CHANGES OF PRODUCTIVITY IN THE TOURISM SECTOR OF THE EU BEFORE THE PANDEMIC- IMPLICATIONS FOR POLICIES AFTER COVID-19
CHANGES OF PRODUCTIVITY IN THE TOURISM SECTOR OF THE EU BEFORE THE PANDEMIC- IMPLICATIONS FOR POLICIES AFTER COVID-19

Summary/Abstract: The constraints caused by the fight against COVID-19 have hit the tourism sector the hardest of all. The tourism industry's backbone services, such as accommodation and catering, but also the services partially related to transport, arts and entertainment have declined by tens of percent year-on-year. The business environment plays an important role in achieving economic growth. Tourism is also a key sector contributing to economic growth. We can conclude that tourism is one of the worst affected areas. Under various restrictive measures introduced by governments and national authorities, the number of foreign and domestic tourists has fallen. Using descriptive and sampling statistical methods, we will assess the significance of pandemic-related changes at EU country level. Based on these findings and an evaluation of measures against the spread of the coronavirus, we apply regression modelling to identify the impact of these decisions on the performance of tourism indicators. We decided to quantify the efficiency of investments and subsidies to rescue and revitalize tourism entities. Based on the results, we reached conclusions that contribute to the prosperity of tourism in the European countries. EU countries should invest primarily in infrastructure. Country leaders should promote the idea of sustainable 'green' tourism on the basis of improving the conditions for doing business in this area.

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