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The main purpose of the article was to describe selected factors of hotel business in the Slovak Republic in the years 2001 to 2020 and identify the economic impacts of measures related to the pandemic crisis COVID-19 in 2020. At the same time through selected marketing tools. Paper is also focused on innovative marketing tools used in the hotel business during a pandemic time and their impact on business effectiveness. To analyze the situation in the hotel business in the Slovak Republic, we used a statistical method of comparison within the period under study. To obtain qualified answers to the stated research goals and subsequent research questions, we statistically processed available data on the number of domestic and foreign visitors, as well as the capacity of accommodation facilities in the monitored period. Subsequently, we carried out research in the hotel sector using the method of controlled structured interviews. The results were processed through exploratory factor analysis, based on which we were able to evaluate marketing tools with the most significant impact on efficiency in the hotel business in the Slovak Republic. The measures taken in connection with the coronavirus COVID-19 caused significant economic impacts on the hotel business in the Slovak Republic, as in 2020 the number of foreign visitors dropped to 20-year lows. The analysis of the environment in the hotel business for the period under study showed that the impact of measures within the COVID-19 pandemic had a significant impact on the number of visitors, the amount of revenues and the number of accommodation facilities. The research of structured interviews with accommodation facility managers showed that the use or non-use of marketing activities (websites, PPC advertising, social media) had a significant effect on the reduction of revenues. The findings of the analysis of the environment clearly show that the relaxation of the economic measures in the summer of 2020 increased the number of domestic visitors to a higher level than in the same period in 2019, but there was no increase in the number of foreign visitors. We can state that if the epidemic comes under control, there will be a massive increase in the number of visitors and thus an increase in revenues. In case, that Slovak hotel managers would use innovative marketing tools more in the future when communicating with potential customers, it is highly probable that their potential losses would be lower in the next crisis. [ABSTRACT FROM AUTHOR]

Agriculture has a significant economic position in each country, either historically or in terms of importance. Without the products of agriculture, there could be no life. That's the reason to analyze this industry. This industry is now, in the current global world, affected by new trends and new competition on the market. New management, innovations, and other challenges that occurred in this sector. It must face new threats. Primarily, significant changes in the global world environment significantly affect this sector. Firstly, through the volume of crop production, respectively, non-production due to substantial climate changes. Secondly, due to stricter market conditions and its current regulation. Changes in these areas have a significant impact not only on the development in the agricultural sector itself but also on the development of the economy as a whole. Today, competitiveness plays a significant role in the world, as well as in agriculture. This paper summarizes the findings from the area of agriculture, nowadays trends in this sector, innovations. It analyses the competitiveness in this sector, which is characterized by its specific features. Then it summarizes the findings and central thesis about Common Agricultural Policy and its instruments. Another part of this article is dedicated to an important topic - innovation in agriculture. Agricultural innovation is seen as a co-evolutionary process because it combined technological, social, economic, and institutional changes. The main aim of the article is to identify the impact of agriculture on the economic development of the Slovak Republic economy and to show the possibilities for innovation implementing into this sector. The selected indicators will analyze the description of the position of this sector in the past and today. The typical indicators for the agricultural sector were set. Methodological tools of the research methods were analyzing statistical purposes as a regression model, and p-value. Through a regression model, we would like to know what is the dependence of crop and livestock productions on the GDP of agriculture. Finally, improvements to the current state will be suggested. To gain the representative data, more than 20 years of research were set. The object of study is the Slovak republic. The position of agriculture within this country was identified. The article shows the results of the verification of dependencies between indicators in the agricultural sector, which showed that statistical significance is assumed, which, of course, is confirmed both in crop and livestock production. The systematization of domestic and foreign scientific studies and approaches to answering problems in the management of agricultural innovations and the low share of agriculture on GDP makes it possible to create suggestions for the innovative solutions in agriculture in Slovakia. [ABSTRACT FROM AUTHOR]

