THE ROLE OF CSR IN THE DEVELOPMENT OF SUSTAINABLE TOURISM IN SERBIA

Corporate social responsibility (CSR) is a strategy of companies to achieve competitive advantage through reducing a negative impact of their business on the society and environment. In contemporary highly polluted environment, increasing number of customers insist on products and services that are not threatening the natural environment. There are companies in Serbia ready to support the society and development of domestic tourism through CSR programs. CSR strategy becomes successful, sustainable and profitable only when it is in lockstep with a company's business model. Therefore, companies need to consider the influence of CSR strategy on their business performances and choose the one which brings the greatest benefit. The responsibility of a company towards environment strengthens its reputation, increases the value of corporate brand and ensures long-term sustainable development. The aim of this paper is to highlight examples of CSR approach of Serbian companies, especially hotels, and the impact on sustainable tourism development.