Tourism plays a vital part in many emerging market economies, a point highlighted by the chart, which shows the share of GDP from international tourism receipts in the BRICS and other major EMs. It was initially hoped that the virus did not spread as easily in warmer climates since the number of reported COVID-19 cases in Thailand appeared low, despite the country receiving many Chinese tourists. But, it has yet to be scientifically proven whether weather has an effect, and exactly what effect this has. Indeed, the number of cases did start to rise significantly in many emerging economies, including in Thailand, in early March suggesting that warm weather is not a panacea. Some emerging markets are ill-equipped to deal with the impact of COVID-19 and it is possible that lockdowns will have significant negative economic consequences without achieving the desired goal of limiting the fallout from the disease. Moreover, even if things get back to normal and lockdowns are lifted, international travel, trade and tourism are likely to be subdued for some time to come.
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