Tourism Economic Policy, COVID-19 Restrictions and Estimated Economic Impact the Industry

Abstract

Introduction: Tourism Industry is a developing, extensive industry and therefore involving many sectors of the economy. In recent years, the growth of this industry has been almost impossible to conquer since the touristic travels were significantly high for example in 2019; in that year, the Travel & Tourism sector contributed 10.4% to global GDP.

The world’s well-known circumstances have critically affected the development of tourism. One of the irresistible goals for developing countries has become – to find the right approach, a policy to prevent a catastrophic recession.

Aim: Based on empirical research, on the example of country Georgia, the main aim of this work is to analyse the regional approach to identify positive and negative influences on the field and, therefore, calculate the economic impact.

Method: Empirical research includes a collection of the data from statistical portals of the local, Georgian Tourism Administration as well as from the World Tourism Organization and, therefore, analysis of the collected data.

Findings: The results included research materials – analysis of the three pandemic years 2019–2020–2021 (first decade) that clearly showed the willingness and public policy impact on the industry development.

Citation

Diakonidze, M. (2022), "Tourism Economic Policy, COVID-19 Restrictions and Estimated Economic Impact the Industry", Grima, S., Özen, E. and Boz, H. (Ed.) The New Digital Era: Other Emerging Risks and Opportunities (Contemporary Studies in Economic and Financial Analysis, Vol. 109B), Emerald Publishing Limited, Leeds, pp. 13-20. https://doi.org/10.1108/S1569-37592022000109B002