Effects of the COVID-19 Epidemic on Revenue of Tourist Accommodation Establishments in Laocai Province

Abstract

Using the survey data of 223 tourist accommodation establishments in Laocai province, the research uses Cobb - Douglas multivariate regression analysis to analyze the factors affecting the revenue of these establishments in the province. The research results show that 88.04% of changes in tourist accommodation establishments' revenues are influenced by the following factors: fixed costs of the accommodation establishment, variable costs of the accommodation establishment, the number of employees of the accommodation establishment, the capital size of the accommodation establishment, the factor of whether the tourist is domestic or foreign, and the factor of Covid - 19 epidemic, the rest 11.96% due to other factors. Among these factors, the Covid - 19 epidemic has the greatest inverse impact to revenue of the tourist accommodation establishment. On the basis of the research results we propose solutions to maintain and increase revenue of tourist accommodation establishments in Laocai province in the incoming time.