| By: |
Barkas, Panagiotis;
Honeck, Dale;
Rubio, Ester |
| Abstract: |
In this paper, we investigate tourism-related policy approaches that WTO
member countries adopted in the early weeks of the COVID-19 crisis. We
highlight the need for stakeholders to coordinate their responses in order to
mitigate the negative crisis effects and better prepare the sector for the
future. In doing so, we explore the economic impact of potential tourism
scenarios, underlining both the demand and supply side effects of the crisis.
By compiling and organising information from a range of sources based on
information available at the time, the paper provides a systematic approach to
map and analyse tourism-related policies for 59 WTO Members across all
continents. Our findings confirm that: (i) almost 90% of the countries
analysed focused their tourism policy responses on economic stimulus measures
to mitigate the negative impacts of COVID-19 and facilitate a strong recovery;
(ii) more than half of the examined countries have taken financial measures to
support the sector through loans, tax deferrals etc.; (iii) less than a third
of the analysed countries enacted social and employment measures. |
| Keywords: |
travel,tourism,services trade,COVID-19,economic policy,monitoring,economic impact |
| JEL: |
F13 L83 O14 |
| Date: |
2020 |
| URL: |
http://d.repec.org/n?u=RePEc:zbw:wtowps:ersd202011&r=all |