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The Effect of Uncertainties on the Tourism Industry: A Literature Review

In: Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

Author

Listed:
  • Wenbo Meng

    (University of California, School of Social Science)

Abstract

Tourism is an extensive and intensive global industry of firms in various areas. Since tourism is a product of pleasure and business, it provides people an opportunity to enhance their living standards and offers many career choices. Nevertheless, tourism is fragile, and the damage caused by various social issues will cause severe consequences for the overall economy. To provide the public with a general review of the condition of tourism, this article discusses the impacts of three types of economic uncertainties on the tourism industry, including pandemic uncertainty, financial crisis, political policies, and the use of China as a case study during COVID-19 to talk about its impact on tourism sectors individually. Through analyzing multiple pieces of research conducted before, this paper aims to provide insights for people who are curious about the tourism sector, offer them an overview of the influences this sector may receive, and suggest practical ideas for officials to implement appropriate policies to recover the damages of economic slowdowns or disruptions in the future.

Suggested Citation

  • Wenbo Meng, 2022. "The Effect of Uncertainties on the Tourism Industry: A Literature Review," Advances in Economics, Business and Management Research, in: Faruk Balli & Au Yong Hui Nee & Sikandar Ali Qalati (ed.), Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), pages 601-608, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-052-7_70
    DOI: 10.2991/978-94-6463-052-7_70
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