfort to the tourists. The concrete ways of cooperation are diversified and continually increasing in number. In a world where services have a growing share in total transactions bank and touristic services must fortify their position. The systematically vision of Romanian tourism s development strategy, in the new context of global and European s trends, have put into evidence the fact that tourism will become a high priority industry and its development is directly influenced by the other social and economic industries and sectors. As a growing economic branch, a main priority, in the present and future development of tourist sector, on both perspective: globally and locally, is to study this process in order to find out major factors of influence which could have a beneficial role or on the contrary, regarding the dynamic of this economic sector. Key words: touristic sector, bank s strategy, statistical research. The necessity of financial aid for the touristic sector The reintegration of Romanian tourism in the international tourism s contest, at a global and continental level, the maintaining at the same level with the touristic market demand it must become not a momentarily state of economic development option but a firm action method, well oriented, that will allow the long term consolidation of this industry, named as the smokeless industry. The touristic sector is a consumer of cultural and natural resources, of direct and indirect services, being at the same time an in-house service generator. At the level of the Suceava County there is a multitude of rich zones in natural and antropic resources therefore the touristic development could attract the national and international touristic fluxes and could lead to the appearance and development of localities as holiday resorts. The share of touristic activity which could contribute to the general economic development of a country reveal the fact that tourism could become a dynamic factor in the global economic system. This implies that the specific demands are fulfilled, regarding technologies, products and services which are made in different economic sectors. The integration of the Romanian tourism on the European market could be made by aligning the touristic units to the standards and norms of classification applied at the international level. From this point of view it is necessary to modernize the touristic accommodation structures. This requires an existing space and equipment that is necessary to assure the touristic conditions of relaxation, comfort and hygiene. It is very important: the size of rooms, sanitary, the furniture endowment, and the functioning hygienic installations. The accommodation units must be personalized in order to have some aesthetic-ambient identity. The investment and international touristic integration phenomenon is a direct result of the phenomenon s trans sector characteristic and touristic product, which are the complex expression of many industrial and economic sectors contribution to actual existence and dynamic in the conditions of economic recession period, the capital markets display a certain reserve concerning the investments in the touristic sectors, which could register smaller demand for certain periods. The relationship between banks and touristic units study case of Suceava County This research aims to discover the way two major and high priority sectors of the Romanian economy interacts, more precisely with the touristic and banking sectors. A prime aspect of this analysis is represented by the investment behavior characteristics of economic agents from the touristic sector having as background the integration of our country in the European Union and the legislative harmonization for touristic sector at the European standards. The selection of financial resources represents an essential aspect of the management activity for every economic agent and the way they choose to make this selection is an issue that can be studied. In order to accomplish this general objective we can underline the following aspects: The establishment of the period of the last major capital investment in touristic units. 757

2 The underlinement of the economic agent s perception regarding the necessity of new investments for their touristic unit s modernization. If this necessity is confirmed then it is important to find out what kind of financial resources will be used by the agents in this activity. In the event of choosing a bank credit as main financial source for such investment projects I consider significant to underline the most important criterions to make a decision about a bank product. Underscoring the general relation between bank and touristic unit. The determination of the satisfying level of touristic units regarding the bank implication in promoting new products which correspond to the needs of long term financial investments of touristic units. On the other hand I was preoccupied to make out an evaluation of the way in which the Romanian banking sector tries to sustain the touristic sector progress, especially in Suceava County, through specialized products and services. It is well known that the Romanian banking sector had a remarkable development in the past decade, the credit activity was mainly oriented to precise economic activities. Continuing my previous argument, I have tried to determine the degree to which bank units in Suceava consider the touristic sector as a priority in their development of strategies of new bank products and services. So, it is essential to underline the objectives of this analysis: The determination of the touristic sector position in the hierarchy of priorities of bank units from Suceava. The determination of the fundamental characteristics of bank products/services on the market (or in plan to be introduced in a nearby period of time), oriented especially to touristic sector. Because this analysis contains two economic sectors, it was necessary to delimit two statistical collectivities. First collectivity is made of the total of touristic units which are localized in Suceava County range. The necessary statistics were found in the Touristic Breviary of Suceava County, 2004 edition. Table 1: Structures of tourists reception with functions of tourists accommodation by category of comfort in 2004 Total Categories of comfort 5 stars 4 stars 3 stars 2 stars 1 star Not classified Total Hotels Hotels for youth Hostels Motels Touristic inns Touristic villas Touristic chalets Camping School and pre-school champs Urban touristic boarding houses Rural touristic boarding houses Touristic boarding houses Touristic halting places Source: Touristic Breviary of Suceava County, 2004, INS 758

