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Business Survival in Times of COVID-19: Empirical Evidence from Tourism Enterprises in Thailand
Global Business Review Pub Date : 2022-08-27 , DOI: 10.1177/09721509221116002
Pungpond Rukumnuaykit 1 , Piriya Pholphirul 2 , Akkaranai Kwanyou 3
Affiliation  

The impact of COVID-19 has been extensively explored, but little research has been conducted on its impact on business sector adaption. This study analyses business adaptation and business survival in the face of the COVID-19 pandemic by focusing on tourism enterprises in Thailand as a case study. Based on a survey of 316 tourism enterprises taken during the pandemic, the survey found that the pandemic resulted in the decline in revenues of most enterprises, and more than half of businesses tried to survive by reducing wages, reducing the number of branches and cutting back on store-opening hours. Using the Cox Proportional Hazard Model to predict length of business survival from the pandemic, it was found that most enterprises were unable to survive for more than 6 months (after the survey). Survival was found to be shorter in areas and business sectors that relied mainly on foreign tourists. Therefore, as for business implications, the traditional business model should be adapted to meet the needs of tourists in their new post-COVID lifestyles. In addition, tourism businesses need to focus on human resource management. Moreover, each type of tourism business needs to adapt its service model in different ways in order to meet the challenges of catering to a new normal.



中文翻译:

COVID-19 时期的企业生存:来自泰国旅游企业的经验证据

COVID-19 的影响已被广泛探索,但对其对商业部门适应的影响却鲜有研究。本研究以泰国的旅游企业为案例研究,分析了面对 COVID-19 大流行时的企业适应和企业生存。根据对疫情期间316家旅游企业的调查,调查发现,疫情导致大部分企业收入下降,半数以上企业通过降薪、减支、裁员等方式维生。在商店营业时间。使用 Cox 比例风险模型预测企业在大流行中的生存时间,发现大多数企业无法生存超过 6 个月(调查后)。主要依赖外国游客的地区和商业部门的生存时间较短。因此,就商业意义而言,应调整传统商业模式,以满足游客在新冠疫情后的新生活方式的需求。此外,旅游企业需要注重人力资源管理。此外,每种类型的旅游业务都需要以不同的方式调整其服务模式,以应对迎合新常态的挑战。

更新日期:2022-08-28
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