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Topic4. The financial and commercial risks

The purpose of the lectures: Teach the object of tourist and recreational activities recreational potential, which refers to the totality of the natural, cultural - historical and socio - economic givens, creates prerequisites for organizing and conducting tourism and recreation.

Keywords: fitotsenotichnost, recreational digression,


1. Recreational capacity of the territory. Tourism and nature conservation.

2. Assessment of tourist - recreational resources.

3. Natural resource potential of the regions


Financial and commercial risks can be regarded as a special risk group based on a wide range of business risks.

Financial risks arise in the management of enterprise finance. The most common foreign exchange, interest rate and portfolio risks.

Under the foreign exchange risk refers to the risk of losses from changes in the volume of courses vneshekonomicheskoy activities deyatelnosti investment in other countries, as well as in obtaining export credits. Among them distinguish operational, translational and economic risks.

Operational foreign exchange risk can be defined as the possibility of loss or shortfall pribyli as a result of exchange rate changes and the impact of it on anticipated revenues from the hotel product sales.

Translational currency risk (it is also called balansovym) occurs in the presence of the parent company or affiliates dochernih abroad. Its source yavlyaetsya possible mismatch between assets and passivami companies are translated into national currencies. Ponizhenie exchange rate of the country of location of the branch (or subsidiary) in relation to the currency of the country where the parent company is the apparent reduction of his (or her) arrived.

Therefore, the translational currency risk arises in the following cases:

 the need for an overall assessment of the company, including its branches in other countries;

 the need for the preparation of the consolidated balance sheet;

 conversion tax in the currency of the parent company's home country.

 The economic currency risk is defined as the probability of the adverse effects of exchange rate changes on the economic situation of the enterprise.

Under the interest rate risk refers to potential losses in the event of changes in interest rates on financial resources.

There are risks associated with possible non-return of the loan amount and interest thereon, ie. E. Credit risks. Of defaults may occur for various reasons: construction in progress, changes in the market and the general economic situation, the lack of a marketing study of the investment project, extraordinary events.

For the lender it is important not only the fact of repayment of the loan principal and interest, and repayment periods. Delay timing leads to an actual reduction of profitability of credit issued, and taking into account inflation and the loss of profits and even losses.

Technical risks are accompanied by the construction of new facilities and their further exploitation. Among them are construction and maintenance. Technical risks can be an integral part of the industrial, business and investment risks.

For construction and installation include the following risks:

 loss or damage of building materials and oborudovaniya due to adverse events - natural disasters, explosion, fire, malicious acts, etc .;.

 malfunction due oshibok in the design and installation;

 physical harm personnel involved in the

construction of the facility.

Upon completion of construction of the facility and the delivery to the customer the contractor assumes the warranty to ensure its smooth operation within the warranty period. In case of major defects of the construction works or the installed equipment and the need to eliminate the contractor may incur huge losses and be unable to fulfill its obligations. This risk is the risk of default, after starting the warranty.

Commercial risks associated with the possibility nedopolucheniya profits or incurring losses in the course of trade may take the form of sleduyuschih events:

 insolvency of the buyer of the hotel, the product at the time of payment of services under the contract;

 failure of the customer to pay the services of the hotel or order previously produced accommodation services after conclusion of the contract;

 reduction in demand for hotel services on the market these services.

 Their significance in the hospitality industry is large, and you must consider them in more detail.

 The impact of market factors on the balance of commercial risk change in the hotel industry can be at a certain rassmotreno hypothetical example.

Market equilibrium in any economic model reflects a balance of power that the variables described it, do not increase or decrease with respect to absolute values ​​or their proportions. The economic model of supply and demand aims to explain the value and the number of hotel services offered on rynke these services for a certain period. Market equilibrium in this model exists when there is a tendency to izmeneniyu market price or quantity offered services clientele hotels (basic and additional). This does not mean that in an inflationary environment, the market equilibrium is not suschestvuet. In such cases, the market equilibrium point only periodically change their position. Suppose, if the hotel services market is in equilibrium, the price prozhivaniya in the number of rooms will be such that the number of bed-days, that consumers want to buy these services, tochno coincides with the amount that sellers want prodat. When prices (in particular the number of rooms of different comfort) reach equilibrium values ​​are "normalized" services in the sense that all consumers of hotel services, who want to consume (purchase) services rynochnoy price will have easy access to them. Simultaneously, all the hotel services sellers who want to sell services at a given price, easy to find buyers. Formed balance and stability in the market system hozyaystvo-

Market equilibrium - the situation on the hotel market in which there are no as excess demand and excess supply of hotel services. Consumers of hotel services can buy everything (on the basis of the list of paid and free services of a particular hotel), and the sellers of these services can sell their existing prevailing in the market prices of services.

