ISSN: 2056-3736 (Online Version) | 2056-3728 (Print Version)

The Covid-19 Pandemic Impact on the Saudi Arabia Tourism Sector: An Accountancy Approach

Seraj Bahrawe, Mohammed Abulkhair and Sami Mensi

Correspondence: Sami Mensi,

ESC-Business School (ESCT). Univ. of Manouba & ECSTRA Laboratory, Tunisia.

pdf (653.3 Kb) | doi:


The article aims to determine the impact of the COVID-19 outbreak on the tourism industry in the world and in the Kingdom of Saudi Arabia. It adopts the financial data of listed companies in Saudi Arabia and uses the synthetic index compilation method to compile an accounting index that captures the period before and during the COVID-19 outbreak and measures the impact of the COVID-19 on the tourism sector. From this article, we recommend the appropriate policies to re-launch some tourism activities within the after COVID-19 period. It will be crucial to restore all types of travel, and domestic and international flights, improve direct and indirect employment and the recovery of many related business as travel agencies, hotels, and airline companies, which allow for economic and social benefits.


  COVID-19 Pandemic; Tourism Sector; Accountancy Approach, KSA.


AlDawood A. (2019). Arabian Travel and Tourism Industry. Understanding inbound, outbound, and domestic travel trends. Seera Group.Riyadh, Saudi Arabia

Apergis, E., & N. Apergis (2020). Can the COVID-19 pandemic and oil prices drive the US partisan conflict index? Energy Research Letters 1 (1):13144. doi:10.46557/001c.13144.

Ataguba, J. E. (2020). COVID -19 pandemic, a war to be won: Understanding its economic implications for Africa. Applied Health Economics and Health Policy 10227. doi:10.1007/s40258-020-00580-x.

Ben Youssef, A., Zeqir A. & Belaid, F. (2020). The impact of COVID-19 on the tourism sector in MENA, ERF Forum 2020. file:///C:/Users/Admin/Downloads/TheimpactofCovid-19onthetourismsectorinMENA-ERF.pdf

Chen, G. Z. (2017). Research on the construction of the prosperity index system of listed companies. Shanghai Journal of Economics 12:47–56. doi:10.19626/j.cnki.cn31-1163/f.2017.12.005.

Choi, K. (2010). The effect of economic crisis on the value relevance of accounting information. Korean Accounting Journal Vol.19, No. 3, pp. 83–110.

Cristiana, P. C., Brînză, G., Alexandru A.A. & Butnaru, G.I. (2020). COVID -19 pandemic and its effects on the tourism sector. CES Working Papers – Volume XII, Issue 2.

Das, S. (2022). Chapter 9 - Impact of COVID-19 on industries, Editor(s): Deepak Rawtani, Chaudhery Mustansar Hussain, Nitasha Khatri, COVID-19 in the Environment, Elsevier, Pp 191-200, ISBN 9780323902724,

Deghi, A. & Dulani, S, T. (2021). Corporate Funding and the COVID-19 Crisis. IMF WP/21/86

Feng, S., Zihan, Y, Xingjian, R., & Sajia, Y. (2022). Advances in Economics, Business and Management Research, volume 215 Proceedings of the 2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022)

Foo, L., Chin, M., Tan, Kim, L., & Phuah, K.T. (2020). The impact of COVID -19 on tourism industry in Malaysia. Current Issues in Tourism,

Haque, S.M., & Varghese, R.. (2021). The COVID-19 Impact on Corporate Leverage and Financial Fragility, IMF WP/21/265.

He, P., Niu, H., Sun, Z & Tao L. (2020). Accounting Index of COVID -19 Impact on Chinese Industries: A Case Study Using Big Data Portrait Analysis. Emerging Markets Finance and Trade, Vol. 56, No. 10, pp.2332–2349

Krueger, D., Uhlig, H. & Xie, T. (2020). Macroeconomic Dynamics and Reallocation in an Epidemic, Working Paper 27047. National Bureau of Economic Research, Cambridge available on. visited 19 August 2020.

Kucharski, A.J., Russell, T.W., Diamond, C., Liu, Y., Edmunds, J., Funk, S. & Flasche, S. (2020). Early dynamics of transmission and control of COVID -19: a mathematical modelling study. Lancet Infect. Dis. (20) 301444.

Kuo, H.I., Chen, C.C., Tseng, W.C., Ju, L.F. & Huang, B.W. (2008). Assessing impacts of SARS and Avian Flu on international tourism demand to Asia. Tour. Manag. 29 (5), 917–928.

Lucia, S., Kramarova., K & Chabadova, D. (2022). Impact of the COVID-19 Pandemic on the Business Environment in Slovakia. Economies Vol. 10, No. 10, pp. 244-266,

Luvsannyam, D. (2018). Panel Structural VARs and the PSVAR Add-In accessed January 2020. html.

Mandel, A. & Veetil, V. (2020). The economic cost of COVID lockdowns: an out-of-equilibrium analysis. Econ. Disasters Climate Change. /s41885-020-00066-z.

Mao, C.K., Ding, C.G. & Lee, H.Y. (2010). Post-SARS tourist arrival recovery patterns: an analysis based on a catastrophe theory. Tour. Manag. 31 (6), 855–861. https://doi. org/10.1016/j.tourman.2009.09.003.

Marron, D. (2020). Macroeconomic Policy in the Time of COVID -19. Federal Budget and Economy, TaxVox, 17 March 2020, available on. https://www.taxpolicycenter. org/taxvox/macroeconomic-policy-time-COVID-19. visited 15 March 2020.

McKee, M. & Stuckler, D. (2020). If the world fails to protect the economy, COVID-19 will damage health not just now but also in the future. Nat. Med. 26 (May 2020), 640–642 available on. visited 19 August 2020.

McKercher, B. (2004). The impact of SARS on Hong Kong’s tourism industry. Int. J. Contemp. Hosp. Manag. 16 (2), 139–143. 520034. ScienceAlert. (2020). January, accessed at

Mulder, N. (2020). The impact of the COVID -19 pandemic on the tourism sector in Latin America and the Caribbean, and options for a sustainable and resilient recovery, International Trade series, No. 157 (LC/TS.2020/147), Santiago, Economic Commission for Latin America and the Caribbean (ECLAC).

OECD, (2020). Tourism policy responses to coronavirus (COVID-19),

Pedroni, P. (2013). Structural panel VARs. Econometrics 1 (2), 180–206. 10.3390/econometrics1020180. Pine, R.,

Tarkom, A. & Huang, X. (2023). "Readjusting the speed of leverage adjustment during the COVID-19 pandemic?", China Accounting and Finance Review, Vol. ahead-of-print No. ahead-of-print.

UNCTD. (2020). COVID-19 and Tourism Assessing the Economic Consequences

UNWTO. (2020). Impact assessment of the COVID -19 outbreak on international tourism, (retrieved from