CURRENT PROBLEMS OF INSURANCE DEVELOPMENT ON THE MARKET OF TOURIST SERVICES IN UKRAINE

Effective functioning of the tourism services market is impossible without ensuring the safety of all its participants: tourists, producers, and providers of tourism services. Currently, insurance is the only effective market mechanism capable of performing security functions in the tourism sector. Accordingly, it is extremely important to identify existing problems that hinder the development of insurance in the tourism services market in Ukraine and determine ways to address them in order to ensure the stable operation of this market and the sustainable development of tourism as a whole. Ensuring the safety of the tourist services market actors is a guarantee of its sustainable development and is currently possible only through existing insurance mechanisms. Thus, the article is dedicated to identifying the problems of insurance development in the Ukrainian tourist services market that either impede its growth or may have a significant impact on it in the future. Using an extended form of PEST analysis — the PESTLE analysis, the issues of insurance development in the Ukrainian tourist services market are systematized. The use of such a methodological approach allowed not only to explore the classic macro-­environmental factors — political, economic, so‑ cial, and technological influences but also to examine legal and environmental aspects. It is substantiated that creating favorable conditions for the development of insurance in the Ukrainian tourist services market is possible only with the direct participation of the government, insurance companies, and tourists themselves. Improvement of existing and development of new insurance products on the tourist services market will contribute to the safety and protection of tourists. Considering the justified need to address the identified problems of insurance development in the Ukrainian tourist services market, the research results obtained will enable the development of measures and effective mechanisms to overcome existing issues and prevent future ones.