Economic impact of COVID-19 on tourism and remittance
The lockdown experienced in many nations of the world as an attempt to curb Covid-19 has impacted the tourism sector considerably. Restrictions on movement have reduced revenue in the industry significantly. Countries that rely primarily on tourism have witnessed a reduction in their Gross Domestic Product. These countries will have to look for alternative options that will enhance and sustain the health and wealth of the nation. Otherwise, relying on the unpredictable effect of the Covid-19 is an unwise decision.
2 comments:
I believe international tourism will continue to see negative effects from the outbreak long after countries reopen their borders. There is a reasonable fear that has been created around traveling due to the push of social distancing and staying at home. Countries who rely primarily on tourism are in serious trouble. The fear from visitors and the caution from nations will make the tourism industry's recovery a long and difficult one.
I think that not only does this virus have an affect on international travel and those who rely on the tourism/travel industry, but it can have lasting affects on globalism in general. Countries across the world will now be more skeptical when it comes to letting in people from just anywhere and this can lead to more closed boarders and restrictions in general.
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