Forecasts design for management of travel&tourism industry sustainable development and mitigation of the consequences of the COVID-19 pandemic

Abstract

Restrictions on transportation between countries because of the lockdown caused by COVID-19 have slowed down economic activity worldwide. Therefore, in this paper we examine and estimate the short-term economic impact of the COVID-19 pandemic on the global market situation in terms of the international tourism industry. The purpose of the study is to analyze the current economic situation of the world tourism sector, which suffered the most because of the COVID-19 pandemic, determine the main tourist flows (inbound and outbound tourism) and identify main tourism trends that characterize travel and tourism in world in 2020, to form practical directions for improving the tourism industry, domestic tourism in particular. The dynamics of the international tourists’ destinations with complete/partial closure of borders and other restrictions through the region in 2020 during the COVID-19 pandemic are analyzed. The major trends in the tourism sector during the corona crisis are highlighted.