THE ROLE OF INNOVATION IN THE DEVELOPMENT OF TOURISM BUSINESS

Rzayeva I.

70th International Scientific Conference on Economic and Social Development , vol.1, no.1, pp.894-902, 2021 (Peer-Reviewed Journal)

Qısa məlumat

Accelerating globalization processes in the modern economy contribute to increased competition in the market. Therefore, companies, in order to effectively develop their activities, must form and strengthen competitive advantages. Currently, the main source of maintaining the competitiveness of companies is innovation and scientific and technological advances, which have become the main driving force of economic and social development. The development of new products and services allows enterprises to modernize production, maintain a leading position in the market, achieve financial stability and capture new markets. The tourism business is innovatively capacious, due to the fact that in this area it is not goods that provide communication between producers and consumers of tourism services, but information flows in the form of payments and services. The development of the tourism business can only be based on the introduction of new ideas, improving the production processes of goods and services, expanding the range of tourism products, development of management system on the basis of innovation methods. One of the most effective innovative methods of tourism business development is the cluster approach, thanks to which tourism business companies can maintain their competitiveness in the market. The development of the tourism business in Azerbaijan is one of the strategic directions for the development of the national economy. Currently, Azerbaijan has numerous factors for the development of this business, but there are many problems that do not allow Azerbaijani tourism to develop in accordance with the existing …