The impact of intellectual capital components on business performance in the travel industry

Abstract

Intellectual capital is an economic category that includes tangible and intangible elements crucial for achieving and maintaining competitiveness in the modern travel market. Intellectual capital arises from the application of knowledge to create new value. Business performance includes all the company's effects in various aspects of business in a certain period. The paper's subject is to analyze intellectual capital's impact on performance in the travel industry. The article aims to examine whether the components of intellectual capital affect business performance in the travel industry and, if it does, what form and strength these influences have. The sample included 144 respondents from companies involved in the travel industry in the Republic of Serbia. The research results show a statistically significant impact on business performance in the travel industry for all intellectual capital components. The research results are comparable to the results on the same topic worldwide. The results can help travel companies better recognize the essentials of intellectual capital and its components and manage human resources adequately and efficiently to expand business performance in the travel industry.