THE ROLE OF THE TOURISM INDUSTRY IN REGIONAL DEVELOPMENT AND ITS ECONOMIC EFFICIENCY

Abstract

This article scientifically analyzes the role of the tourism industry in regional development and its economic efficiency. In the conditions of a modern economy, the tourism industry is becoming one of the key factors in diversifying regional economies, developing the service sector, and increasing employment among the local population. During the research, the economic mechanisms influencing regional development through the tourism industry, the formation of tourism infrastructure, and the expansion processes of the tourism services market were studied. In addition, the opportunities to improve the regional investment climate, stimulate the activities of small and medium-sized businesses, increase service exports, and raise local budget revenues through tourism activities were scientifically substantiated. According to the research results, the comprehensive development of the tourism industry is considered one of the important strategic directions for accelerating regional economic growth, modernizing infrastructure, and bringing the quality of tourism services to the level of international standards.