Researchers of the Poznań University of Economics and the Turkish Istanbul Medeniyet University will publish their joint article “How to Survive a Pandemic: The Corporate Resiliency of Travel and Leisure Companies to the COVID-19 Outbreak” in the Tourism Management journal.

The study focuses on the factors that ensure resilience to the effects of COVID-19 for global-listed travel companies and why some travel companies are doing better than others in the pandemic.

Data on over 1,200 companies from 52 countries were used in the study. Using regression and machine learning tools, the researchers show that tourism firms with low valuations, limited leverage and high investment were the most resistant to the pandemic crash. Strict rules regarding confinement and isolation, as well as a low level of individualism in the society of a given country, have also turned out to be beneficial.