Evaluation of the Setting of the Global Promotion of the Czech Republic Destination
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Date
2020-05-06
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E D P SCIENCES, 17 AVE DU HOGGAR PARC D ACTIVITES COUTABOEUF BP 112, F-91944 CEDEX A, FRANCE
Abstract
Internationalisation is an increasingly common strategy for all types of companies across sectors, especially for tourism and destination management. The paper aims to evaluate the effectiveness of the current setting of marketing promotion of selected economies in the global market. The cost benefit analysis method compares the costs of individual international campaigns with the benefits measured by the number of arriving tourists from each target market. The costs and benefits of the internationalisation of the Czech Republic's marketing strategy (based on the CzechTourism data evidence) are subsequently quantified per unit, or how much money was needed to attract one tourist (given the cultural distance between economies) and the total amount of consumer spending of the tourist with the relevant source economy. The analyses showed paradoxically the low efficiency of the international campaign in Austria and Slovakia which, due to the amount of money spent, could not attract enough tourists. The net benefits of these promotions are EUR 74.84 for Austria and EUR 96.52 for Slovakia. On the other hand, the most effective was the campaign in Russia, which brought EUR 301.08 net profit. Marketing campaigns in India and the USA, where net profit exceeded EUR 200, can be considered successful.
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Subject(s)
CULTURAL DISTANCE, INTERNATIONALIZATION