MINIPLIER AND ACCUMULATING USELESSNESS AS NEW REALITY OF TOURISM ECONOMY UNDER PANDEMIC

Abstract

Stemming from the statistical data on tourism trends during 2018-2020 and author’s own methodology of calculating the efficient tourist multiplier, to determine regularities and factors behind the reaction of the leading world economies to the critical fall in tourist services production under the coronavirus pandemic conditions. The research study is based on the statistical analysis of tourists’ spending impacts on the dynamics of nominal GDP in 48 countries of the world and also on the author’s own approach to determining the efficient tourist multiplier (miniplier in this case) as well as on the hypothesis about the accumulating uselessness of tourist services production. We have detected regularities in the dynamics of tourist multiplier as well as in restructuring of tourist services production in the leading economies of the world under the conditions when the tourist market environment was critically worsening. In the research the trends of tourist multiplier for 2018-2020 were determined and also recommendations on modernization of the state regulation system as well as on corporate strategizing were offered, taking into account the author’s methodology of measuring the tourism efficiency multiplier (miniplier) and accumulating uselessness of tourist services production under crisis.

Keywords

• medical tourism
• healthcare
• medical services
• insurance
• thailand
• russia