Economic Crisis and Tourism Development in Slovakia

Tourism has been heavily affected by the property and financial crisis. Tourist numbers are continuing to drop almost everywhere in the world. Consumers paralyzed by fear of the crisis are persistently staying at home. Companies and individual travelers considerably cut their expenses on hotel and catering services the consequences of which had serious affect on tourist industry. The global crisis also has a significant influence on Slovak economy and tourist industry. It stopped the high dynamic of development of Slovak tourism in 2006, 2007 and in the first half of the year 2008. The aim of the desk study is analyzing the influence of the global economic crisis on Slovak tourism and hotel industry.