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COLUMN: Family business

Namik Čolaković In the middle of this year, the results of KfW Bank's research on family businesses in Germany was quite unnoticed by BH media. The key observation is that over the next five years or by 2023, nearly 840,000 small and medium-sized companies in family ownership will face a question or dilemma about who will…

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COLUMN: Political crisis as a barrier to development of tourism

Namik Čolaković The political declaration of BH Citizens, according to the media statements of political winners and losers in post-election combinations, has introduced new riots and waves, primarily among population that officially has the citizenship of Bosnia and Herzegovina, and turbulences are partly felt in the region. Consequently, a political crisis is generated, which in case of…

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COLUMN: Multiplicative effects of tourism

Namik Colakovic The term multiplier is derived from the Latin word multiplicare, which means to multiply or generally to increase, and in economic theory expresses the quantitative relationship of the change of exogenous variables (value of investments, consumption, exports and other values) to changes in endogenous variables (aggregate demand, national income or employment) . Given the…

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OPINION: Dental tourism as a perspective

Namik Čolaković The arrival of diaspora in the summer months to Bosnia and Herzegovina, among other things, intensified their contacts with domestic dental practices, as prices of dental services are significantly lower than those in the countries from which they come from, and they are not qualitatively lagging behind. The relationship between quality and price, as…

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A contribution to understanding game theory

Namik Čolaković Theory of games is a mathematical theory of participants deciding in a competitive environment, through which the analysis of social phenomena can be carried out. This theory is one of the ways in which to interpret or anticipate behavior and decisions in conflict situations, that is, in situations where the final solution of a…

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Can we meet expectations of tourists?

Namik Čolaković The basic component that affects the level of quality is the expectations of tourists, who will feel satisfied only if the perceived quality exceeds their expectations, but also feel dissatisfied if the quality of a service is below expectations. Tourists expect to get the best possible quality for their money and the basic standard…

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Are we ecologically ready for tourism development?

Namik Čolaković The reason for this title, and generally for the topic of this column, is media coverage of the news from the beginning of May, which showed that tourists from one of the Asian countries in the Sarajevan Park At Mejdan, took bags and picked up garbage that was on green surfaces. Namely, tourism as an…

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How touristically competitive is Bosnia and Herzegovina?

Namik Čolaković Almost all media have placed information at the beginning of this year about the tourism boom of Bosnia and Herzegovina, which has classified this sector of economy into one of the fastest growing sectors of BH economy. Naturally, this also coincides with official positions and strategic commitments that Bosnia and Herzegovina has diverse and…

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OPINION: Health through water

Namik Čolaković "Salus per Aquam" is a Latin proverb that means "health through water". In tourism theory, the use of water for health purposes is directly related to spa tourism, where spas are considered as populated places based on location benefits related to the existence of mineral and thermal springs, and favorable climate, which are usable…

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OPINION: Can the economy and ethics go together

Namik Colakovic For many years now, many theoreticians in the world have warned of the need for a full correlation of moral and legal norms with the intention of reaching the highest social interests through the ethics of business. The present economic relations in the world, colored by the globalization concept, indicate that equilibrium between moral…

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