Assessment of the development potential of the tourism industry in Czechia on the basis of smart specialization

Abstract

The tourism industry is constantly evolving and requires the introduction of the latest technologies and development tools, such as smart specialization, which contributes to the economic development of countries, the welfare of the population, and an increase in foreign exchange earnings. The aim of the article is to assess the potential for the development of the Czech tourism industry on the basis of smart specialization using the integral indicator of smart specialization potential. The research methodology includes mathematical and economic, abstract and logical statistical, and expert analyses. The introductory part defines the content and components of smart specialization. At the next stage, the level of innovation, economic and investment, social and scientific components of Prague and other regions of Czechia was assessed, which determined the potential for the development of the Czech tourism industry on the basis of smart specialization using the integral indicator of smart specialization potential. The research results suggest ways to introduce smart specialization into the Czech tourism industry, including investment support for the implementation of smart strategies of the Czech regions; improvement of the regulatory framework for creating new business models for the development of tourism enterprises; ensuring the development of transport infrastructure, power grids, and digital networks; and improving social support for citizens; creating an environment in which it is possible to create and implement. The originality of the study is an approach to assessing the potential for the development of the Czech tourism industry on the basis of smart specialization using the proposed integral indicator of smart specialization potential. The practical significance is due to the possibility of using the integral indicator of smart specialization potential as a tool for allocating investment resources to ensure the development of the tourism industry of Czechia and its regions, which will be useful for the Czech government agencies to increase the potential of the country's tourism industry.