Financial dynamics of tourism companies, travel agencies and tour operators, during the crisis period

The global financial crisis has affected all countries during the period 2008-2014. Tourist companies, especially in Italy, play a significant role in the economy of a country. The performance of tourism companies, and in particular travel agencies and tour operators, will be analysed in this paper, relative to the period of the crisis. The aim of this paper is to analyse financial dynamics of the aforementioned tourist companies, to check whether they have suffered the effects of the global crisis. To this end, data from the AIDA database relating to Italian companies in the sector were used. The financial dynamic of these companies has been analysed using the quick ratio and debt ratio. An analysis of the trends of these indices was carried out for the period 2007-2015. In this way, it has been verified whether the global crisis has affected financial dynamics of travel agencies and tour operators in Italy.