Danka S Milojković | University Singidunum, Belgrade, Serbia (original) (raw)

Papers by Danka S Milojković

Singidunum University International Scientific Conference SITCON 2024 “Tourism Transformed: Rethinking Strategies for Modern Tourism”,, 2024

Increasingly important factors in modern sustainable tourism and hotel industry business are gree... more Increasingly important factors in modern sustainable tourism and hotel industry business are green finance and energy efficiency. The subject of this paper is the identification and analysis of the role of green finance in supporting sustainable practices in the tourism and hotel industry with a focus on improving aspects of energy efficiency. The paper used an analytical method to diagnose the research problem, a comparative analysis to compare case studies, and a synthetic method to summarize the results. It identified and analysed case studies of companies in the hospitality industry that used credit lines with a grant through the Green Economy Financing Facility (GEFF) to enable investments in energy-efficient technologies and sustainable practices. In the context of the hotel industry, energy efficiency not only reduces operating costs but also contributes to reducing the carbon footprint, thereby increasing the competitiveness and attractiveness of tourist facilities. This work, based on the analysis of examples of good practice in Armenia, Kyrgyzstan, Morocco, Turkey, Bulgaria, and Croatia, provides recommendations for the integration of green finance into business strategies, emphasizing that a multidisciplinary approach is important for achieving sustainable goals in tourism and hospitality.

Ekonomika Poljoprivrede, 2024

Legal framework, infrastructure expansion, community engagement, capacity development, public-pri... more Legal framework, infrastructure expansion, community engagement, capacity development, public-private partnership (PPP), cluster development, and financial strategies are variables that contribute to creating a business environment for CWT development. This research aims to analyse aspects of managing the abovementioned variables for a sustainable and pleasant experience for residents and visitors. The data collected through the survey were analysed using non parametric statistical methods. The analysis showed that regulation and infrastructure (64.2%) are prerequisites for encouraging CWT development, and education of the local population about clustering contributes to this. PPP projects mean greater attractiveness of rural tourist destinations (80.1%). Financial strategies for the development of CWT are donations, vouchers, and joint ventures. Adolescents, students, and families with children prefer the crowdfunding strategy. The authors propose strategic planning, management, and monitoring of key business environment variables for CWT development. Further research should focus on safety, security, accessibility, environmental sustainability, technology integration, and visitor feedback.

Cases on Effective Destination Management , 2025

Countryside walking tourism contributes to sustainable rural socio-economic development. The purp... more Countryside walking tourism contributes to sustainable rural socio-economic development. The purpose of the research is to observe the possibility of managing countryside walking tourism in a village according to the expectations of tourists during their travel and vacation in rural destinations. The research methodology was based on a descriptive statistical analysis using the survey for gathering data from the rural tourism demand market, and the VICE model for sustainable tourism for getting conclusions. The key result indicated that countryside walking tourism management should consider the tourists’ expectations related to the clean environment. It preserved nature as the most influencing factor in the choice of a walking tour in rural destinations, and at the same time, it is more important to the female than to the male population. The authors recommend incorporating countryside walking tourism into walking strategies as a part of rural and tourism development policies.

International Scientific Conference FINIZ 2024 - Social Media and Contemporary Business, 2024

Due to rapid IT technology development, many people and enterprises are now active users of socia... more Due to rapid IT technology development, many people and enterprises are now active users of social networks. Traditional banking communication channels have become insufficient to meet the demands of modern business conditions. To respond to the evolving preferences of both existing and potential clients, in the conditions of intense competition, banks have had to implement digital technologies and reorganize their approaches to conducting business, connecting, and communicating with clients. Digital changes have given clients a distinctive experience and strengthened the banks' position in the financial market. Today, banks are increasingly present on social networks across the world, including Serbia. The presence of banks in Serbia on social networks was analysed in the paper using content analysis and the comparative method. The research purpose is to identify trends in the use of social networks for bank promotional strategies and to give recommendations for their improvement.

