University of tourism and management

What University of tourism and management does

University of Skopje (Универзитет Скопје), formerly University of Tourism and Management (UTMS), is a private higher education institution founded in 2006 in Skopje, North Macedonia, and rebranded to its current name in September 2023. The university operates five faculties — Tourism, Economics, International Marketing Management, Human Resources Management, and Informatics — supplemented by two research institutes (Institute for National Geography and Institute for Business and Management), doctoral studies, and an annual international scientific conference (ICONBEST) and peer-reviewed Journal of Economics. It is accredited by the North Macedonian state across all three Bologna cycles, holds UNWTO TedQual certification (confirmed three times since 2016), and is an affiliated member of the UN World Tourism Organization.

The institution's core technology stack consists of an electronic student information system (e-Student) for enrollment and grading — implemented with a 200,000 EUR investment from the Prof. Dr. Ljube Milenkovski Fund and benchmarked against the University of Rijeka — and a digital e-Library platform. These are administrative/operational systems rather than research or AI-driven platforms.

The business model is tuition-driven and recurring: students pay 61,500 denars per semester for first-cycle (undergraduate, 4+1 year) and second-cycle (master's) programs, with a foundation providing full (6,000 EUR) and partial (3,000 EUR / 1,500 EUR) scholarships. Go-to-market is direct-to-consumer via online enrollment, Open Days (approximately 500 attendees annually), social media, and word-of-mouth referrals from a multi-thousand-strong alumni network. The university is founder-led by Rector Prof. Dr. Ace Milenkovski, with no external private equity or parent company ownership and an employee base of 37. Revenue is not publicly disclosed.

Name

University of tourism and management

Legal name

Универзитет Скопје

Website

https://utms.edu.mk

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

University of Skopje (formerly UTMS) is a private North Macedadian higher education institution founded in 2006, serving ~290 annual undergraduate and postgraduate students across five faculties via tuition-funded, campus-based delivery in Skopje.

Ownership category

akta.pro rank

Product category

Higher Education

NAICS

Colleges, Universities, and Professional Schools (611310), Colleges, Universities, and Professional Schools (61131), Educational Services (611)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Online For-Profit Career Universities (EDAHALAJ)

Keywords

• Higher education services
• Private university programs
• Tourism management education
• Business and economics degrees
• Postgraduate university studies

Headquarters

HQ city

Skopje

HQ country

North Macedonia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Tuition and Fees: The university generates revenue primarily through tuition fees charged per semester for undergraduate and graduate programs. Tuition for first cycle (undergraduate) studies is 61,500 denars per semester, and similarly for second cycle (master's) studies.

Pricing tiers

Go-to-market motion3 records

Distribution channels1 record

Marketing channels4 records

Core offering

University of Skopje (formerly University of Tourism and Management) is a private higher education institution that delivers undergraduate, postgraduate, and doctoral degree programs across five faculties: Tourism, Economics (including Finance, Banking and Insurance), International Marketing Management, Human Resources Management, and Informatics. It supplements teaching with electronic student administration, an e-library, the Erasmus+ mobility program, and an authorized ESB English language certification center, charging tuition of 61,500 denars per semester.

Product overview

University of Skopje (formerly University of Tourism and Management Skopje - UTMS) is a private higher education institution offering a multi-faculty structure across five core faculties: Faculty of Tourism, Faculty of Economics (with Finance, Banking and Insurance specializations), Faculty of International Marketing Management, Faculty of Management of Human Resources, and Faculty of Informatics. The institution operates supplementary digital service platforms including the E-student system for academic administration and an E-Library for digital resources. Professional development services include an authorized ESB Certification Center for English language testing. The university provides student support through a scholarship foundation and facilitates international mobility via the Erasmus+ program. Research activities are supported through the ICONBEST international conference and the Journal of Economics publication. Two research institutes (Institute for National Geography and Institute for Business and Management) operate under the university's patronage, alongside doctoral studies and alumni networking services.

Differentiator

Problem solved

Functional benefit

Products and services

• Faculty of Tourism (Факултет за туризам) Undergraduate and graduate degree programs focused on tourism management, hospitality, and tourism industry practices, offered to prospective students in North Macedonia and the wider region.
• Faculty of Economics (Економски факултет) Programs in Finance, Banking and Insurance; Economics; and International Marketing Management, offering both undergraduate and postgraduate studies for students pursuing business and finance careers.
• Faculty of International Marketing Management (Факултет за меѓународен маркетинг менаџмент) Degree programs focused on international marketing strategies and management practices for students seeking careers in global marketing.
• Faculty of Management of Human Resources (Факултет за менаџмент на човечки ресурси) Programs focused on human resource management, organizational behavior, and workforce development for students targeting HR and organizational leadership roles.
• Faculty of Informatics (Факултет за информатика) Four-year undergraduate and two-year postgraduate programs in informatics, computer science, and information systems for students pursuing IT careers.
• Doctoral Studies (Докторски студии) Third-cycle doctoral degree programs across various disciplines for advanced academic research and qualification.
• ESB Certification Center (ESB тренинг и испитен центар) Authorized training and examination center for ESOL International English language certifications (A1-C2 levels) delivered in partnership with English Speaking Board International, recognized by Ofqual, UCAS, QCF, SQA, and the British Council.
• Foundation Scholarship 'Prof. Dr. Ljube Milenkovski' (Фондација и стипендии) Scholarship fund providing full and partial scholarships to talented students, including 20 full scholarships of 6,000 EUR annually, and additional partial scholarships reducing tuition by 50% or 25%.
• Erasmus+ International Mobility Program European student and faculty exchange program providing mobility with partner universities in Spain, Italy, Turkey, Poland, and the Netherlands for enrolled students.
• Institute for National Geography 'Prof. Dr. Ljube Milenkovski' (Институт за национална географија) Research institute focused on geography and spatial studies, operating under the university's patronage.
• Institute for Business and Management (Институт за бизнис и менаџмент) Research institute focused on business studies and management research operating under the university's patronage.

