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The Impact of the Tourism Sector of a Country's Economic Downturn: Pre and Post COVID-19 Pandemic

Volume: 68  ,  Issue: 1 , January    Published Date: 23 January 2021
Publisher Name: IJRP
Views: 1401  ,  Download: 783 , Pages: 26 - 31    
DOI: 10.47119/IJRP100681120211638

Authors

# Author Name
1 Maria Czarina N. Alagon, MBA

Abstract

The outbreak of the Coronavirus Disease (COVID-19) pandemic causes significant damages globally. As it expands across nations, economic aspect got severely affected whereas, a lot of countries were enforced of mass closure that decline all kinds of travel around the world. Different tourism sector plays a major role in a country?s economy as it offers a wide range of benefits that can boost the revenue of the economy and could create thousands of direct and indirect employments in a country. Due to COVID-19 pandemic, the tourism sector around the world is now facing an economic downturn. The World Economic Outlook projected global economy would contract by 4.4 percent in 2020. The shock in tourism- dependent economies will be far worse. Among tourism- dependent Northern Hemisphere countries, Country X has been in the top 10 most visited country in the world unlike Country Y. Equally, the economic consequences of the coronavirus pandemic have meant tourists are less inclined to spend more, with many expecting their disposable income to continue to fall in the succeeding months. Country X is recommended to review the different response plans of other countries in terms of a viral outbreak. It is also highly recommended that ?Travel Bubble? concept should also be considered for countries to initially jumpstart the tourism industry. The tourism industry, just like any other industry faces one universal truth: life after the pandemic will look significantly different.

Keywords

  • Tourism
  • gross domestic product
  • Covid-19 Pandemic
  • Tourism
  • Economic Downturn