THE IMPACT OF COVID-19 ON INTERNATIONAL TRADE IN TOURISM SERVICES IN EUROPE

Abstract

European tourism suffered the greatest crisis on record in 2020-2021 following an unprecedented health, social and economic emergency with the outbreak of the COVID-19 pandemic and quarantine restrictions. Thus, the aim of the article is to investigate the impact of COVID-19 on international trade in tourism services in Europe, as well as determining the development trends of international trade in tourism services in the regions of Europe and EU countries in the pre- and post-coronavirus period. To achieve the goal of the scientific research a quantitative research method, literature review method, retrospective analysis, statistical analysis has been used. In the study, secondary data of the international tourist arrivals in Europe, export/import of tourism services by European regions and EU in the pre-coronavirus and post-coronavirus period has been analyzed. The following trends have been identified: 1) an undulating trend in tourism exports in Europe in general, and European regions in particular, characterized by regional differentiation; 2) an alternation of peaks and troughs in the volume of imports of tourism services in Europe and a reversal of the main upward downward trend in all regions of Europe in 2020; 3) a differentiation of the response of European regions to the challenges of 2020 - regions with a passive trade balance showed a reduction in the deficit, while regions with an active trade balance, on the contrary, reduced its surplus; 4) a differentiation of the share of import/export of tourism services of total trade in services by regions of Europe with a gradual upward trend and a rapid downward trend break in 2020.