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Pandemic, tourism, and the economy: a tourism-revenue target zone approach

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  • Meng-Yi Tai
  • Shih-Wen Hu
  • Chi-Chur Chao

Abstract

The COVID-19 pandemic has negatively affected the tourist markets of many countries. This study develops a small, open macro model of tourism to analyze the price and revenue effects of establishing tourism target zones on tourism revenue in response to industry disturbances resulting from the pandemic. Such target zones improve tourism revenue and stabilize the economy by stabilizing tourism goods prices and exchange rates when domestic or foreign demand is strong and regardless of whether national borders are open. A tourism goods price subsidy can be employed to revitalize the tourism industry and improve tourism revenue after the pandemic.

Suggested Citation

  • Meng-Yi Tai & Shih-Wen Hu & Chi-Chur Chao, 2023. "Pandemic, tourism, and the economy: a tourism-revenue target zone approach," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 30(6), pages 1659-1674, November.
    • Handle: RePEc:taf:raaexx:v:30:y:2023:i:6:p:1659-1674
    DOI: 10.1080/16081625.2023.2186902
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