Reformulation of economics by physics has been carried out intensively to reveal many features of the asset market, which were missed in the classical economic theories. The present paper attempts to shed new light on this field. That is, this paper aims at reformulating the international trade...

Tourism and hotel business is becoming one of the leading industries of the world. Therefore, an increased attention needs to be paid to the study of trends in tourism because they determine the trends in hotel industry. The purpose of the paper is to point out the importance of hotel industry...

The text deals with the position of small countries, defined as countries with populations under 16 million, in today's globalized world. Their advantages and disadvantages, but especially the opportunities that globalization offers these countries, are discussed. Small countries can overcome...