Business Ethics of Tour Operators ? The Case Study of TUI

A large number of participants in tourism, both in offer and in demand, has conditioned the need for the creation ethical codices based on legislative regulations and moral principles. Among central figures in tourism, there are travel agencies and tour operators, the intermediaries between service providers and service users, in other words, passengers. The tour operators who are engaged in initiating tourism provide the services on foreign markets and tend to adapt their business to the laws and customs of the countries in which they run a business. TUI, as a leading European tour operator, which has even its representation in Serbia, can be a good example of the implementation of its business codes of ethics, but also adapting to the business customs being valid in the country in which TUI operates. Because of this, the aim of this work was to examine under what ethical standards TUI operates in Serbia in the domain of different stakeholders. The results of the research can be useful for different stakeholders.