Survival Strategy for Tourism Business Actors During the Covid-19 Pandemic in Badung Regency
Journal Title: Journal of Economics, Finance and Management Studies - Year 2024, Vol 7, Issue 07
Abstract
Until the present time, it has been almost two years since the world was hit by the Covid-19 pandemic and for almost two years, Indonesia, including Bali, has been struggling against the Covid-19 pandemic which has had an enormous impact on various sectors, including the tourism and creative economy sectors. Badung Regency as the centre of tourism in Bali is the area most affected by the Covid-19 pandemic. In this area there are many employment issues where many hotels, restaurants/cafes and other types of tourism businesses are forced to close due to lack of visitors. As a result, the highest number of cases of termination of employment and employees who were laid off occurred in Badung Regency; the figure reached 28,609 people who were laid off and 631 people whose employment was terminated. This study aims to (1) examine the profile of tourism business actors in the Covid-19 pandemic situation in Badung Regency, (2) examine the influence of the role of government policies, social capital, and technological capital on the entrepreneurial spirit of tourism business actors in the Badung Regency, (3) examine the influence of the role of government policy, social capital, technological capital and entrepreneurial spirit on the economic resilience of tourism business actors in the Badung Regency, and (4) formulate a strategy to strengthen the capacity of tourism business actors to be able to survive during the Covid-19 pandemic in the Badung Regency This research was conducted in Badung Regency in four sub-districts, namely South Kuta District, Kuta District, North Kuta District, and Petang District. Respondents in this study were determined to be 120 people with several informants. The analytical techniques used are descriptive statistics, inferential statistics and PLS. The results of the study show the condition of the economic resilience of tourism business actors is still relatively good as indicated by the indicator that the majority of respondents have their own homes, are still able to send their children to a higher level of education, have an average income exceeding the minimum wage for the Badung Regency as well as having adequate savings and access to health insurance. The results of statistical tests show the role of government policy, social capital, and technological capital have a positive and significant effect on the entrepreneurial spirit and family economic resilience. Indirectly, the role of government policies, social capital and technological capital have a positive and significant effect on family economic resilience through an entrepreneurial spirit. There are three strategies that should be taken by business actors, such as optimizing digital platforms, wait and see strategy and bundling products.
Authors and Affiliations
Made Heny Urmila Dewi , Martini Dewi , M. Rudi Irwansyah,
Keywords
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- EP ID EP740341
- DOI 10.47191/jefms/v7-i7-34
- Views 31
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