Multiple Choice

A coastal nation, historically dependent on international visitors for a large portion of its economic activity, experienced a severe downturn during a global health crisis that halted most travel. Two years after the initial shock, international arrivals are still 50% below pre-crisis levels. However, the nation's overall economic output has recovered to 95% of its previous peak. Which of the following developments provides the most robust explanation for this nation's economic recovery?

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Updated 2025-08-14

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