Policy Socialization and Business Strategy Direction of Eco-Tourism

Miguel Angel Esquivias; Lilik Sugiharti; Hilda Rohmawati; I Made Laut Mertha Jaya

Policy Socialization and Business Strategy Direction of Eco-Tourism

Miguel Angel Esquivias, Lilik Sugiharti, Hilda Rohmawati, I Made Laut Mertha Jaya

Abstract

This study aims to estimate the losses of tourism-related sectors and businesses to take recovery steps by disseminating policies and strategic directions. This study uses the Seasonal Autoregressive Integrated Moving Average (SARIMA) to calculate losses. This study indicates that the average percentage of losses in the tourism sector from January to August 2020 is 68% (9,508 million USD) to 69% (10,328 million USD). Several sectors experienced losses, especially accommodation (2978 to 3235 million USD); food and beverages (1750 to 1900 million USD); and shopping (1530 to 1662 million USD). Business actors need to know the socialization of government policies such as fiscal stimulus, CHSE (Cleanliness Health Safety Sustainability) certification, and market reactivation. The direction of the right strategy is also carried out, such as product innovation, improvement of health protocols, digitization, and certification.

How to Cite:
Esquivias, M. A., Sugiharti, L., Rohmawati, H., & Jaya, I.M.L.M. (2022). Policy Socialization And Business Strategy Direction Of Eco-Tourism. Etikonomi, 21(1), 193-212. https://doi.org/10.15408/etk.v21i1.23068.

Keywords

economic impact; recovery strategies; tourism demand forecast

References

Abodunrin, O., Oloye, G., and Adesola, B. (2020). Coronavirus Pandemic and Its Implications on the Global Economy. International Journal of Arts, Languages and Business Studies (IJALBS), 4, 13–23.

Amar, M. Y., Syariati, A., Ridwan, R., & Parmitasari, R. D. A. (2021). Indonesian Hotels’ Dynamic Capability Under the Risks of Covid-19. Risks, 9(11), 1–18. https://doi.org/10.3390/risks9110194.

Atmojo, M. E., & Fridayani, H. D. (2021). An Assessment of Covid-19 Pandemic Impact on Indonesian Tourism Sector. Journal of Governance and Public Policy, 8(1), 1–9. https://doi.org/10.18196/jgpp.811338.

Bartik, A., Bertrand, M., Cullen, Z., Glaster, E., Luca, M., & Staton, C. (2020). How are Small Businesses Adjusting to COVID-19? Early Evidence from A Survey. National Bureau of Economic Research, 1-35.

Dolnicar, S., & Zare, S. (2020). COVID-19 and Airbnb – Disrupting The Disruptor. Annals of Tourism Research, 83, 102961.

Donthu, N., & Gustafsson, A. (2020). Effects of COVID-19 on Business and Research. Journal of Business Research, 117, 284-289.

Esquivias, M. A, Sugiharti, L., Rohmawati, H., Setyorani, B., & Anindito, A. (2021). Tourism Demand in Indonesia: Implications in a Post-Pandemic Period. GeoJournal of Tourism and Geosites, 37(3), 951-958. https://doi.org/10.30892/gtg.37329-731.

Esquivias, M. A, Sugiharti, L., Jayanti, AD, Purwono, R., & Sethi, N. (2020a). Mobile Technologies, Financial Inclusion, and Inclusive Growth in East Indonesia. Journal of Telecommunications and the Digital Economy, 8(2), 123–145.

Esquivias, M. A, Sethi, N., Ramandha, M. D., & Jayanti, A. D. (2020b). Financial Inclusion Dynamics in Southeast Asia: An Empirical Investigation on Three Countries. Business Strategy & Development, 4(2), 203-215. https://doi.org/10.1002/bsd2.139.

Farzanegan, M., Ghollpour, H., Felzi, M., Nunkoo, R., & Andargoli, A. (2020). International Tourism and Outbreak of Coronavirus (COVID-19). Journal of Travel Research, 60(3), 697-692. https://dx.doi.org/10.1177/0047287520931593.

Fong, L. H. N., Law, R., & Ye, B. H. (2021). Outlook of Tourism Recovery Amid An Epidemic: Importance of Outbreak Control by The Government. Annals of tourism research. 86, 102951. https://doi.org/10.1016/j.annals.2020.102951.

