Abstract: The COVID-19 pandemic severally affected the economy of many countries and territories around the world, and the ones more dependent on the tourism industry have been the most hit. However, the impact of the health crisis was not only felt on the tourism industry, but in many other social and economic activities, leading to decreases in GDP (Gross Domestic Product) and employment, and it also negatively affected consumer spending and the individuals’ well-being. International trade chains were also much affected due to the disruption of international distribution channels and border closures. The impacts of the pandemic, shortly after it was declared quelled, will be the focus of this paper. Namely, we inquire into the tourism strategies undertaken by Portugal and Brazil in the short-run post-pandemic scenario. In the case of Portugal, we have also looked at the trends found in the way firms have adapted their operations in the international markets in COVID-19 times, as a preliminary approach to the hypothesis raised if the outbreak of the health crisis would lead to a de-globalization process. Regarding the empirical approach, secondary data were used, both, from statistics entities, researchers and technical government offices. In what regards the tourism industry, both in the cases of Portugal and Brazil, it looks like their recovery is following the trend of returning to “business as usual”, even though, in the case of Brazil, it is still an ongoing process. Regarding the international trade chains, data show that the pandemic has induced Portuguese exporting companies to adopt new operating models and distribution channels.
Keywords: COVID-19’s economic impacts; tourism dependence; international trade chains; economic recovery; Portugal; Brazil.
J. Cadima Ribeiro*
Flávio J.N.C. Malta**
*NIPE/University of Minho, Portugal
**UNITAU/University of Taubaté, Brazil
Email of corresponding author: jcadimaribeiro0@gmail.com
- https://atsk.website/atsk-economics-volume-1-issue-2/
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