Annals of Spiru Haret University. Economic Series, 2024

The improvement of energy efficiency and transitioning to renewable energy sources in ... more The improvement of energy efficiency and transitioning to renewable energy sources in conditions of intense efforts to reduce global warming has become a need. Numerous programs were adopted for financing these activities by international financial institutions and development organizations, whereby a significant part of these programs are implemented by banks. This paper analyses bank loans that have been approved within the Western Balkans Investment Framework (WBIF) program to evaluate their contribution to the realization of the energy performance of enterprises in the Western Balkans countries. By applying content analysis, case study, and comparative methods on the analysed enterprises, it was determined that the mentioned programs were implemented in the Republic of Serbia, North Macedonia and Bosnia and Herzegovina. These programs and credit lines contributed to increasing the energy efficiency of enterprises in the analysed countries. Considering the dominant role of banks in the financial sectors of the Western Balkans countries, banks should take on the role of project creditors oriented towards the improvement of energy efficiency in the future, especially when crediting SMEs. In order to be able to support as many of these projects as possible, banks need to strengthen their institutional and personnel capacities.

SCIENCE International Journal, 2023

Walking tourism, among the most attractive manners to observe a destination and satisfy the growi... more Walking tourism, among the most attractive manners to observe a destination and satisfy the growing demand of visitors for outdoor activities, allows tourists to interact closely with local nature, people, tradition, culture, and heritage. Walking tourism needs low investments and can be developed anywhere. The impacts of greenspace on people's physical and mental health contribute to the accelerated development of this form of tourism. By better understanding users, it is more likely to develop a product or service that works for them. Despite the efforts of urban areas to become greener and more attractive (Callaghan et al., 2021), rural areas have unique and pristine natural resources that cannot be created artificially. In addition, life in the village is still traditional, peaceful, and easy, customs are respected, and the cultural heritage has been preserved from the influence of the modern, high-tech age and global market trends (Štetić & Šimičević, 2017). When developing a nature tourism product, the focal question is related to real user needs. Such as the lack of information about user needs accounts for 35% of total reasons for start-ups' failures (CBInsights, 2021), this logic can also easily apply to tourism destinations. To learn about user needs, the starting point is to research users and their motivations, triggers, and context for using the product or service. Considering the impact of greenspace on people's physical and mental health, countryside walking tourism (CWT), with the village as the pivot of tourist activities, is a rapidly developing form of rural tourism. Properly developed and managed, walking tourism brings social-economic benefits to destinations and gains a significant place in regional sustainable development (Milojković et al., 2023a). CWT, with the village as the pivot of tourist activities, is a rapidly developing form of rural tourism (Milojković et al., 2023b). Understanding users and their needs-based CWT management reduces the risk of expensive failures, ensures timely delivery, sets up and manages a team to design, build, and maintain a product or service, and opens space for innovations. The research purpose is to perceive users of the countryside walking tours and their needs during those tours. Among the general scientific methods, the statistical method and the hypothetico-deductive method were used. The research data were collected using the questionnaire-based survey technique and processed by SPSS. The general results indicated that the management of CWT should target meeting user needs for visiting hidden and original places with a local guide, consuming and buying authentic food and drinks, and raising awareness and building communicative capacities of the local population. The research contribution is to improve the management of rural tourism destinations based on understanding users and their needs for countryside walking tours.

Review of Socio – Economic Perspectives (RSEP), 2023

Since the medical system is poorly prepared to use walking as a therapy for keeping mental well-b... more Since the medical system is poorly prepared to use walking as a therapy for keeping mental well-being and taking into consideration people's needs for activities, the advantages of nature and active holidays on the mountain, rural and non-polluted urban areas are a basis for the development of strategies of the walking tourism management. The purpose of the research is to observe the possibility of managing walking tourism based on the needs of tourists for daily indoor and outdoor activities to achieve sustainable local economic development in the area of the tourist destination. The research was conducted using a descriptive method by the questionnaire-based survey. Results indicated that the management of walking tourism should take into account the differences that exist concerning indoor and outdoor activities between tourists of gender, age, marital status, number of children, education, work status, and annual personal investment for tourist travel and vacation. In the last decade, an increase in the number of walking strategies in the cities of highly developed countries has been identified, as well as the incorporation of this strategy into development policies and plans. For efficient and effective management of walking tourism, authors recommend embedding walking tourism in the sustainable local economic development strategy that will contribute to the creation of enabling business environment for the development of all types of tourism destinations through the "demand-driven" tourism offer based on sustainable using natural resources, local infrastructure, and building the capacities of the workforce.

