8th International Thematic Monograph – Modern Management Tools and Economy of Tourism Sector in Present Era

The Role of Financial Technology in Croatia’s Tourism Sector​

Maja-Marija Prevolšek   –   Zagreb School of Economics and Management, Vukasovićeva 1, Zagreb, Croatia
Anja Tkalčević –   Zagreb School of Economics and Management, Vukasovićeva 1, Zagreb, Croatia
Gordi Sušić   –   Zagreb School of Economics and Management, Vukasovićeva 1, Zagreb, Croatia

​​DOI:    ​https://doi.org/10.31410/tmt.2023-2024.107

8th International Thematic Monograph –   Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade, 2023/2024,   Published by:  Association of Economists and Managers of the Balkans in cooperation with the Faculty of Tourism and Hospitality, Ohrid, North Macedonia;   ISSN 2683-5673,  ISBN  978-86-80194-81-3 ;  Editors:  Vuk Bevanda, associate professor, Faculty of Social Sciences, Belgrade, Serbia;   Snežana Štetić, full time professor, The College of Tourism, Belgrade, Serbia,   Printed by:  SKRIPTA International, Belgrade  
Abstract:   This study explores the role of financial technologies in the Croa­tian tourism sector, highlighting their impact on operational efficiency, tour­ist experience, sustainability and competitiveness. To shed more light on the role of FinTech, motives for its adoption, advantages and potential challenges, authors constructed and conducted a survey that was distributed to relevant tourism industry participants in Croatia. Survey-obtained data was then used to compare the results of focus participants in light of the conducted literature review. Results of a survey point to a correlation between the size of the tour­ism companies and the level of familiarity with the concept of smart tourism and the implementation of innovative solutions. Highly categorized facilities often show a greater tendency to adopt frontier technological options to meet the high expectations of their guests. The results also show that the majority of participants are planning or considering further expansions or investing in Fin­Tech solutions to remain competitive. In addition to own development and the need for continuous education, overall governmental medium-term develop­ment strategy and proper guidance are also recognized as preconditions for the industry’s sustainable future growth.​

Keywords:   Croatia’s tourism sector; Financial technology; FinTech; Smart tourism; Competitiveness

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