The trends of tourism sector after COVID-19 period: A study of strategy and implications

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Abstract

In recent years, international economic growth has been slow. The influence of the COVID-19 pandemic on the world’s economies must be considered. COVID-19 is not only a risk to the public health sector, but it is also a serious threat to the entire global economy. The paper examines the diversification of tourism industry trends and volumes as a result of the COVID-19 pandemic. Furthermore, the paper presents the tourism industry’s contribution to economic development, as well as its levels and trends before, during, and after the period of COVID-19 pandemic, along with predictions for the future transformation of tourism trends (International Monetary Fund [IMF], 2021; Organisation for Economic Co-operation and Development [OECD], 2022). The main contribution of this paper to the existing literature is the addition of new and more relevant views about COVID-19 and the tourism sector around the world by a comparative bibliographic review with a presentation of data on tourism and economic development and how COVID-19 affected the sector, the new normality of tourism, in order that tourism is a complex and very dynamic factor in the economic cycle of each country, at the same time to its influence on the social stability of each country as a whole.

Keywords: COVID-19, Tourism, Global Economy

Authors’ individual contribution: The Author is responsible for all the contributions to the paper according to CRediT (Contributor Roles Taxonomy) standards.

Declaration of conflicting interests: The Author declares that there is no conflict of interest.

JEL Classification: O10, Z30, Z32

Received: 30.09.2024
Accepted: 15.01.2025
Published online: 17.01.2025

How to cite this paper: Efthimiou, S. G. (2025). The trends of tourism sector after COVID-19 period: A study of strategy and implications. Corporate & Business Strategy Review, 6(1), 119–133. https://doi.org/10.22495/cbsrv6i1art12