Land

In the northern part of Serbia, where the Autonomous Province (AP) of Vojvodina is located, a tot... more In the northern part of Serbia, where the Autonomous Province (AP) of Vojvodina is located, a total of 27 important plant areas (IPAs) have been established. Within three selected IPAs, there are different biocenoses inhabited by endemic plant and animal species, which form a unique sensitive ecosystem. Furthermore, in these areas, there are wetlands and areas important for geodiversity maintenance. The three studied IPAs include the territory of special nature reserves of the same name: the Special Nature Reserve (SNR) Zasavica, the SNR Obedska Bara, and the SNR Koviljsko-Petrovaradinski Rit. In these selected protected areas, tourist activities are carried out at different levels of development and through various forms of tourism. This research used quantitative methodology to examine the degree of sustainable tourism development and its impact on residents. A total of 1134 respondents were surveyed using a questionnaire as an instrument. The obtained results indicate that the se...

Annals of Spiru Haret University. Economic Series, 2023

Life insurance companies as institutional investors are key participants in the global financial... more Life insurance companies as institutional investors are key participants in
the global financial market. By collecting the savings of the insured,
accumulating large amounts of funds and their long-term investment into
various financial instruments, these companies affect the development and
stability of the financial market. Considering their significance, the aim of this
paper is to determine the determinants of life insurance demand by analysing
the environment in which these companies operate on the European financial
markets, in order to detect the possibilities for increasing the sale of life
insurance policies, and thus the amount of collected amount that will be
invested in the financial market for a long term. Based on the research results,
determinants that may encourage the life insurance demand in European
countries are determined and the recommendations on how to manage the sale
of life insurance policies, with the aim of increasing the amount of collected
funds.

Economics of Agriculture, 2023

With low investment, countryside walking tourism contributes to the rapid recovery of rural touri... more With low investment, countryside walking tourism contributes to the rapid recovery of rural tourism in the post-covid time. The research purpose is to examine factors that impact the interest of tourists in the statesupported countryside walking tourism. The sample consisted of 467 respondents from the general public. The SPSS software was used for processing data. The results indicated that safety, content, and price are the most influential factors. For females, slightly more important factors were related to the possibility of consuming authentic food and beverages, buying traditional handmade products, the inclusion of the local population, and the well-being of urban residents. A village, with authentic local houses and cuisine, and local tour guides, is the epicenter of countryside walking tourism. Embedding countryside walking tourism in sustainable rural tourism development policies is recommended. The research contributes to the integration between sustainable rural development and sustainable tourism development.

Sustainability, 2023

Research on the impact of protected areas on sustainable tourism development is undeniable. It me... more Research on the impact of protected areas on sustainable tourism development is undeniable. It means that protected areas should be significant tourism destinations for the success of sustainable tourism. The improvement of natural values, reduction of negative tourism effects on the area, strengthening of the residents’ role in tourism planning, development of the nature-based form of tourism, adoption of legal regulations, and the provision of economic benefits for both managers
and residents are the main activities of sustainable tourism development. The areas of Kopacki Rit Nature Park in Croatia and Gornje Podunavlje Special Nature Reserve in Vojvodina Province (Northern Serbia) are parts of the European river protected area called “The European Amazon”, and
are protected as the Mura-Drava-Danube Transboundary UNESCO Biosphere Reserve. The aim of the research is to obtain significant results regarding the attitudes and satisfaction of 1225 residents with sustainable tourism development using a quantitative methodology (PoS model), and SPSS analysis of the carried-out questionnaire. The respondents’ attitudes are related to the ecological, economic, sociocultural, and institutional sustainability of the protected area as a tourism destination. In addition, interviews were conducted with the managers of natural assets and experts in their tourist development. Answers from the interviews were used to confirm the obtained results.