3 The territorial disposer (Suceava County area) of all 143 touristic units, the limitation of financial and time resources make impossible the carrying out of a total research, so I have applied to a statistical inquiry using questionnaires for a representative sample made of from 30 units (approximately 20% from total collectivity). I have preserved the ponders founded at general collectivity level regarding the structures of touristic reception. The second collectivity that was analyzed is made of bank units amount working in Suceava County, exactly, this collectivity contained, at the research moment, 14 units. Concerning the research objectives, for both collectivities, this was transposed in questions contained in two questionnaires. The responses gathered using questionnaires was organized in the period July 3-9, General conclusion of the study. Proposals Regarding the study of the bank sector that promotes tourist development in Bucovina we can underline some general conclusions. The tourism in Bucovina undergoes a period of development, a statement based on the growing trends of the main indicators expressing the accommodation capacities of the Suceava County. The development we have identified is based, mainly, on the financial efforts of the entrepreneurs. According to our study more than half of the touristic entrepreneurs based their investment process on auto financing during the last five years. Count 12,5 10,0 7,5 5,0 The main resource for investment project Auto financing Bank credit Another source 2,5 0,0 1-3 years 3-10 years The touristic units age over 10 years Figure 1. Selection of financial resources in corellation with the touristic units age This situation maybe should change in order to realize a sustainable development in the tourism from this area, maybe a closer collaboration among the Romanian economic sectors would be appropriate, and we mean of course the relation between the bank and its client - a touristic unit. As we could determine by questioning the bank units in Suceava only three of them have found desirable to launch a product addressing to the touristic agencies, all this in the context of an unanimous statement that the sector of tourism is part of their strategy. The main reasons bankers call down the weak presence of bank products on the market destined mainly to the touristic sector, are as follows: the low dimension of the touristic sector at present, the complex procedure of implementing a new bank product, the desire to simplify the portfolio of services/products managed by the bank. 759

4 40% 50% The low dimension of the touristic sector at present 10% Figure 2. The main reasons for the weak presence of bank products dedicated mainly to the touristic sector This state of fact shows premises to turn up. Five out of nine bank units in which it was known at the time of the survey about the possibility of offering some new products/services supporting the investment in tourism have declared the existence of this kind of projects. We refer to more than 50% of the bank ks which means additional support for the touristic units and, at the same time, for the Romanian touristic sector as a whole and part of the European Union framework. And the market of this sort of products seemingly exists. 90% of the touristic units included in the survey admit the necessity of new investments and one third of them have planned as the main source of investment the bank loan. Still, these touristic units have some expectations from the bank and from this we can underline the followings: a cheaper loan, the creation of new products/ser ervices addressed to them, aspect put into light by 46% of the questioned units, improvement of the bank consultancy offered to the touristic agencies. Some of these issues had been anticipa ated by the banks and their strategies in issuing new produc ucts looking to attract new clients from the touristic sector by offering attractive loans to agencies, but attention is paid in equal measure to facilities regarding the credit s documentation and term. 22% 11% 34% Cost 33% Maturity Figure 3. The main benefits of the future products 760

5 Also, bankers have taken into account some other ways of improving their offer, such as: A correlation between credit reimbursement and the seasonality of the touristic activity, Accepting to offer the credit without material warranties. As an overall conclusion this study highlighted the fact that measures are being taken on both sides in realizing a fruitful partnership, and the crystallization of a long term relation client (touristic unit) bank. Bibliography: 1. Cosmescu I., Turismul fenomen complex contemporan, Editura Economică, Bucureşti, 1998, p Dumitru N., ContribuŃia turismului la creşterea economică, Turismul la începutul mileniului III, Sedcom Libris, Iaşi, 2006, p Hapenciuc C. V., Cercetare statistică în turism, Editura Didactică şi Pedagogică, Bucureşti, 2003, p Lăzărescu V., Băncile comerciale în economia de piańa din România, Editura Agora, Bacău, 1998, p Manole V., Firma si banca, Editura Tribuna Economica Bucureşti, 1999, p Nedelea Al., Politici de marketing în turism, Editura Economică, Bucureşti, 2003, p Negrea Al., ImplicaŃii financiar valutare privind redresarea turismului românesc, Ovidius University Press, 2002, p *** Breviarul turistic al judeńului Suceava, DirecŃia JudeŃeana de Statistica Suceava,