Factors Impacting Financial Loss of Small Tourism Businesses Due to Covid-19

Abstract

Small tourism businesses are extremely affected by COVID-19 pandemic all over the world. The pandemic scenario in case of small tourism businesses in third-world country like Bangladesh was much critical. The study aims at evaluating factors responsible for financial loss of small tourism businesses due to COVID-19 pandemic in Bangladesh. To address the objective, Chi-square test, and logistic regression modeling have been applied to the quantitative primary data. This study finds that education of the owner/manager, type of organization, office location, year of establishment, main target customer and revenue earned before pandemic have significant relationship with financial loss during COVID-19. The results of the research would assist entrepreneurs and policy-makers in weighing different factors directly connected with the profit or loss in business and to formulate strategies for unpredicted crises.