ECONOMIC IMPACTS OF THE PANDEMIC ON TOURISM: THE CASE OF COVID-19

Description

Crises are one of the indispensable laws of the creation and development of society, the occurrence of which is a characteristic feature of society. The first 20 years of the twenty-first century are characterized by events such as the crisis, epidemic and pandemic, which caused a lot of anxiety and financial losses for the world economy and society. It is known that the crisis (chaos) occurs as a result of violation of the principles of functioning of the system that is operated. As a result of the actions taken to eliminate these violations and improve the functioning of the system, a more active, partially updated or fully effective new system can be formed from the existing system. In connection with the Covid – 19 pandemic, the introduction, withdrawal, ban on all types of international flights, as well as restrictions imposed on production, trade, and service activities, caused a sharp decline in economic growth, employment, and income. The negative consequences of the Covid – 19 pandemic for important sectors of the world economy are described.