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Does the size of the tourism sector influence the economic policy response to the COVID-19 pandemic?

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  • Usman Khalid
  • Luke Emeka Okafor
  • Katarzyna Burzynska

Abstract

The COVID-19 pandemic has resulted in an unprecedented slowdown of economic activity worldwide, with an especially negative impact on the tourism sector. The adoption of international travel restrictions to contain the spread of the COVID-19 outbreak has brought much of the global tourism industry to a virtual standstill. Governments have introduced a range of economic stimulus packages designed to mitigate the negative effects of the pandemic, including its impact on travel and tourism. This article investigates whether the size of the tourism sector influences the economic policy response to COVID-19 pandemic using data from 136 countries. The findings show that the larger the tourism sector, the larger the economic stimulus package introduced by governments globally. Furthermore, we find that the size of the tourism sector is positively associated with both fiscal and monetary policy responses to the pandemic. The findings suggest that countries with larger tourism sectors adopted more aggressive economic stimulus packages to mitigate the impact of COVID-19 pandemic and reinvigorate floundering economies.

Suggested Citation

  • Usman Khalid & Luke Emeka Okafor & Katarzyna Burzynska, 2021. "Does the size of the tourism sector influence the economic policy response to the COVID-19 pandemic?," Current Issues in Tourism, Taylor & Francis Journals, vol. 24(19), pages 2801-2820, October.
    • Handle: RePEc:taf:rcitxx:v:24:y:2021:i:19:p:2801-2820
    DOI: 10.1080/13683500.2021.1874311
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    Cited by:

    1. Li, Ying & Wen, Ting, 2024. "Psychological mechanism of forest-based wellness tourism decision-making during the prevention and control of COVID-19," Forest Policy and Economics, Elsevier, vol. 160(C).
    2. Giorgio Gnecco & Sara Landi & Massimo Riccaboni, 2024. "The emergence of social soft skill needs in the post COVID-19 era," Quality & Quantity: International Journal of Methodology, Springer, vol. 58(1), pages 647-680, February.
    3. Takumi Tagashira, 2023. "Signal effect of a targeted travel subsidy on consumer behavior during the coronavirus disease 2019 pandemic," Marketing Letters, Springer, vol. 34(3), pages 483-496, September.
    4. Muhammad Shafiullah & Usman Khalid & Luke Emeka Okafor, 2023. "Do birds of a feather flock together? Analyzing environmental performance and tourist behavior using a gravity approach," Tourism Economics, , vol. 29(5), pages 1139-1163, August.
    5. Jorge Arnanz & Vicente Ramos & Javier Rey-Maquieira & Akarapong Untong, 2024. "Unravelling the effects of disruptive crises on residents’ support for tourism. Lessons from COVID-19," Tourism Economics, , vol. 30(4), pages 924-946, June.

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