Strategic management accounting as the key to success in the Hungarian hotel industry
DOI:
https://doi.org/10.14267/VEZTUD.2023.07-08.06Keywords:
hotel industry, strategic management accounting, financial indicators, non-financial indicators, COVID-19Abstract
In October 2017, the Hungarian government elevated the tourism sector to a strategic level by adopting the „National Tourism Development Strategy 2030”. One of the main goals of this formulated strategy is to increase the Hungarian tourism sector’s contribution to the GDP to 16% by 2030. Despite the central measure, relatively little is known about the long term performance of tourism firms. The study presents the results of empirical research conducted among the participants of the hotel industry, which is a very sensitive area of the Hungarian service industry. The most important finding of the study, based on the analysis of a statistical sample of 74 items, is the significant relationship between the application of strategic management accounting and the above-average non-financial performance measures. Based on the results of the research, the intensity of the relationship between the examined factors strengthens in periods of economic crises.
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