Since 2002, the Slovak government have been using the system of investment aid for enterprises. However, the economy of the Slovak Republic characterized by differences among regions. Therefore, in March 2018, the Slovak government modified the system of investment aid to mitigate the differences among the regions. The main aim of the paper is to examine whether investment aid in Slovakia has served its purpose and was channelled to disadvantaged Slovak areas. The objects of the research are particular investment projects supported by the state investment aid in the observed period. The subjects of study are the selected forms of investment aid provided in the Slovak republic. The paper analyses the amount and structure of the provided investment aid in the Slovak Republic during the period 2002-2018. The secondary data on business entities, which received investment aid was obtained from the Ministry of Economy of the Slovak Republic. An additional source of information is data from the Statistical Office of the Slovak Republic about the rate of unemployment and GDP per capita in the Slovak regions. Descriptive statistics and comparison analyse the obtained data to evaluate the total provided investment aid. The authors work with three research questions. The first concerned the uniformity of investment aid provision during the years 2002-2018. The second focused on verifying the proportionality of the covered costs to the newly created jobs. Finally, the authors test the primary mission of investment aid, reducing regional disparities (based on the allocation of investment aid to regions of the Slovak Republic). There were identified evident differences in the total amount of provided investment aid in particular years. The analysis confirms that the costs for one newly created job in particular Slovak regions were quite different. There were regions where the subsidies for one new job were three times higher than in others. During the analysed period, the majority (56%) of investments were realised in regions with a lower rate of unemployment compared to the average price in Slovakia. The aid in these regions was achieved, with 75 % of the total amount of investment aid. The results of the analysis confirm that investment aid in Slovakia is still not focused on the support of less developed regions. [ABSTRACT FROM AUTHOR]

Creative regions contribute to a higher standard of living, are attractive to start-ups, create new jobs, reduce brain drain and attract applicants for university education. The paper aims to compare selected indicators of implementation of start-ups and creative potential in the regions of Slovakia at NUTS 3 level and to quantify their mutual relationship. Benchmarking of 8 Slovak NUTS 3 level regions is based on 2 comparisons, namely: 6 indicators of start-ups implementation (frequency of start-ups, creation of radical innovations, employment in fast-growing companies, venture capital awareness, crowdfunding awareness and possibilities of counselling in the implementation of start-ups) and 6 indicators of creative potential (openness and diversity, human capital, cultural environment, technologies, institutional environment and creative outputs). Numerical values of these indicators are obtained from secondary research studies – e. g. modified Slovak Creative Index, Regional Innovation Scoreboard, Slovak Start-up Report and websites of innovation incubators and crowdfunding platforms. To obtain the true values of these criteria, the analysis of secondary data – desk research and the method of pairwise comparison with 91 respondents (students of Slovak universities of economic orientation with Slovak or Ukrainian nationality) was used to determine the real significance (weights) of the criteria. According to pairwise comparison, the most important indicator of start-up implementation is possibilities of counselling and the most important indicator of creative potential is creative outputs. Consequently, the relationship between the two comparisons is quantified. The global benchmark based on the implementation of start-ups is the Bratislava region, as well as in the case with creative potential. There is a strong correlation (85.5 %) between the scores of the compared regions. The final ranking of the 5 regions out of 8 in both comparisons is also the same. The theoretical contribution is extending of the issue of benchmarking from traditional understanding (products, services, processes) to spatial understanding (region). The main practical contribution of the paper is to identify the weaknesses of each of the compared regions through benchmarking. Its implementation can be the basis for the development of regional strategies and the introduction of new study programs at universities. [ABSTRACT FROM AUTHOR]

