The impact of the COVID-19 pandemic on revenues of visitor attractions: An exploratory and preliminary study in China

Ling-en Wang, Bing Tian, Viachaslau Filimonau, Zhizhong Ning and Xuechun Yang
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Ling-en Wang: Chinese Academy of Sciences, China
Bing Tian: Nanjing Normal University, China
Viachaslau Filimonau: Bournemouth University, UK
Zhizhong Ning: Institute of Geographic Sciences and Natural Resources Research, Chinese Academy of Sciences
Xuechun Yang: Capital Normal University, China

Tourism Economics, 2022, vol. 28, issue 1, 153-174

Abstract: The COVID-19 pandemic has made a detrimental impact on various tourism subsectors. The financial consequences of this impact should be carefully evaluated to set benchmarks for industry recovery. This study assessed the financial impact of the pandemic on the tourism subsector of visitor attractions in China; 4222 A-grade visitor attractions accounting for over one-third of the national market were surveyed. Data triangulation was subsequently applied to undertake a comprehensive assessment of potential revenue loss. Triangulation was based upon the (1) lost revenue estimates made by tourist attractions’ administrations, (2) reverse estimation of past macroeconomic data, and (3) expert opinion estimates. The assessment results demonstrated that A-grade visitor attractions in China may have lost up to 140 billion RMB (circa US$21 billion) due to COVID-19, with up to 65% of all losses incurred in the first quarter of 2020. The scale of revenue loss varied significantly depending on visitor attraction’s grade, type, and location. Potential strategies for industry recovery are discussed.

Keywords: crisis management; disaster management; data triangulation; economic damage; visitor attraction; China (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:28:y:2022:i:1:p:153-174

DOI: 10.1177/13548166211027844

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