THE IMPACT OF FINANCIAL MANAGEMENT TOOLS ON TOURISM COMPANIES IN THE POST-COVID ENVIRONMENT

This research focused on the financial management of tourism companies in Moldova during the post-Covid period, highlighting its critical role in ensuring business sustainability and stakeholder value creation in times of crisis. The aim of the paper is to determine the impact of financial management practices on the development of tourism companies of Moldova in post-Covid period in terms of short- and long-term financial management. The study employed the methods of financial analysis to identify the peculiarities of financial management of tourism companies of Moldova in the post-Covid period. The methodological framework of the analysis is the method of analyzing financial ratios from four groups: ROA; Debt/Equity; Liquidity; EBITDA Margin, Profit Margin. Key financial indicators for 2022 showed improvements: ROA increased to 2.1%, the Debt/Equity ratio improved to -2.8 times, liquidity management normalized to 1.7 times, EBITDA Margin rose to 32.1%, and Profit Margin to 6.9%. Practical significance of this study lies in its provision of a direct, applicable set of short-term and long-term financial management strategies for tourism companies during the economic recovery phase post-pandemic. Prospects for further research are to study both financial and market factors influencing the practice of financial management in the post-Covid period and adaptation as part of the economic recovery after the pandemic.