Financial and Credit Support for Investment and Innovative Developing Activities of a Tourist Enterprise

Abstract

The article presents the authors’ opinion on the acute lack of investment resources among representatives of
the tourism business. An analysis of the sources of financing for travel companies showed that the most accessible for
this area are internal sources of development. According to the results of the analysis carried out by the authors, they
are used by more than three-quarters of enterprises, while only one in four business entities uses external sources.
At the same time, the first place among the sources of financing is occupied by income from their own activities; the
second place is occupied by another internal source–the personal funds of the founders; and the third are private loans.
According to the authors, one of the main problems in the development of innovatively developing tourism enterprises
is their weak investment due to the increased risks in this area when lending, because of which commercial banks are
afraid to lend to travel companies. As a result, it was concluded that domestic commercial banks need to develop financial
services for innovatively developing tourism enterprises.