The "new great depression" an Omen for tourism?
by Rigin Sebastian; Noufal Naheem Kottekkadan; P. Harish; Toney K. Thomas; Victor Wee Eng Lye
International Journal of Tourism Policy (IJTP), Vol. 13, No. 4, 2023

Abstract: This research report addresses the extraordinary economic circumstances created by the COVID-19 pandemic and the devastating war between Ukraine and Russia, which have led to a global recession and may even have plunged the world into a "Great Depression". The global economy is being seriously affected by increasing geopolitical tensions and policies that have impacted economic and trade relations; supply disruptions and economic decoupling; food shortages; and high prices for energy and other commodities. Current economic trends undermining global production, employment, and incomes are ringing alarm bells for the hard-hit tourism industry as the world tries to recover from the pandemic.

Online publication date: Thu, 13-Jul-2023

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