Revenues from Agritourism and their Determinants for the European Farms
Purpose: The main aim of this article is to show the revenues from agritourism and their determinants for the European farms. We answer the following questions: 1. How important are revenues from agritourism in relation to agricultural area, total revenues from output, inputs and family farm income for farms from the European Union in 2004-2022? 2. Does the importance of agritourism’s revenues change according to the geographical localization, economic size or type of farm production from the European Union in 2021? 3. What is the relation between agritourism’s revenues and other production, economic and financial categories (e.g., area, labour, costs, taxes, cash flow, investment)? Methodology: The research is based on the FADN (RICA) database. The scope of the research covers the years 2004-2022. The panel data models were used. Findings: The geographical location of the farm, its economic size and type of production determined revenues for the European agritourism farms. After conducting panel regression, it turns out that the revenues from agritourism are influenced by liabilities of the farm, and then there are differences between smaller and larger farms. Also each production type of farm had different determinants of revenues from agritourism. Assets and liabilities seemed to be the most important. Practical Implications: Revenues from agritourism is not a significant source of income for farms but it gives them a possibility to develop activity. It is worth knowing their importance and determinants, because farms are the main subject of the Common Agricultural Policy. Originality/Value: The article shows the income from agritourism according to the official financial data of the FADN database.