Goniewicz, K., Khorram-Manesh, A., Hertelendy, A., Goniewicz, M., Naylor, K., & Burkle Jr., F. (2020). Current Response and Management Decisions of the European Union to the COVID-19 Outbreak: A Review. Sustainability, 12(9), 1-12. https://doi.org/10.3390/su12093838.

Gössling, S., Scott, D., & Hall, M. (2020). Pandemics, Tourism, and Global Change: A Rapid Assessment of COVID-19. Journal of Sustainable Tourism, 29(1), 1-20.

Gursoy, D., & Chi, C. (2020). Effects of COVID-19 Pandemic on Hospitality Industry: Review of the Current Situations and A Research Agenda. Journal of Hospitality Marketing & Management, 29(5), 527-529.

Hadiwardoyo, W. (2020). National Economic Losses Due to the Covid-19 Pandemic. Baskara: Journal of Business and Entrepreneurship, 2(2), 83–92.

Haksama, S., Prayoga, D., Lailiyah, S. U., & Sari, J. D. E. (2018). Capacity Building Community Participation in Disaster Management in Tourism Areas of Banyuwangi Regency to Support Disaster Resilient Villages (Destana) 2017. Journal of Public Services, 2(2), 72-77.

Hanoatubun, S. (2020). The Impact of COVID-19 on the Indonesian Economy. Journal of Education, Psychology and Counseling, 2(1), 146–153.

Jalil, A., M, F., & Kasnelly, S. (2020). Increased Unemployment Amid the Pandemic (Covid-19). Journal of Islamic Economics, 2, 45–60.

Jiang, Y., Ritchie, B. W., & Verreynne, M. L. (2019). Building Tourism Organizational Resilience to Crises and Disasters: A Dynamic Capabilities View. International Journal of Tourism Research, 21(6), 882-900. https://doi.org/10.1002/jtr.2312.

Joo, H., Masky, B., Berro, A., Rotz, L., Lee, Y.-K., and Brown, C. (2019). Economic Impact of the 2015 MERS Outbreak on the Republic of Korea's Tourism-Related Industries. Health Security, 17(2), 100-108. https:// oi.org/10.1089/hs.2018.0115.

Karabag, SF (2020). An Unprecedented Global Crisis! The Global, Regional, National, Political, Economic, and Commercial Impact of the Coronavirus Pandemic. Journal of Applied Economics and Business Research, 10(1), 1–6.

Khalid, U., Okafor, L. E., & Burzynska, K. (2021). Does the Size of the Tourism Sector Influence the Economic Policy Response to the COVID-19 Pandemic?. Current Issues in Tourism, 24(19), 2801-2820. https://doi.org/10.1080/13683500.2021.1874311.

Kim, J., Lee, CK, and Mjelde, JW (2018). Impact of Economic Policy on International Tourism Demand: the Case of Abenomics. Current Issues in Tourism, 21(16), 1912-1929. https://doi.org/10.1080/13683500.2016.1198307

Kristiana, Y., Pramono, R., & Brian, R. (2021). Adaptation Strategy of Tourism Industry Stakeholders During the COVID-19 Pandemic: A Case Study in Indonesia. Journal of Asian Finance, Economics, and Business, 8(4), 213–223. https://doi.org/10.13106/jafeb.2021.vol8.no4.0213.

Rehman, A., Ma, H., Irfan, M., Ahmad, M., & Traore, O. (2020). Investigating the Influence of International Tourism in Pakistan and Its Linkage to Economic Growth: Evidence From ARDL Approach. SAGE Open, 10(2), https://doi.org/10.1177/2158244020932525.

Laksito, I. Y., & Yudiarta, I. G. A. (2021). Grey Forecasting of Inbound Tourism to Bali and Financial Loses from the COVID-19. International Journal of Grey Systems, 1(1), 48–57. https://doi.org/10.52812/ijgs.17

Liguori, E. W., & Pittz, T. G. (2020). Strategies for Small Business: Surviving and Thriving in the Era of COVID-19. Journal of the International Council for Small Business, 1(2), 106-110. https://doi.org/10.1080/26437015.2020.1779538.

