THE IMPACT OF THE EXCHANGE RATE ON THE TOURISM INDUSTRY: THE ROLE AND SIGNIFICANCE OF EXCHANGE RATES

Abstract

The type of exchange rate and its value is of great importance for a travel company engaged in foreign economic operations. The contract for the sending, reception and service of tourists concluded between the parties, as well as the contract for the provision of tourist services concluded with the client, contains a section that includes information on the forms of payment, price currency and currency of payment. The article fully reveals the topic of the impact of the exchange rate on the tourism sector. The currency term is defined, as well as the exchange rate. The importance of the national currency for international travel is indicated. The impact of currency crises, trends in currency fluctuations and strategies that can help both tourists and companies successfully navigate in this dynamic environment are considered. In the context of global economic changes and geopolitical factors, understanding and managing currency risks becomes critical for the continued prosperity of the tourism industry. The concept of a currency crisis and its impact on the tourism industry is presented on the example of one country. Precise strategies are given for travel agencies in the face of the currency crisis. The impact of exchange rates on the tourism sector is predicted in the near future.