Financial Distress in the China Hospitality Industry during the  Covid-19 Disaster

Shengyu Gu

doi:10.9734/sajsse/2023/v18i3659

Research Article Open access CC BY 4.0

Financial Distress in the China Hospitality Industry during the Covid-19 Disaster

Shengyu Gu

South Asian Journal of Social Studies and Economics · pp. 38–49 · Published 22 Apr 2023

10.9734/sajsse/2023/v18i3659

Abstract

This qualitative study explores financial distress in the China hospitality industry during the Covid-19 disaster. Through semi-structured interviews with industry experts and content analysis of news articles, we examine the impact of the pandemic on the financial stability of hospitality businesses in China. Our findings suggest that the crisis has caused significant financial distress for many businesses, with revenue losses and cash flow problems leading to widespread closures and layoffs. We identify several factors that have contributed to financial distress, including travel restrictions, reduced consumer demand, and supply chain disruptions. Our study highlights the urgent need for policy interventions and industry-level support to address financial distress and promote the recovery of the China hospitality industry.

Financial distress hospitality industry China Covid-19 qualitative research

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Shengyu Gu (2023). Financial Distress in the China Hospitality Industry during the Covid-19 Disaster. South Asian Journal of Social Studies and Economics , 38–49. https://doi.org/10.9734/sajsse/2023/v18i3659

Affiliations

Shengyu Gu — School of Geography and Tourism, Huizhou University, Huizhou 516007, China.

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