The impact of the 2008 and 2020 crises on international tourism, with special emphasis on the tourist sector of the Republic of Serbia

Vujadinović, Jelena and Vujadinović, Maja (2020) The impact of the 2008 and 2020 crises on international tourism, with special emphasis on the tourist sector of the Republic of Serbia. In: XI Scientific Conference with International Participation Jahorina Business Forum 2022, "Economic lessons learnt from the 2008 and 2020 crisis: experiences and recommendation for entrepreneurial nations, 24-25. mart, Pale, Republika Srpska. Ekonomski fakultet Pale, Pale, pp. 399-408. ISBN 2303-8969

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Abstract

In recent decades, international tourism has recorded a positive trend of growth in the number of tourists and tourism revenue. In recent decades global tourism has been exposed to numerous negative impacts of different crises caused by economic or non-economic factors. However, tourism has managed to recover relatively quickly. This paper aims to analyze the effect of the World Economic Crisis in 2008 and the Covid-19 pandemic, which marked the whole year of 2020 on international tourism, with the particular emphasis on tourism in the Republic of Serbia. The primary research goal of this paper is to show the impacts of the Covid-19 pandemic on international tourism and tourism in the Republic of Serbia by comparing selected indicators. Based on the available data, research was conducted and the results showed that the Covid-19 pandemic, compared to the World Economic Crisis in 2008, had a far more significant impact on reducing the number of tourists in international tourism and the Republic of Serbia. On the other hand, in the Republic of Serbia, the World Economic Crisis led to a greater reduction in the number of domestic tourists than in the number of foreign tourists.

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