Economic impacts of Covid-19 related changes in tourism

Abstract

The Covid-19 pandemic has led to unprecedented disruption for the tourism industry. The economic consequences of changes in tourism spending will propagate through the whole economy, however the scale of these system-wide consequences can be hard to quantify. In this paper, we calculate the direct reductions in spending across different tourism categories including domestic, and international tourism and then use a computable general equilibrium (CGE) model to quantify their economic impacts. The results – illustrated using a model for Scotland and focusing on 2021 - demonstrate the scale of the losses in the tourism industry and the economy as a whole and the challenge for economic and tourism policy to mitigate the consequences of the Covid-19 pandemic in the future.

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http://creativecommons.org/licenses/by-nc-nd/4.0/

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Repository URI

https://strathprints.strath.ac.uk/82512/