Coronavirus Pandemic and Its Impact on Tourism Industry as a Part of Experience Economy

Abstract

Even though the experience economy has been prevailing over the last decades, certain external factors can dramatically change the situation. The coronavirus pandemic became one of these factors. The pandemic has changed numerous life patterns, including those of experience economy since it was based on real-life experiences and impressions. Tourism is one of the brightest and clearest manifestations of the experience economy since it makes impressions and experience a commercial offer. Being a powerful global industry, it plays a significant role in the formation of GDP and the creation of additional jobs, having a huge impact on such economy sectors as transportation, communications, construction, agriculture and playing a role of catalyst for socio-economic development of the society globally. It is one of the industries that suffered the most from the pandemic outbreak and its consequences. The main objective is to evaluate to what extent the COVID-19 pandemic influenced tourism as a part of experience economy. .