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Tourism in Kuwait: How This Country Is Trying To Face This Difficulty
Tourism in Kuwait: How This Country Is Trying To Face This Difficulty
Tourism is seen as a key pillar of the UAE's policy of economic diversification and a trustworthy
catalyst for growth in GDP. Inbound visitors have more than tripled from 6.4 million in 2006 to
approximately 17 million in 2019 (Al-Fadly, 2020). At present, approximately 90% of Kuwaiti
government revenues stem from oil, an area which has experienced volatility over the last two
years due to over-supply price pressures and the progressive movement towards renewable and
clean sources of energy. This put emphasis even before COVID-19 on the national treasury of
Kuwait. The pandemic came to Kuwait's economy as a double hurdle - with worldwide locks to
address COVID 19 generating an almost overnight drop in demand, oil prices, and local
economic lockdowns.
References:
Al-Fadly, A. (2020). Impact of COVID-19 on SMEs and employment. Entrepreneurship
and Sustainability Issues, 8(2), 629.
Karim, W., Haque, A., Anis, Z., & Ulfy, M. A. (2020). The movement control order
(mco) for covid-19 crisis and its impact on tourism and hospitality sector in
Malaysia. International Tourism and Hospitality Journal, 3(2), 1-7.
Maliszewska, M., Mattoo, A., & Van Der Mensbrugghe, D. (2020). The potential impact
of COVID-19 on GDP and trade: A preliminary assessment. World Bank Policy
Research Working Paper, (9211).