Financial Literacy of Hospitality Professionals

Financial literacy is an important asset for individuals. Undeveloped countries not only have issues with a lack of financial literacy among their citizens but countries with much stronger economies also may experience the same problem. Despite an abundance of studies that are focused on this subject, authors are not familiar with studies that concentrate on the financial literacy of hospitality professionals. This study attempts to determine if there are significant differences in the level of financial literacy among hospitality professionals based on gender, age, level of education, years of work experience, and hospitality segment. The results of the study show that knowledge of financial literacy depends on the age and level of education of individuals. Financial literacy self-assessment suggests that a hospitality segment where a person is employed and the level of education have the highest impact on the score, very closely followed by age.