Goran Kovačević: ‘Revenge tourism’ is very simple in its economic logic

Goran Kovačević, general manager of the hotel “Sunčani Hvar”, in his presentation at the “Summer 2023” conference panel, said that the term “revenge tourism” is easily explained from an economic point of view.

“We have all forgotten, especially in the hotel segment, what that corona was and what that corona brought. Of course, it was not the corona that brought it, it was brought by our authorities, the decisions that influenced the closing of hotels and people, not they can travel. There was an accumulation of some funds that remained in people’s accounts. People did not spend, people did not travel, people had some dinar left, and then simply, after those one and a half days, yes, they started to spend some of their money to travel. A normal natural process that happened out of an abnormal unnatural process that was then. And then, of course, we came up with the phrase “revenge tourism”. It has nothing to do with revenge, but it has to do with the excess capital that happened to people in general,” Kovačević explains.

When it comes to the recovery of tourism, it happened unexpectedly, quickly, and successfully.

“After all that, of course, last season was extremely good. The World Tourism Organization said that tourism will not recover until 2023, last year tourism recovered to a level that it did not even have in 2019, when it was the best year for tourism. It simply happened, and it’s called “revenge tourism”, he added.

Kovačević points out that the money invested in tourism at the moment, considering inflation, is the guaranteed security of something beautiful that can be experienced because it no longer represents something material.

The entire conference can be viewed HERE.


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