http://creativecommons.org/licenses/by-nc-nd/4.0/legalcode https://phaidrani.ni.ac.rs/o:2411 doi:10.31410/tmt.2019.639 ENTROPY, Tourism Development Evaluation, MOORA, ARAS 2019 eng application/pdf 595770 bytes info:eu-repo/semantics/bookPart Marjanović, Ivana Rađenović, Žarko Marković, Milan EU MEMBERS MULTI-CRITERIA RANKING ACCORDING TO SELECTED TRAVEL INDUSTRY INDICATORS As a multidimensional phenomenon that contributes to the economic growth and development of the country, tourism is an important sector for every national economy. Countries with developed tourism sector acquire more benefits than the countries with poorly developed or underdeveloped tourism. For assessment of the tourism development, multi-criteria decision-making techniques can be applied. In this paper, the tourism development of European Union (EU) Member States was analyzed based on selected travel and tourism industry indicators using Multi-Objective Optimization by Ratio Analysis (MOORA) and a new Additive Ratio Assessment (ARAS). The results indicate that Western and Southern European countries have the most developed tourism sector. Results also enable EU Member States to assess their relative position which might be of use to their policy makers. In Bevanda, V., & Štetić, S. (Eds.), 4th International thematic monograph: Modern management tools and economy of tourism sector in present era. Association of Economists and Managers of the Balkans in cooperation with the Faculty of Tourism and Hospitality, Ohrid, North Macedonia, pp.639-654