SITCON, 2021

In a time when the world is faced with the global COVID-19 pandemic, tourism, as an important veh... more In a time when the world is faced with the global COVID-19 pandemic, tourism, as an important vehicle in regional economic development and growth, has been one of the most affected sectors. For an efficient and effective social and economic recovery, it is necessary to focus on small and medium sized enterprises (hereinafter SMEs) that play a leading role in most economies, especially in developing countries, and on a cluster, as a way to achieve sustainable economic development based on generation and efficient coordination of interaction between the government, SMEs, and academia, directly contributing to employment creation and poverty reduction, creativity, and innovation. Due to the small number of studies that address the problem of understanding the role of a cluster in the regions' spa and wellness tourism development and growth, this research paper aims to propose a spa and wellness tourism cluster model and to consider how it can stimulate creating the competitive spa and wellness tourism products, and contributes to the regional development, networking, and internationalization of SMEs in the spa and wellness tourism industry.

SITCON, 2022

Urban areas are the heart of tourist movements in the world nowadays. Urban tourism contributes t... more Urban areas are the heart of tourist movements in the world nowadays. Urban tourism contributes to the development of urban areas. Urban centres are the most significant users of resources and energy in rural areas and producers of waste and all forms of pollution. Since cities are complex systems, the concept of smart cities was developed to contribute to the infrastructural arrangement of the city, a cleaner, more sustainable environment, and thus a better quality of life for citizens. The research aims to show how important it is to apply the concept of smart cities to improve the competitiveness of urban tourist destinations. The study was conducted with respect to Copenhagen. A case study methodology reveals influential factors that make urban tourism based on smart city concepts competitive. The research contributes to improving urban tourism competitiveness and initiating smart city projects. Smart and sustainable city projects are strongly recommended.

FINIZ, 2022

The global crisis caused by the COVID-19 pandemic triggered the need for organizations to become ... more The global crisis caused by the COVID-19 pandemic triggered the need for organizations to become more flexible to environmental changes, initiate and improve the processes of digital transformation in business, develop a corporate culture based on innovation and creativity and apply the concept of strategic management. The impact of a crisis is minimized if organizations are planning. The subject of this research is the analysis of the case of an organization that uses the Agile project management approach. The goal of this research is to consider the possibility of improving business resilience by applying Agile in the organization's planning. Content analysis based on a case study method was used in the research. The research contributes to the greater ability of organizations to adapt to changes in a turbulent and dynamic environment, especially in times of crisis, with the aim of maintaining, developing, and growing business through applying Agile.

Land, 2023

The Deliblato Sands Special Nature Reserve (SNR) is located in the Autonomous Province of Vojvodi... more The Deliblato Sands Special Nature Reserve (SNR) is located in the Autonomous Province of Vojvodina (Northern Serbia). The favorable position implies the proximity to large cities with which it has good traffic connections. Romania, Hungary, Bulgaria, Croatia, and other countries
from the region represent a dispersive zone. The topic of this paper is the function that the SNR has in sustainable tourism development. The objective of this work is the analytical research of the available written data, as well as those obtained after the conducted survey. The basis of the research is to find out how and to what extent the SNR contributes to sustainable tourism development. The research was carried out by measuring the value of sustainable tourism indicators, and examining
the attitudes of residents, visitors, and students about the current state of sustainable tourism and the importance of the SNR for future tourism development. Respondents were selected using a random sample method. The authors used qualitative and quantitative methodologies in the paper. This research examined the SNR sustainable development by measuring sustainability indicators and surveying 1884 respondents (714 residents, 620 visitors, and 550 students) about sustainable tourism in the SNR. The obtained data were analyzed and presented with the help of SPSS v. 21 software. The research results can be used to create national and international strategies for sustainable tourism development.

Abstract and Applied Analysis

This paper discusses the importance of starting point in the simplex algorithm. Three different m... more This paper discusses the importance of starting point in the simplex algorithm. Three different methods for finding a basic feasible solution are compared throughout performed numerical test examples. We show that our two methods on the Netlib test problems have better performances than the classical algorithm for finding initial solution. The comparison of the introduced optimization softwares is based on the number of iterative steps and on the required CPU time. It is pointed out that on average it takes more iterations to determine the starting point than the number of iterations required by the simplex algorithm to find the optimal solution.