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Impact of COVID19 Pandemic on the Australian Tourism Economy, Research Paper Example

Pages: 2

Words: 640

Research Paper
Date Source (Website, video link, article, interview, survey, statistics) A brief summary of information and how it is relevant to research Personal opinions and thoughts
16/03/2020 Folinas, S. and Metaxas, T., 2020. Tourism: The great patient of coronavirus COVID-2019. https://mpra.ub.uni-muenchen.de/103515/1/MPRA_paper_99666.pdf The global pandemic had adverse effects on the tourism sector of Australia. The tourism industry had become the epitome of the country’s largest exports which increased the revenues of the nation. However, the key drivers of the tourism sector have been tourists from China, South Korea, and Japan. The hotel industry had been one of the biggest earners as they used to host the tourists. With the looming pandemic, the hotel sectors have experienced losses that have been so negative to the prowess of the company. As a result, the hotel industry decided to charge their packages at a reduced rate of half the initial price. This was one of the efforts done to cover the dwindling business as well as attracting local tourists. The analysis done by the researchers was retrieved from the Statista website, which provided the records of how the business would be enhanced during the pandemic period. I found the information provided to be resourceful because of the sources used to provide information. The website provided efficient information and statistics of travel behavior across the world. The report retrieved from the Statista website are also an efficient pillar of the current research because of the validity of the information provided. It is evident that the researchers worked efficiently in order to find a viable source of material that could provide an analysis of how the situation on the ground is. Besides, the report was prepared at the University of Thessaly, which is a reliable institution that has conducted successful research before.
2020 Grozinger, P., & Parsons, S. (2020). The COVID-19 Outbreak and Australia’s Education and Tourism Exports’. RBA Bulletin, December. https://brs.website.rba.gov.au/publications/bulletin/2020/dec/pdf/the-covid-19-outbreak-and-australias-education-and-tourism-exports.pdf Reserve Bank of Australia has provided insights on how the tourism sector has been affected at large by the looming pandemic. It is clear that the demand for tourism in Australia has always been on the rise due to the exquisite travel destinations. Australia has made huge strides in exporting education and tourism. These two sectors have been the 4th largest exporters in Australia hence making it hard for the country to recover during the pandemic. Prior to the pandemic, the country had already managed to surpass the income earned during the previous calendar year. However, the crack of the pandemic changed the dynamics of business. Travel bans across the world meant that little business would be experienced. This also meant that the nation would experience a reduced number of students. This was also contributed by the closure of schools after the looming pandemic resulted in lockdowns across the world. The research commissioned by the Reserve Bank of Australia has opened up avenues for an extensive study that would enhance the understanding of the business. I found the details provided on the website so informative because the source being reliable. It is clear that the researchers based their sources on actions being experienced in the country. Besides, through the efforts of the researchers, it is evident that the study will be important as it will draw on the insights and efforts achieved. The website had important insights that provided perceptions about the effects of the pandemic across the country. Reserve Bank of Australia plays an important role in the research and development in the country and has previously funded projects that were influential. Hence, the prospects in the current research are reliable and efficient for the current research. It is also clear that the value of the report from the website enhances the prospects of the current study by providing reliable sources and statistics that can be used to determine how the country was affected.

 

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