Socio-economic effects of the covid-19 pandemic on the competitiveness of the tourism industry (the cases of Bulgaria and Ecuador)

Abstract

The Covid-19 pandemic has posed unprecedented challenges to the tourism industry around the world. Countries where the tourism industry is highly important to their economies suffer huge financial losses and many businesses were closed during and after the lockdown. This fact makes the topic of the pandemic's impact on tourism and the countries’ economies extremely actual. Tourism in Bulgaria has a significant share in the gross domestic product of the country /about 12%/. In Ecuador, accommodation and food services are between the 7 economic industries with the highest contribution to national employment. Although their geographical and economic profiles are very different, the crisis in the tourism industry raises many common questions about its social and economic importance for both countries. Both Ecuador and Bulgaria have competitive advantages in the field of tourism. To maintain them and to assure the optimal positions of both countries on the world tourism market in the conditions of a pandemic is extremely important. Therefore, the purpose of this report is to discuss the socio-economic effects of the COVID-19pandemic on the competitiveness of the tourism industry. The goal achievement is realized by using a descriptive method, analysis of the health situation in both countries, analysis of the tourism industry indexes, the changes and challenges of the new reality in tourism, etc. On the basis of the officially published statistical data in Bulgaria and Ecuador, conclusions have been made about their efficiency and the tourism competitiveness of both countries. JEL: L83, M21, Z32.