Resilience of the Tourism, Restaurant and Hospitality Sector in Indonesia during the Crisis Period

Abstract

The tourism, restaurant and hotel industries are among the sectors that have been hit hardest by the impact of the Covid-19 pandemic. This was proven by a decrease of 5.32% due to the decreasing purchasing power of the people and concerns about government regulations regarding large-scale social restrictions (PSBB) which had an impact on many companies going out of business. These conditions resulted in companies engaged in the hotel, tourism and restaurant sector experiencing enormous losses so that they could no longer survive or what is referred to as financial distress. This study aims to analyze the financial distress of companies impacted by the Covid-19 pandemic, including hotels, tourism and restaurants using a quantitative descriptive research method. The data collection technique uses purposive sampling and the data used is secondary data in the form of published financial reports for the period 2019 – 2021. Data analysis uses the Altman Z-Score discriminant ratio model. From the tests that have been carried out there are various companies. And for companies that are consistently in a safe area, including FAST, MINA, NASA, PGJO, PSKT, and PZZA.

The Influence of Internal Audit and Risk Control on Crisis Management in the Tourism Industry in Indonesia

“…However, the industry is vulnerable to various risks, including natural disasters, political turmoil, health crises, and economic downturns, which can disrupt operations and threaten its economic contribution [2]. The Covid-19 pandemic has had a particularly severe impact on the tourism sector in Indonesia, leading to a decline in tourist visits, business closures, and financial difficulties for many companies [3], [4]. To ensure the sustainable development of the tourism industry, it is imperative to understand and manage these risks effectively [5].…”