Pre-feasibility study/analysis of the key tourism infrastructure project proposals in the Republic of Serbia

Project duration: August 2023 – June 2024

Call/Program/Scheme: /

Client / Financier: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH

Participating institutions: Institute of Economic Sciences

Principal investigator (PI): dr Isidora Ljumović, Institute of Economic Sciences

The role of IEN in the project: IEN is a lead institution

IEN project team (manager/coordinator, team members):

dr Isidora Ljumović (Principal Investigator)
dr Slavica Stevanović
dr Sonja Đuričin
dr Isidora Beraha
dr Milena Kojić
Emilija Cvetković, MA

Description:

Serbia's tourism sector lacks systematic assessment frameworks for infrastructure investments, with decisions made ad-hoc without evaluating economic and tourism impact. The Ministry of Tourism and Youth requires structured processes for identifying and prioritizing projects with evidence-based justification for financing.

The project develops ten pre-feasibility studies analyzing economic and tourism impact of key infrastructure proposals, serving as transparent assessment tools for investment decisions aligned with Serbia's Tourism Development Strategy and enabling effective donor engagement.

The project employs comprehensive analysis following, including socio-economic and tourism valorization assessments; financial and economic analyses with 5-year projections; market demand evaluation; three project scenarios; sustainability, environmental, social, and local economic impact analyses; and risk assessment. Studies include profitability indicators, financial sustainability, market projections, financing models, community impact evaluation, and investment justifications for transparent prioritization.

The studies establish replicable methodology for systematic tourism infrastructure assessment, strengthening MTY's strategic capacity, enhancing stakeholder coordination, and creating a foundation for sustainable financing while ensuring measurable economic growth and cultural heritage valorization.

Keywords: pre-feasibility analysis, tourism infrastructure, economic impact assessment, investment analysis, strategic planning

RESULTS