COVID-19 and its impact on tourism sectors: implications for green economic recovery

The COVID-19 pandemic posed huge hurdles to green economic recovery and the tourism sector. This paper examines challenges in the Zhejiang, Fujian, and Shandong provinces of China' coastal tourism and green economic growth in the wake of the COVID-19 pandemic. To assess this impact, the study used econometrics models based on the Chinese provincial data from March 2020 to April 2021. According to the results, coastal tourism's related income fell drastically regardless of where the people live. Fisherman's earnings dropped by 26%, while captains and owner's earnings dropped by 49% on average. This also resulted in a shortage of food supply that endangered food security. During the pandemic, the number and duration of tourism trips dropped in all study locations. In addition, results indicated that in the wake of COVID-19, lower economic growth and recessions resulted in a significant decline in green investments. The paper proposes that to achieve green recovery and the recovery of the tourism sector, the local and central governments need to increase green investments and the literacy of the people in charge of coastal tourism.

Investigating the Impact of the External Environment and Benchmark Characteristics on the China-Pakistan Economic Corridor's Construction: A COVID-19 Perspective.

The economic stability of a country, such as Pakistan is dependent on the construction of mega-projects, such as the China-Pakistan Economic Corridor (CPEC). However, certain external factors and project characteristics may delay the construction of infrastructure projects; scholars have not investigated the development of CPEC from this perspective. In addition, the COVID-19 outbreak has hindered CPEC initiatives. This analysis will examine the effect of external environment factors on CPEC, and benchmark the project's effects on economic stability through CPEC's development by incorporating 523 samples obtained from employees of various CPEC projects. Structural equation modeling was used to analyze all hypotheses proposed here on AMOS 21.0 tools. According to the findings of this study, the CPEC external environment and project benchmark characteristics have a negative effect on the construction of CPEC development. Furthermore, the development of CPEC is found to have a significant effect on economic stability. However, fear of COVID-19 has weakened the relationship between CPEC development and economic stability. Finally, we also discuss the implications and limitations of the study.

The Significant Effects of the COVID-19 on Leisure and Hospitality Sectors: Evidence From the Small Businesses in the United States.

This paper uses the daily seasonally-adjusted data for net revenues and openings of small businesses in the accommodation, food services, leisure, and hospitality sectors in the United States from January 10, 2020, to June 24, 2021. The results from the Dorta-Sanchez bootstrap unit-root test for a random walk with drift show that the COVID-19 crisis has significantly affected revenues and openings of small leisure and hospitality firms. Moreover, the results remain valid when the data for the national level and 51 states are considered.

Effects of Pandemic Outbreak on Economies: Evidence From Business History Context.

The coronavirus pandemic has highlighted the capitalist dysfunction showing that considering profit over people can be deadly. The study reveals the LME economies were more responsive toward the impact of the disease outbreaks as compared to the CME economies wherein the impact of the disease was moderated by the government involvement. This allows us to draw that the impact of the disease outbreaks can be moderated by increasing the involvement of the government authorities.