ABSTRACT
Purpose The purpose of this paper is to provide a critical synthesis of research conducted within the hospitality and tourism industries in response to the impact of the COVID-19 pandemic, identify key perspectives and themes relating to the recovery and resilience of the two sectors and put forward recommendations that help address organizational and consumer behavior changes produced by the pandemic. Design/methodology/approach This study adopted a critical reflection approach to identify, select and synthesize relevant research based on which recommendations are drawn. Findings This study offers a contemporary framework discussing three distinct themes that emerged from existing research regarding the impact of COVID-19 on the hospitality and tourism industries: management, marketing and consumer behavior. Practical implications This study offers operational, practical and actionable recommendations for organizations about how to adapt and recover from the impact of the COVID-19 pandemic by guiding the industry in sustaining long-term resilience. Originality/value This study provides a critical and current synthesis of selected literature and theory that discuss key implications of the COVID-19 pandemic for the recovery and resilience-building of the hospitality and tourism sectors.
ABSTRACT
Purpose - Scholars have not agreed with each other on how people would behave after experiencing a catastrophic event. They could save more as a precautionary action for future difficulties or save less with a carpe diem attitude. This study aims to attempt to shed light on this debate with empirical observations on how the Covid-19 pandemic has affected household saving decisions. Design/methodology/approach - The two waves of the survey data allowed us to investigate both instantaneous and ongoing effects of Covid-19 on household saving decisions. The instantaneous effect refers to the immediate impact of the crisis, while the ongoing effect refers to the lasting impact of the pandemic when economic recovery had started. The variation in the number of confirmed cases across cities during the two waves provides the source of power for identification. The authors extend their analyses of the impact of Covid-19 on the household saving decision by using ordinary least squares models. Due to the ordered nature of survey responses, the authors also rerun all baseline models using the ordered probit regression method. Findings - This paper studied the impact of the Covid-19 pandemic on household saving decisions in China. This study found that households in the most affected cities would save more during the Covid-19 but tend to save less when the disaster started fading away. Combining findings in Kun et al. (2013) and Filipski et al. (2015), people do become more pessimistic during and after the Covid-19, possibly driving their observed precautionary and cape diem behaviors during the two points of time. Heterogeneity analysis shows that specific households would dramatically change their saving behavior. These observations might be useful for policymakers who concern the economic recovery after this pandemic disaster. Originality/value - Understanding how the Covid-19 pandemic would affect household consumption vs saving decisions is important for the economic recovery after this disaster comes to an end. The analyses presented in this research could be useful for policymakers who concern appropriate policies aiming to boost consumption and economic activities after Covid.