​At head of title page: "Asia and Pacific Department ; Western Hemisphere Department"

​Includes bibliographical references (P. 99-103)

Acknowledgments -- Executive Summary -- Introduction -- 1. The Tourism Landscape -- 2. Lessons from Past Epidemics -- 3. Analyzing Macroeconomic Scenarios Under the New Post-Pandemic World -- 4. Policy Options Towards a New Normal -- Conclusion

This departmental paper analyzes the impact of the COVID-19 pandemic on tourism in the Asia Pacific region, Latin America, and Caribbean countries. Many tourism dependent economies in these regions, including small states in the Pacific and the Caribbean, entered the pandemic with limited fiscal space, inadequate external buffers, and foreign exchange revenues extremely concentrated in tourism. The empirical analysis leverages on an augmented gravity model to draw lessons from past epidemics and finds that the impact of infectious diseases on tourism flows is much greater in developing countries than in advanced economies. (IMF page)