The COVID-19 multiplier effects of tourism on the German and Spanish economies

Nikolaos Rodousakis () and George Soklis
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Nikolaos Rodousakis: Centre of Planning and Economic Research (KEPE)

Evolutionary and Institutional Economics Review, 2022, vol. 19, issue 1, No 23, 497-510

Abstract: Abstract Based on a multisectoral model of single production and using data from the input–output tables, this paper estimates the COVID-19 tourism multiplier effects on output, employment and trade balance of the German and Spanish economies. It is found that the decrease of international travel receipts recorded in the year 2020 correspond to a decrease in GDP of about 0.58% in the German economy and a decrease in GDP of about 4.54% in the Spanish economy. The evaluation of the results reveals that the higher observed recession in the Spanish economy than in the German economy can be attributed to the relatively stronger dependency of the former on the highly vulnerable in the pandemic tourism industry.

Keywords: COVID-19; German economy; Matrix demand multiplier; Spanish economy; Tourism (search for similar items in EconPapers)
JEL-codes: C67 D57 E11 E61 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s40844-021-00222-4

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