Low-cost air traffic as a determinant of tourism development

Air transport as an organized form of service provision, especially in passenger transport, can be important for increasing the number of foreign tourists. Globalization and the development of information technologies have contributed to the development of the business model of airlines, which has enabled a significant reduction in the cost of air travel and the accelerated development of this industry. Therefore, the emphasis is placed on the global trend of development of low-cost airlines, their way of doing business and the effects they have on the development of tourism. The increase in the number of low-budget airlines has multiple effects on the development of international tourism and passenger transport due to cheaper transport, which is made possible by improving the competitiveness of air transport after its deregulation. In addition, lower prices and a better logistical position can contribute to an increase in the number of foreign tourists and a higher income for this industry, as well as other related economic activities. The aim of this paper is to examine through theoretical and empirical insight whether there is an impact of low-cost airlines on the volume of air traffic and the intensity of passenger transport, with an emphasis on existing literature, as well as empirical confirmation on the example of Serbia. The conducted research has important implications, since in pandemic conditions, further development of low-budget airlines is expected to contribute to the recovery of air traffic and tourism.

Types and methods of measuring income convergence

Income convergence is one of the key research domains in the field of economic growth and development. The theoretical discussion of income convergence among countries began with the introduction of Robert Solow's neoclassical growth model. The first empirical research appeared in the 1980s, and to this day the results are ambiguous. There are several approaches of convergence, however, the most commonly used approach is income convergence between countries and regions. When it comes to income convergence, there are two concepts, namely s-convergence and b-convergence, where b-convergence can be absolute and relative. The paper presents different types of convergence, as well as methods of measuring income convergence.

The similarity of economic development of Turkey and Yugoslavia in the interwar period: Comparative analysis of macroeconomic indicators

In the interwar period, Turkey and Yugoslavia, despite many differences, have approximately similar economic performance, especially during the 1930s when the average GDP per capita at purchasing power parity for the two countries was almost the same, implicitly indicating a similar living standard. Both Turkey and Yugoslavia remained predominantly agrarian economies in the observed period, both in terms of the share of employees by sectors or the GDP structure. The two countries pursued a protectionist policy during the 1930s, which, in addition to imports substitution, also meant intensifying industrialization. However, the industrial growth of the 1930s, especially strong in Turkey, did not result in significant structural changes in the two economies, which remained at the European bottom in terms of development.

Economic analysis of public revenues and expenditures in the countries of the European Union

Modern states are faced with significant budget deficits and public debts. The long-standing negative trend of these categories can create significant negative consequences. All countries strives to rationalize expenditures and increase revenues without distraction the functioning of the economy. The subject of this paper is to create models of forecasting public revenues and public expenditures based on the same in previous years. The analysis includes all EU Member States and the values of public revenues and expenditures over the past ten years. The SPSS software package was used for data analysis and the conclusions were drawn from the obtained results. The importance of the analysis is reflected in the practical foundation of the pre-set theoretical views, which will have their foundation also in the results of the analysis, which will be statistically significant. The resulting model does not have its limitation of application and can be applied to the Republic of Serbia.

Small and medium business and The European Union: Mutual definitions

There are many controversial public perceptions about small and medium business. According to some interpretations, the development of small and medium business (SME) represents a great chance for the countries of the Western Balkans to be included in the economic and social flows of economically developed European Union (EU) countries on an equal basis. According to other interpretations, SME business is only an addition to great business, and as such, if the great business does not develop in the country, the chances for more intensive development of SME businesses are very limited. Also, cooperation with economic entities within the EU is very significant. What are the chances for the development of this business? The answer is given in this scientific article.

The concept of sustainable development in the Islamic economy

This article is a brief introduction to important terms related to Islam. It also provides an overview of important differences in modern Islamic thought. According to the literature in this field, three schools of thought are distinguished and elements that differ from each other are explored. Also, the article treats Islamic economics by exploring its development as an academic field of study and provides an overview of important concepts and topics. Here we will see how the differentiation into three schools of modern Islamic thought is relevant to the understanding of Islamic economics and some of its controversial issues. The article, in addition, introduces the concept of sustainable development, explores the development of the concept and introduces important concepts related to that idea. Finally, the last section deals with the correlation between the Islamic economy and sustainable development.

Models of communication between producers and consumers

The manufacturers' position in today's increasingly competitive market is very challenging, as shown by the fact that each product has its substitute from other manufacturers. Consumers benefit from competition since it allows them to select the product from the most suitable manufacturer while also raising the issue of whether the product substitute is better or worse than the product to which the customer is accustomed. In such a situation, the manufacturers' position in the market is unenviable because they are forced to cater to each customer's needs and continuously monitor their competitors. The above issues can be resolved by direct communication with customers. The fact that the manufacturers must place their products in the domestic market mainly through intermediaries, i.e. retailers and in the international markets through wholesalers and retailers, makes their business operations much more difficult. The already complicated way of doing business must not be viewed as a mere sale; instead, it can be enhanced by utilizing the sales chain (manufacturer, wholesaler, retailer, consumer) for the flow of information in the opposite direction (consumer, retailer, wholesaler, manufacturer), to retain consumers and increase product sales. We can use the sales chain for the information flow from the market if everybody involved in it feels the need for good, reliable, and quality information that will be adopted by the manufacturer and all sale participants, with an overarching goal to increase profits.

The concept of the English language for specific purposes (ESP)

The English language of profession, as the basic means of international business communication, has been the subject of interest of linguists since the 1960s. Such a long tradition deserves attention, especially if we keep in mind the fact that the English language of profession has long been studied in the context of general English. The aim of this paper is to point out the importance of the English language of profession, especially today in the 21st century when the development of science and technology reaches its peak. The paper presents the concept of the English language of the profession, which includes the main features of the English language, theories and contexts in which it is used.

The influence of organizational culture on the reengineering process

Reengineering is considered one of the radical measures that goes beyond the traditional style of management and corrects mistakes made by the organization in previous time periods. Companies often have to solve problems by starting from scratch, and this requires a lot of efforts and is often the only way for it to survive if it is in a crisis. All the characteristics of an organization in a certain way affect its formation and culture, and each organization has its own culture, even the lack of it represents a certain organizational culture. As reengineering requires radical changes in business, the manner and success of implementation largely depends on the organizational culture. Proper management of aspects of organizational culture enables companies to successfully implement the reengineering process in times of crisis.

Business performance management through a prism of software platforms

In the information age organizations focus on an integrated business process, as opposed to previously specialized functional skills. Globalisation has erased borders, consequently putting firms on the market with the best companies in the world. Considering the development of performance management and the increasingly complex structure and data amount, doing business without the support of information technology (IT) is simply unthinkable. The new paradigm has been known as the third generation of information technology platforms ("3rd Platform IT"). It is based on "cloud", mobile, social and Big Data technologies. This will enable all important digital transformations, evolutions and expansion of the industry in the following period. The future of organisations depends on the ability to master 3rd Platform IT and use them to their advantage. This paper will present some of the software platforms, which concern the strategic management support system, the budget support system, the performance management support system as well as the performance management support systems for teams and individuals.