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National Interests: Priorities and Security
 

On bankruptcy of tour operators in Russia: possible causes and consequences

Vol. 11, Iss. 30, AUGUST 2015

PDF  Article PDF Version

Received: 8 April 2015

Received in revised form: 8 June 2015

Accepted: 16 June 2015

Available online: 28 August 2015

Subject Heading: ECONOMIC SECURITY

JEL Classification: 

Pages: 27-37

Makeeva D.R. Moscow Region University of Technology, Korolev, Moscow Oblast, Russian Federation
din-mak@yandex.ru

Pereyaslavskii V.I. Moscow Region University of Technology, Korolev, Moscow Oblast, Russian Federation
pevit@yandex.ru

Importance The article reviews bankruptcy of tour operators in Russia, and how those bankruptcies have influenced the further development of the tourism market and national economy.
     Objectives The research analyzes instances of bankruptcy and identifies possible causes of the Russian tour operators' bankruptcies and other related factors. For this, we address the following tasks: studying legal documents governing financial aspects of tour operators' activities, collecting data on tour operators' activities from publicly available sources, using those data to determine tour operators' proclivity for insolvency.
     Methods The research relies upon a comparative analysis, formal and legislative, systems and logic, mathematic and statistical methods.
     Results We have analyzed bankruptcies of the Russian tour operators for the recent several years and provide a summary of their operations. We have studied how the factors of their operations may influence possible insolvency of tour operators.
     Conclusions and Relevance Today's tourists should not rely upon data of the Federal Agency for Tourism and the Uniform Federal Register of the Tour Operators only. The article may prove useful for those who follow the main trends in the development and condition of Russia's tourism market. As the research shows, the Government and society should tighten control over tour operators and formulate a policy for preventing bankruptcies of tour operators in the Russian tourism market.

Keywords: tourism, bankruptcy, State regulation

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