This study is one of first large scale evaluations of the impact of government subsidies for tourism firms during the COVID-19 pandemic. We use the population of micro, small, and medium sized tourism enterprises from Croatia, one of the most tourism-intensive European economies, to investigate whether receipt and the size of subsidies helped distressed companies to stay in business and retain their employees during the first two years of the pandemic. In this study, a novel perspective of grant size effect is introduced to examine the effect of public stimuli on the tourism industry. Positive effects of support on firm survival and employment of subsidised firms are inversely proportional to the size of support. Thus, the findings indicate the need for a dynamic and nuanced approach to public support that considers firms’ heterogeneity in the tourism sector. This study could help policymakers manage potential future crises more effectively.

中文翻译：

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COVID-19 赠款是否支持旅游公司确保生存和就业？来自克罗地亚的证据

这项研究是对 COVID-19 大流行期间政府补贴对旅游公司影响的首次大规模评估之一。我们利用克罗地亚（欧洲旅游最密集的经济体之一）的微型、小型和中型旅游企业的人口来调查补贴的收入和规模是否有助于陷入困境的公司在第一阶段继续经营并留住员工。疫情爆发两年了。在这项研究中，引入了赠款规模效应的新视角来研究公共刺激对旅游业的影响。支持对企业生存和受补贴企业就业的积极影响与支持规模成反比。因此，研究结果表明需要采取动态和细致的方式来提供公共支持，并考虑到旅游部门企业的异质性。这项研究可以帮助政策制定者更有效地管理未来潜在的危机。