The economic effects of global crises on tourism: A study on the COVID-19 pandemic

Tourism is a vulnerable industry that easily suffers from any adverse conditions in its internal and external environment. Every situation can lead to a decrease in tourist demand and a loss of revenue for tourism businesses. Global crises, due to their international nature, inflict even greater damage on tourism. These damages result in economic crises caused by a decrease in tourism activity. The COVID-19 pandemic, declared as a global crisis in 2019, has negatively affected both social and working life. Like all sectors, the tourism industry has experienced significant economic difficulties during this period. The purpose of this study is to reveal the economic effects of the COVID-19 pandemic on the tourism industry. In line with this aim, managers working in four- and five-star hotel establishments in Istanbul constitute the sample of the research. Data were collected through semi- structured interviews conducted face-to-face with tourism managers. The collected data were analyzed through logical themes. The research findings indicate that hotel establishments faced economic problems during this period and took measures such as temporary or complete closure, employee layoffs, and cost reduction to cope with these problems. One of the significant challenges that businesses face even after the pandemic is the failure to rehire the employees who were laid off due to economic difficulties. This situation leads to a shortage of qualified personnel in the sector. Keywords: Global Crises, Covid-19, Covid-19 in the Tourism Sector