COVID-19 RISK MANAGEMENT PERSPECTIVES OF THE EUROPEAN CAPITAL OF CULTURE: WHAT NOW?

Abstract

Purpose – Tourism industry is facing unexpected economic consequences of the COVID-19 outbreak, indicating the need for knowledge that would support the crisis management in rapidly changed market conditions. Such difficulties increased the managers’ and decision makers’ anxiety and put a pressure on actions with uncertain outcomes. Tourism has become a top priority in Serbia, which is supported by the fact that Novi Sad was declared European Capital of Culture (ECoC) 2021. Authors analyzed the consequences on the ECoC Novi Sad (Serbia). Methodology – The research was conducted in the form of interviews with representatives of the leading institutions related to the ECoC project and tourism of the City of Novi Sad, institutions in the field of the ECoC project management, tourism and creative industries, as well as the leading institution for tourist promotion of the City. Findings – The main findings are indicating the fact that respondents’ marketing and management concepts, applied in the previous year of the crisis, are proactive and reflected in the following activities: planning, organizing, communicating, controlling. The main issues were related to the following topics: Modifications in the business since the moment when the COVID-19 pandemic was declared until today; Assessment of the travel risk/benefit perception and activities related to mitigation/exploitation of such circumstances and; Recommendations in the field of the crisis management segment for the next ECoC. Contribution – This research will focus on building a knowledge base for various stakeholders from different sectors in terms of developing the guidelines for the risk management strategies.