About this work
The collapse of international tourism threatened a major source of activity in emerging markets during the pandemic. Writing in July 2020, Jonathan Fortun and coauthors estimated that tourism could fall by 60 percent that year even under optimistic assumptions. They anticipated an uneven recovery, with Asia and Europe better positioned, while emphasizing that uncertainty over the pandemic made the outlook unusually fragile.
Abstract
The collapse of international tourism threatened a major source of activity in emerging markets during the pandemic. Writing in July 2020, Jonathan Fortun and coauthors estimated that tourism could fall by 60 percent that year even under optimistic assumptions. They anticipated an uneven recovery, with Asia and Europe better positioned, while emphasizing that uncertainty over the pandemic made the outlook unusually fragile.
Cite this work
Benjamin Hilgenstock, Elina Ribakova, Jonathan Fortun (2020). Macro Notes: EM Challenges - Tourism Comes to a Halt. Institute of International Finance.