Livana, Suwoso, R. H, Febrianto, T., Kushindarto, D., & Aziz, F. (2020). Impact of the COVID-19 Pandemic for the Village Community Economy. Indonesian Journal of Nursing and Health Sciences, 1(1), 37–48.

Lu, CL, Chen, ST, and Kuo, HI (2018). International Tourism Demand in Asia: Before and After the Economic Crisis. Asia Pacific Journal of Tourism Research, 23(11), 1073-1085. https://doi.org/10.1080/10941665.2018.1524774.

Mair, J., Ritchie, BW, & Walters, G. (2016). Towards a Research Agenda for Post-Disaster and Post-Crisis Recovery Strategies for Tourist Destinations: A Narrative Review. Current Issues in Tourism, 19(1), 1-26.

Milani F. (2021). COVID-19 Outbreak, Social A Global VAR Analysis of Cross-Country Interdependencies. Journal of Population Economics, 34, 223–252.

Nicola, M. (2020). The Socio-Economic Implications of the Coronavirus Pandemic (COVID-19): A Review. International Journal of Surgey, 78, 1835-1893.

Nursjanti, F., & Amaliawati, L. (2021). Covid-19 in Indonesia: Socio-Economic Impact and Policy Response. Turkish Journal of Computer and Mathematics, 12(8), 1215–1225.

Pasquinelli, C., Trunfio, M., Bellini, N., & Rossi, S. (2021). Sustainability in Overtouristified Cities? A Social Media Insight into Italian Branding Responses to the Covid-19 Crisis. Sustainability, 13(4), 1848. https://doi.org/10.3390/su13041848.

Polyzos, S., Samitas, A., & Spyridou, A. (2020). Tourism Demand and The COVID-19 Pandemic An LSTM Approach. Tourism Recreation Research, 46(2), 175-187. https://doi.org/10.1080/02508281.2020.1777053.

Purba, J. H. V., Fathiah, R., & Steven, S. (2021). The Impact of the Covid-19 Pandemic on the Tourism Sector in Indonesia. Riset, 3(1), 389–401.

Qiu, R. T., Park, J., Li, S., & Song, H. (2020). Social Costs of Tourism during The COVID-19 Pandemic. Annals of Tourism Research, 84, 102994.

Rogerson, C. (2020). COVID-19 and Tourism Spaces of Vulnerability in South Africa. African Journal of Hospitality, Tourism, and Leasure, 9(4), 382-401.

Romão, J. (2020). Tourism, Smart Specialization, Growth, and Resilience. Annals of Tourism Research, 84, 102995. https://doi.org/10.1016/j.annals.2020.102995.

Sharma, G. D., Thomas, A., & Paul, J. (2021). Reviving Tourism Industry Post-COVID-19: A Resilience-based Framework. Tourism Management Perspectives, 37, 100786.

Sönmez, S., Apostolopoulos, Y., Lamke, M., & Hsieh, Y.-C. (2020). Understanding the Effect of COVID-19 on the Health and Safety of Immigrant Hospitality Workers in the United States. Tourism Management Perspectives, 35, 1-7.

Thaha, A. F. (2020). The Impact of Covid-19 on MSMEs in Indonesia. BRAND Scientific Journal of Marketing Management, 2(1), 148–153.

Williams, C. C. (2020). Impacts of the Coronavirus Pandemic on Europe's Tourism Industry: Addressing Tourism Enterprises and Workers in the Unbalanced Economy. International Journal of Tourism Research, 23(1), 79-88.

Yamali, F. R., & Putri, R. N. (2020). The Impact of Covid-19 on the Indonesian Economy. Economics: Journal of Economics and Business, 4(2), 384-388.

Yeh, S. S. (2020). Tourism Recovery Strategy Against COVID-19 Pandemic. Tourism Recreation Research, 46(2), 188-194. https://doi.org/10.1080/02508281.2020.1805933.

Zhang, K., Hou, Y., & Li, G. (2020). Threat of Infectious Disease During an Outbreak: Influence on Tourists' Emotional Responses to Disadvantaged Price Inequality. Annals of Tourism Research, 84, 102993.

Zhang, H., Song, H., Wen, L., & Liu, C. (2021). Forecasting Tourism Recovery Amid COVID-19. Annals of Tourism Research, 87, 103149.

Full Text: PDF

DOI: 10.15408/etk.v21i1.23068