Country risks - arise in the implementation of the entrepreneurs and investors of its activities on the territory of foreign states. Income from business can umenshitsya in case of adverse changes in the political or economic situation in the country. Loss or reduction of income occurs for various reasons, among which are:

 change the political system of the country;

 expropriation or nationalization of objects inostrannoy property;

 destruction or damage of property as a result of war and civil unrest;

 change in general civil and special types zakonodatelstva - customs, tax and others.

Political risks - is an important part chastyu country risks. Their essence lies in the possibility of receiving less income or loss of the property of a foreign entrepreneur or investor as a result of changes in the socio-political situation in the country. They can proyavitsya in the following event:

 changes in currency legislation impeding the execution of international contracts or repatriatsii foreign exchange earnings;

 change the legal framework which impede entrepreneurial activity;

 nationalization or expropriation of enterprises established with participation of foreign investors;

 amending the Arbitration Law;

 war, civil unrest, riots, entailing damage to the property interests of entrepreneurs.

Political and other country risks are accompanied by various types of entrepreneurial activity, if it takes place abroad. In this case, the political risks are an integral part of business and investment.

Risk identification. For risk assessment and decision-making sootvetstvuyuschih collected baseline information on obekte risk carrier. The main methods of obtaining baseline information should include:

 standard questionnaire;

 Review and analysis of primary documents upravleneskoy and financial reporting;

 analysis of quarterly and annual financial data


 compiling and analyzing the chart of organizational structure;

 drafting and analysis of maps of processes in the production of hotel product;

 visits of inspection services, teams, shifts and divisions of the enterprise;

 expert advice in the field of services;

 assessment documentation specialized consulting firms, academic laboratory research and development.


Control questions:

1. The development of tourism and protection of nature?

2. Tourism and nature protection.?

3. Socio - economic preconditions of tourism development


Recommended reading:


Marinin MM - Tourist formalities and security in tourism. - M .: Finance and Statistics, 2004. - 144s .: silt.

Insurance in tourism: Textbook /A.A. Gvozdenko. - M .: Aspekt Press, 2002, 254 ..

F. Kotler, Bowen J., J. Meykenz -.. Marketing. Hospitality.

Tourism. - M .: Publishing. Association "UNITY", 1998. - 787s.

Law of the Republic of Kazakhstan dated June 13, 2001 N 211 "On tourist activity in the Republic of Kazakhstan"

Alexandrova AY - International tourism: Textbook - M .: Aspekt Press, 2004. - 470 p.

I.T Balabanov Balabanov AI .. Tourism Economy. - M .: Finance and Statistics, 2000. - 290C.

Brymer RL - Fundamentals of Management in Hospitality / Trans. E.B.Tsyganova. - M .: Aspekt Press, 1995. - 154c.

Gvozdenko AA - Insurance Basics: A Textbook. - M .: Finance and Statistics, 1998.

Zorin MV - Tourism Management. Tourism as an activity. - M .: Finance and Statistics, 2001. - 288s.

Kabushkin I.I Bondarenko .. GL - Management of hotels and restaurants. - Mn .: 000 "new knowledge". 2000. - 235s.

Lesnik AL Matsitsky, Chernyshev AV Organization and management of hotel business. - M., 2000. - 265s.

Papiryan GA - Marketing in tourism. M: the Finance and statistics, 2000.-160s.

Insurance: theory, practice, international experience: the textbook for students of universities and colleges, ed. KK Zhuyrikova. - Almaty: PF "BIS", 2000

Birzhakov MB Introduction to Tourism .: Uchebnik.- 7th ed., Rev. and Sub-M.: - St. Petersburg: Nevsk.Fond- ID Gerda, 2004- 448 p.

Buzykaev AA Basics tourismology. / Univ "Turan-Astana" .- Astana, 2005.- 22 p.

Stone, P. R. (2012). Dark tourism and significant other death: Towards a model of mortality mediation. Annals of Tourism Research, 39(3), 1565-1587

Bhanumurthy K .V, Abha Mathur. Tourism Concept&Perspectives. India. http://www.academia.edu/6814940/TOURISM_CONCEPT_and_PERSPECTIVES

M.B Birzhakov, "Introduction to Tourism", M., - C-PTB. 2003

S.R Erdavletov, "Fundamentals of the geography of tourism", Almaty, 1992

A.J Alexandrov, "International tourism", M., 2004

UNWTO World Tourism Barometer (World Tourism Organization) 11 (1). January 2013. Retrieved2013-04-09.

Date: 2016-03-03; view: 171

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