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Impact of the COVID-19 crisis on European tourism

Author

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  • Lucie Plzáková
  • Egon Smeral

Abstract

The COVID-19 pandemic and the containment measures imposed damaged the world economy severely. As a consequence of the stringent restrictions on business and social life, as well as the consequent economic downturn, tourism demand has seen a unique dramatic slump in the year 2020. This study concentrates on analysing and forecasting demand for international travel of the euro area in terms of tourism imports. Starting out from a description of the key macroeconomic factors, it then analyses their effects on tourism demand and develops a forecast model using contemporary approaches considering asymmetric income elasticities of tourism demand. Scenarios are elaborated to project demand for foreign travel of the euro area until 2022.

Suggested Citation

  • Lucie Plzáková & Egon Smeral, 2022. "Impact of the COVID-19 crisis on European tourism," Tourism Economics, , vol. 28(1), pages 91-109, February.
    • Handle: RePEc:sae:toueco:v:28:y:2022:i:1:p:91-109
    DOI: 10.1177/13548166211031113
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    3. Ján Derco, 2022. "The Impacts of the COVID-19 Pandemic on the Tour Operator Market—The Case of Slovakia," JRFM, MDPI, vol. 15(10), pages 1-8, October.
    4. Marcus Roller, 2022. "Pre-Crisis Determinants of Tourism Resilience," Diskussionsschriften credresearchpaper39, Universitaet Bern, Departement Volkswirtschaft - CRED.
    5. Sanghyun Lee & Sounman Hong & Bong Gyou Lee, 2023. "Is There a Right Way to Lay Off Employees in Times of Crisis?: The Role of Organizational Justice in the Case of Airbnb," Sustainability, MDPI, vol. 15(5), pages 1-16, March.
    6. Luca Barbaglia & Lorenzo Frattarolo & Niko Hauzenberger & Dominik Hirschbuehl & Florian Huber & Luca Onorante & Michael Pfarrhofer & Luca Tiozzo Pezzoli, 2024. "Nowcasting economic activity in European regions using a mixed-frequency dynamic factor model," Papers 2401.10054, arXiv.org.

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