The Impact of the Covid 19 Pandemic on the Economy with Focus on GDP in Selected Countries and the Affection on the Tourism

Authors

  • Fluturim Saliu Faculty of Economics, University of Tetovo, N. Macedonia
  • Mislim Zendeli Faculty of Economics, University of Tetovo, N. Macedonia

Keywords:

Covid 19 pandemic, global economy, transport stagnation, tourism

Abstract

At the end of 2019, a new virus caused by the SARS-KOV-2 virus (Covid 19 / coronavirus) appeared in China. In 2020, it spread around the world and a new pandemic appeared, which caused problems in the global economy, rising unemployment, market stagnation, declining tourist demand and the like. As a result of the Covid 19 virus crisis, many industries have seen their production decline, halting their activities. The products sector ceased to exist, exports and imports of goods were carried out to a minimum, which is why it applies to economies. In addition, almost all European countries have introduced some form of reduced population movement, which has directly affected tourism, but the crisis caused by the Covid 19 virus has continued to spread around the world. Today, there is still uncertainty and risk associated with the continued functioning of the economy, especially in the field of tourism and society as a whole due to the continuous spread of the Covid 19 virus, in all economic and business sectors.

This paper tries to show how the global crisis has affected and still affects various economic and tourism factors that are important for the functioning of society, the connection of transport, the inclusion of tourism and culture. Studying the literature, the purpose of this paper is to show how the Covid 19 pandemic affected the economies of Italy, Croatia, Albania and North Macedonia. The goal of each of these countries is for the others who are not included in the research for this particular paper, to be able to implement the growth strategy and the stabilization strategy as soon as possible, in order to normalize these countries as soon as possible, i.e. to suppress the negative consequences of the Covid virus 19, which differ between the countries in the world.

References

Cosic, K., Fabac, R. (2001): Economic Review; Economic Growth, Technological Development and Modern Education, Faculty of Electrical Engineering and Computing, University of Zagreb, Vol. 52 No. 5-6, p. 516-544

Sikavica P. (2011): Organization, Zagreb: School book

Sundac, D., Shkalamera-Alilovic, D., Babic, M. (2016): Business Environment and Intellectual Capital, Rijeka: Faculty of Economics, University of Rijeka

Edvinsson, L. (2003): Korporacijska longituda, Zagreb: Differo

Miteva-Kacarski, E., Panova, K., Georgieva Svrtinov, V., The Impact of Kovid 19 on the trade in services, Annual Proceedings of the Faculty of Economics at the University Goce Delchev - Stip, p. 55-61

WTO (2019), World Trade Report 2019: The Future of Services Trade, Geneva: WTO

https://www.ceicdata.com/en/indicator/italy/nominal-gdp

https://www.statista.com/statistics/1101025/impact-of-coronavirus-covid-19-on-tourist-arrivals-in-italy-by-region/

https://www.ceicdata.com/en/indicator/croatia/real-gdp-growth

https://www.statista.com/statistics/1130778/number-of-monthly-arrivals-short-stay-accommodation-in-croatia/

https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?locations=AL)

https://www.ceicdata.com/en/indicator/albania/real-gdp-growth

https://www.statista.com/statistics/1014197/outbound-tourism-from-albania/

http://databaza.instat.gov.al/pxweb/en/DST/START__TU/TU0001/chart/chartViewLine/

https://www.ceicdata.com/en/indicator/macedonia/nominal-gdp

https://www.statista.com/statistics/1131126/number-of-monthly-arrivals-short-stay-accommodation-in-north-macedonia/

http://www.oecd.org/about/Secretary-General/extraordinary-g20-tourism-ministerial-virtual-meeting-april-2020.htm

https://www.unwto.org/news/international-tourism-arrivals-could-fall-in-2020;

https://wttc.org/Portals/0/Documents/WTTC%20Coronavirus%20Brief%20External%2026.05.pdf?ver=2020-05-26-124919-680;

https://www.unwto.org/impact-assessment-of-the-covid-19-outbreak-on-international-tourism and https:// webunwto.s3.eu-west-1.amazonaws.com /s3fs-public /2020-05Barometer _May 2020_ full. pdf;

Downloads

Published

2021-12-14

How to Cite

Saliu, F. ., & Zendeli, M. . (2021). The Impact of the Covid 19 Pandemic on the Economy with Focus on GDP in Selected Countries and the Affection on the Tourism. Academic Journal of Digital Economics and Stability, 12, 32–42. Retrieved from https://economics.academicjournal.io/index.php/economics/article/view/376

Issue

Section

Articles