Read About Our Response to COVID-19
While the COVID-19 pandemic has its negative impact on all countries in the world, the global growth rate is shrinking by – 4.2 percent, making a gap of 7 percentage points from the projections published before the outbreak. When compared to emerging economies, advanced economies along with Europe, Latin America, and the Caribbean currently have a more negative impact (IMF 2019, 2020). World trade suffered a double-digit decline with North America and Asia having the highest negative impact. The hospitality sector in all regions has been hit hard, while essential services showed slight growth (WTO 2020). UAE, with its pro-active measures and rapid implementation of policies, have minimized the negative socio-economic effects on the hospitality sector. Survey research conducted in the hospitality sector organizations operating in the UAE, reveals the level of impact the industry suffered in the country and the policies and their implementation which helped to minimize the negative impact. The results of this study will shed light on the impact of the pandemic on the hospitality industry in an emerging economy. It will help policymakers in their decision-making in such crisis situations.