CONSIDERATIONS REGARDING THE IMPACT OF THE COVID-19 PANDEMICS OVER THE FINANCIAL PERFORMANCE AT THE LEVEL OF THE TOURISM COMPANIES OPERATING IN CENTRAL AND EASTERN EUROPE
Laurentiu DROJ1, Gabriela DROJ2
1University of Oradea, Faculty of Economics, Finance and Accounting Department, Oradea, Romania
2University of Oradea, Faculty of Construction, Cadaster and Architecture, Oradea, Romania
Abstract: The tourism sector is one of the most dynamic economic sectors in Romania contributing with 6.3% in the number of workplaces and reaching 5.3% from the total GDP. The impact of the COVID-19 pandemic over this sector has been catastrophic. The goal of the proposed article is to perform a brief financial assessment of the companies operating in the tourism sector, located Romania, Croatia, Hungary and Slovenia, by using financial information collected from Amadeus database. The macroeconomic data was collected through Statista and the financial information used in the study is based on the financial reporting data for the years 2016-2020 processed through Amadeus data base. Based on both sets of data the current paper will attempt to analyze the financial information (ROE, ROA, annual return, evolution of cash-flow and number of employees) and determine if a link can be established between the evolution of the financial performance of the selected companies and the COVID-19 pandemics effects over the tourism sector. These companies were selected especially since they are extremely affected by the effects of COVID19 and therefore further research can be performed in the following years.
Keywords: financial analysis; financial results; ROE, ROA; Romania, Croatia, Slovenia, Hungary; COVID19; tourism.
