Financial Modeling as an Instrument of Diversification of a Small Travel Company

Student: Boiarshinova Lina

Educational Programme: Experience Economy: Hospitality and Tourism Management (Master)

Year of Graduation: 2019

Financial modeling helps to correctly assess the effectiveness of the implementation of a new project. The purpose of this study is to develop a financial model as a tool for calculating projects for new services in order to diversify small tourism businesses. The study identified the criteria for small tourist business, its problems and development strategies (namely, the diversification strategy), developed a financial model of diversification for a small travel company, analyzed financial indicators to implement a diversification strategy. During the study, the feasibility of implementing a diversification strategy was exemplified financially by the example of a specific small travel company operating in the services market for more than 20 years.

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