Economic policies to overcome the COVID-19 tourism crisis
Keywords:
COVID-19, crisis, tourism, economic policyAbstract
The severity and persistence of the tourism crisis associated with COVID-19 has prompted governments to pay special attention to tourism in the design of economic policy. In this sense, the basic purpose of this article is to identify the characteristics of the programs implemented for the reactivation of tourism and, more specifically, their objectives, their instruments and their main recipients. The methodological framework used is the one provided by conventional economic analysis, which is justified, among other reasons, by the emphasis of public authorities on the recovery of economic activity related to tourism. Thus, the analysis of the implemented measures confirms the prominence of fiscal and financial instruments intended to support companies and, particularly, SMEs. The actions aimed at maintaining the employment and income of workers are also noteworthy. In any case, although this type of action can help cushion the impact of the crisis, there is also the risk that a part of the aid will be received by companies that are doomed to leave the market, hence compromising the social profitability of public resources. After the pandemic, it seems that the leading role would have to shift to other policies such as promotion policies, where coordination between the different levels of public administrations, public-private collaboration and the participation of the media are fundamental tools to recover the confidence of tourists.
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