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

16 partnerships are on record, tiered minor and core.

• Agricultural University of PlovdivminorStrategic or Co-development Partner · 1 November 2023Partnership for academic cooperation with agricultural university in Bulgaria as part of the university's strategic focus on international university collaborations
• Hospitality-Tourism School from OpatijaminorStrategic or Co-development Partner · 1 December 2022Cooperation agreement signed with the Hospitality-Tourism School from Opatija, Croatia, represented by professor-mentor Zagorka Ivankovic
• University of Telecommunications and Posts from SofiaminorStrategic or Co-development Partner · 1 June 2022Memorandum for international cooperation with University of Telecommunications and Posts from Sofia, Bulgaria
• University of Szeged, Faculty of Economic and Business AdministrationminorStrategic or Co-development Partner · 1 March 2022Memorandum for international cooperation signed with the Faculty of Economic and Business Administration from University of Szeged, Hungary
• International University of Tourism Silk Road in SamarkandcoreStrategic or Co-development Partner · 1 May 2021Visit to Uzbekistan led by Rector Prof. Dr. Ace Milenkovski meeting with Deputy Prime Minister of Uzbekistan, Aziz Abdoukhakimov. Cooperation agreement signed for academic mobility of students and academic staff
• ESB (English Speaking Board)coreTechnology or Integration · 1 February 2021University of Skopje became an authorized center for obtaining internationally recognized ESB language certificates for English knowledge at levels A1-C2 according to CEFR, with exclusive representative FILIP M from Bitola
• University of Dąbrowa GórniczaminorStrategic or Co-development Partner · 1 March 2020Rector Prof. Dr. Ace Milenkovski signed cooperation agreement with Vice-Rector for International Cooperation Prof. Dr. Rafal Rebilas from University of Dąbrowa Górnicza, Poland
• University Pope John Paul II from Biala PodlaskacoreStrategic or Co-development Partner · 1 October 2017Cooperation agreement signed. Rector of UTMS became member of Editorial Board of Economic and Regional Studies journal, while rector of University Pope John Paul II joined Editorial Board of UTMS Journal of Economics
• University of ValenciacoreStrategic or Co-development PartnerErasmus+ partner university in Spain. Students can study one semester at this university through exchange programs
• La Sapienza University from RomecoreStrategic or Co-development PartnerErasmus+ partner university in Italy. Students can study one semester at this university through exchange programs
• University of Bulent Aysevit from ZonguldakminorStrategic or Co-development PartnerErasmus+ partner university in Turkey
• Maastricht School of ManagementcoreStrategic or Co-development PartnerPartnership for joint diploma program at second cycle of studies for International Relations study program, working on joint diploma implementation
• University of Rijeka and Faculty of Tourism and Hospitality ManagementcoreTechnology or IntegrationPartner university that provided training for the electronic student information system implementation. The Fund invested 200,000 EUR for the system installation and implementation
• Macedonian Olympic CommitteeminorOthersMemorandum of cooperation signed for scholarships for top athletes to pursue postgraduate master's studies
• UNWTO/UN TourismcoreStrategic or Co-development PartnerAffiliated member of World Tourism Organization at the United Nations. Multiple visits including by UNWTO Secretary General Taleb Rifai, Director of Affiliate Members Javier Blanco, and Executive Director Yolanda Perdomo. University participates in General Assembly and FITUR tourism fair annually
• Lion's Club InternationalminorOthersSeven-day stay in the country organized for students from different countries, proposed by the international organization Lions through FTS Travel, with humanitarian activities at international level

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Regional players

• South East European University (SEEU): Tetovo-based private university with multi-faculty English-language instruction including business, economics, and tourism. Competes in the same North Macedonian market for international and domestic students.
• International Burch University: Sarajevo-based private university offering English-taught business, economics, and IT programs. Comparable as a regional private higher education peer targeting the same Western Balkans student pool.
• Epoka University: Tirana-based private university with English-language programs in business, economics, and IT. Comparable Western Balkans private peer competing for international students in the region.
• American University in Bulgaria (AUBG): Blagoevgrad-based private liberal arts and business university. Comparable as a regional private higher education peer with strong international positioning in the Western Balkans.

Broad incumbents

• Les Roches International School of Hotel Management: Swiss-based global hospitality school with strong tourism/hospitality degree programs. Comparable as a broader incumbent in tourism higher education with international recognition.
• MODUL University Vienna: Austrian private university specializing in tourism, hospitality, and business management. Comparable as a focused international tourism higher education peer with similar degree portfolio.
• Vatel International Business School of Hotel and Tourism Management: Global network of hospitality and tourism management schools. Comparable as a broader incumbent in tourism higher education with international TedQual-aligned positioning.

Direct peers

• European University - Skopje: Skopje-based private university with multi-faculty structure including economics, business, and informatics. Competes for the same fee-paying North Macedonian students and is also Erasmus+ active.
• University American College Skopje (UACS): Private higher education institution in Skopje offering business, law, informatics, and tourism-adjacent programs in English. Comparable as a private, fee-paying, internationally-oriented competitor in the same city.
• FON University: Skopje-based private university offering business, IT, and management programs to the same domestic high school graduate pool. Directly comparable as a private, for-profit higher education competitor in North Macedonia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@univerzitetskopje
• Facebookfacebook.com/univerzitetskopje
• LinkedInlinkedin.com/company/university-of-tourism-and-management

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about University of tourism and management