Eco-innovation and green technologies are key to Europe's future and they are at the heart of the European Union (EU) policies. The EU's economic prosperity and well being are linked to its natural environment and the global demand for renewable energy and resource-efficient solutions will be a source of new jobs and economic growth in the years to come. As the numerous practical examples from industry demonstrate, eco-innovation is a powerful instrument that combines reduced negative impact on the environment with a positive impact on the economy and society. Eco-innovation call attention to the positive contribution that the small and medium enterprises can make to sustainable development and a competitive economy. To step towards sustainable economic growth, there is a need for much more eco-innovations to appear in small and medium enterprises (SMEs). The aim of the paper is to present the results of empirical research aimed at SME's involvement in eco-innovation activities in Slovakia and to compare them with the EU 28 average. Our analysis is aimed at five eco-innovation activities contributing deeply to the circular economy. That is a) waste recycling and minimizing waste generation; b) re-planned energy usage to minimize consumption; c) redesigning products and services to minimize the use of materials or using recycled materials; d) changes to the use of water to minimize consumption and to maximize water re-usage; e) usage of renewable energy sources. Identified will be the actual and perceived issues (problems, difficulties) encountered by Slovak SMEs with regard to undertaking eco-innovations. Based on the research results formulated are the implications for SMEs managers and policymakers in Slovakia concerned with the SME's involvement in ecoinnovation. Our study is qualitative and descriptive in nature and most of the data is based on secondary sources. The data used to assess the SME's involvement in eco-innovation activities come from the survey commissioned by the EC in the year 2016 with the aim to explore SME's activities in relation to the circular economy (including the ecoinnovation activities) in the period of years 2014-2016. As to the Slovakia 383 SMEs operating in manufacturing, services and in the industry sector has been interviewed. The methods used in the paper are the methods of causal analysis, deduction, abstraction, comparison as well as synthesis. [ABSTRACT FROM AUTHOR]

Constantly increasing consumption of alcohol and the associated negative consequences affecting human health and not only, present a major problem for Czech Republic, Slovakia and the world overall. Increased alcohol consumption is directly related to easier accessibility of alcoholic beverages, this especially concerns younger generation of consumers. It is generally known that one of the most frequent causes of premature death within the European Union is excessive consumption of alcoholic beverages. In terms of the consumed alcohol volumes, Czech Republic and Slovakia are among the countries with the highest levels of consumption in Europe. For this reason, the main purpose of this paper was to examine the consumption of alcohol and consumer behavior at the alcoholic beverages market using a marketing survey, and also to identify the main reasons leading to the consumption of alcoholic beverages, as well as the factors influencing the most on the consumer decision-making leading to purchases and consumption of alcohol in Czech Republic and Slovakia. Primary data was acquired through the questionnaire survey with 686 respondents in Slovakia and 757 respondents in Czech Republic. Based on the results of the questionnaire survey, it is possible to state that in both countries the most preferred alcoholic beverage is wine and the main motives behind the consumption of the consume preferred alcoholic drink are consumption during social events and entertainment as well as the fact that consumers just like its taste. The main reasons for consuming alcoholic beverages in both countries is the taste, while quality is considered to be the most important factor when deciding to buy a particular drink. Using the cluster analysis method, 5 segments were established and described for Czech Republic and Slovakia. Individual segments differ in their respective characteristics of consumer behavior in both countries. [ABSTRACT FROM AUTHOR]

Practice has shown that inappropriate branding pattern can be branding pattern which was previously very appropriate on other market or for other brand. By application of cluster analysis in OECD´ countries, in the context of Hofstede model of social dimensions, we found that the cause of this phenomenon is the significance of the impact of the national socio-cultural profile of consumers in the subjective perception of the brand value. On the example of Slovak Republic was confirmed that customers perceive as more valuable the brands, which social-cultural profile of the country of origin is convergent with the national. Subsequently, we identified individual attributes of the socio-cultural profile with the sources of individually perceived the brand value. [ABSTRACT FROM AUTHOR]

This paper aims to find consequences and relations between the economy and tourism industry in post-crisis tourism development in the Slovak Republic. The smooth partial least squares approach dependent on a parameter was applied, with the economy lagged situation in the data. In some sense, different conclusions are identified on the original variables and first differences. The share of the multivariate linear trend in the individual parameters was also quantified. [ABSTRACT FROM AUTHOR]