The impact of the COVID-19 crisis on tourism flows is without precedent in terms of speed and severity. In this paper, we try to infer a possible future scenario for the tourism sector, evaluating the medium-term effects of past pandemics on tourist arrivals. We find that pandemics lead to a persistent decline in tourist arrivals, with the effects being larger in developing and emerging countries. Interestingly, the effects are heterogeneous across countries and episodes, and depend on several economic conditions such as the overall health system performance, the severity of the shock, and the uncertainty induced by the pandemic event.
Keywords: COVID‐19; health systems; international arrivals; pandemics; tourism; uncertainty.
© 2021 The Authors. The World Economy published by John Wiley & Sons Ltd.