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The effects of Coronavirus (COVID-19) on expected tourism revenues for natural preservation. The case of the Galapagos Islands

Abstract:

This research reports the effects of Coronavirus COVID-19 outbreak on expected tourism revenues for preservation in the Galapagos Islands, a well-known international tourism destination. We explore the trends and construct a seasonal index to estimate the expected number of visitors in the Galapagos National Park (GNP) as well as the potential revenue from the fee entrance in the park, which is used for preservation activities. Our results indicate that in our optimistic scenario, losses would account for half of the revenues in 2020,having a high impact on the Galapagos National Park preservation activities. Based on our results, we recommend GNP and Ecuadorian authorities to look for alternative sources of funding, so conservation programs in the park can continue with no interruption.