The economic effects of Covid-19 on the hospitality industry

The COVID-19 pandemic was an unprecedented global event, experienced simultaneously worldwide. In response, each country enacted a range of policies, encompassing not only health measures to mitigate the impact of COVID-19 but also diverse social and economic policies. This paper examines the impact of various policy measures implemented by governments on the performance of the hospitality industry. Using a panel of 38 countries between 2020 and 2022, we analyze how long it took to policies to produce positive effects on the occupancy rate and which policies or policy-mix have proved more effective. The analysis studies the effects of policies, considering several additional factors like the phase of the business cycle and the degree of uncertainty in the markets.