Examine the nexus between covid-19 and tourism: evidence from Beijing

Abstract

The novel Covid-19 outbreak has adversely affected every sector of the economy, including the tourism and hospitality sectors.Holding the importance as one of the leading contributors to economic growth, and accommodating a large percentage of the labor force, this study has investigated the impact of Covid-19 on the tourism economy of Beijing (the capital of China), which is one of the leading tourist destinations of China. For this purpose, primary data with 385 sample sizes have been collected via random sampling techniques from the tourism-related respondents. This data has been analyzed using the simple descriptive analysis, graphical estimations, and categorization techniques. The findings of the study show that Covid-19 exerts a negative influence on the tourism and hospitality sector. Specifically, a reduction in the international tourists' arrival has reduced revenue generation, indirectly reducing the contribution to the GDP by many factors. These factors include an increase in the unemployment ratio, cutoff salaries, increases in expenditures, and a decline in the tax payments. However, lack of adequate response from the government in the context of the tourism sector has further fueled the adverse outcomes of Covid-19, leading the industry to a shutdown condition for most firms in this geographical area.

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“…On the other hand, Guangzhou, as a major economic and trading center in South China, provides a view on how economic growth correlates with hospitality trends. The selection of these cities is justified by their diversity as well as the potential insights they can offer into different aspects of food-wastereduction behaviors in the hospitality sector within the broader context of China's economic and cultural landscape [46].…”

Uncertainty due to pandemics and epidemics and the behavior of Travel & Leisure stocks in the UK, the USA and Europe

“…, 2020; Nicola et al. , 2020), the hotel industry, economic livelihoods, public services and so on (Cheng et al. , 2021).…”

“…One of the important discoveries of research on pandemics is the central role travel (especially air travel) and tourism play in the spread of diseases and the dramatic effect its economic consequences has on it (Hon, 2013;Khan et al, 2009;Kock et al, 2020;Lin and Falk, 2021). In particular, The COVID-19 pandemic has had a great impact on the tourism economy, affecting the airline industry (Kock et al, 2020;Nicola et al, 2020), the hotel industry, economic livelihoods, public services and so on (Cheng et al, 2021). Employing the quantile regression approach to model the nexus between COVID-19 and the travel and leisure industry, Lee and Chen (2022) find that COVID-19-related deaths are more responsible for the negative T&L stock returns at most of the quantiles than the impact from confirmed cases.…”