The outlook for inbound tourism demand is extremely severe as it is expected to remain subdued for as long as entry restrictions continue. 2  The last channel is domestic private consumption. This marked a large decline particularly in the April-May period, when the state of emergency was in place.
Since then, it has been gradually heading toward a pick-up, along with the resumption of economic activity. Nevertheless, the pace of the pick-up will likely be quite moderate, mainly for dining-out and services for individuals, due to vigilance against COVID-19 and the need to ensure social distancing.