Tourism acts as Covid-19 amplifier in the eurozone
Shock is increasing fragmentation risks in the region due to its uneven effect across countries
Tourism has become a channel amplifying the economic crisis unleashed by the Covid-19 pandemic, says research published by the European Central Bank.
Due to its larger effect on sectors dependent on travel and human interactions, countries more reliant on them are suffering a deeper crisis, which increases fragmentation risks.
The most vulnerable countries are the net exporters of travel services, countries including Italy, Greece, Portugal and Spain.
“In Italy and Spain, domestic consumption
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