新冠疫情爆發以來，各國政府各有採取不同的防疫措施。許多研究表明，此次新冠疫情之政府相關管制政策嚴重影響各國經濟，尤其對觀光業造成衝擊，旅宿業者則是首當其衝。本研究旨在探討臺灣防疫政策對旅宿業者之因果效應與績效之影響。因此，本文以中斷時間序列研究方法，分析政府推出相應的管制與補助政策，對旅宿業中的觀光旅館業、旅館業、民宿業是否存在異質性。管制政策包含了邊境管制、警戒制度等。補助政策包含紓困1.0至紓困4.0、安心旅遊、悠遊國旅，以及於疫情期間發放兩次振興券。
　　研究結果發現，新冠疫情政策對旅宿業影響明顯，但效果因政策類型、客源結構與業別差異而有所不同。三級警戒是影響最劇烈的管制性政策，而管制鬆綁政策對旅宿業績效的影響存在政策效果延遲。紓困政策在新冠疫情最嚴重時實施，呈現部份的正向顯著效果。而綜合型國旅政策對比振興券更能提升旅宿業績效。取消警戒及振興五倍券對民宿業績效皆產生正向顯著影響，與其它旅宿業具有異質性。本研究成果除了可作為下次疫情發生時政府推動因應政策之規劃外，亦可供旅宿產業在疫後管理與發展之參考。

Since the outbreak of COVID-19, governments around the world have adopted various epidemic prevention and control measures. Numerous studies have shown that government regulatory policies introduced during the pandemic had severe effects on national economies, particularly on the tourism industry, with the accommodation industry being among the sectors most directly affected. This study aims to examine the causal effects of Taiwan’s COVID-19 response policies on the performance of the accommodation industry. Therefore, this study employs an Interrupted Time Series (ITS) design to analyze the heterogeneous impacts of government control and subsidy policies across different hospitality sectors, including tourist hotels, hotels, and B&Bs. The regulatory policies include border controls and epidemic alert measures. The subsidy policies include Relief Programs 1.0 to 4.0, the Safe Travel Program, the Domestic Tourism Subsidy Program, and the two rounds of stimulus vouchers introduced during the pandemic.
The results show that COVID-19 response policies had substantial effects on the accommodation industry, but the magnitude and direction of these effects varied by policy type, customer structure, and business category. Level 3 alert for COVID-19 is the most impactful regulatory policy, whereas the deregulation policy exhibited a delayed effect on accommodation performance. Relief policies implemented during the most severe stages of the pandemic did not show significant effects. By contrast, nationwide domestic tourism subsidy programs were more effective than stimulus vouchers in improving the performance of the accommodation industry. The lifting of epidemic alert restrictions and the Quintuple Stimulus Vouchers both had significant positive effects on B&Bs’ performance, indicating heterogeneous policy effects between B&Bs and other segments of the accommodation industry. The findings of this study may serve as a reference for future government planning of pandemic-response policies and for the post-pandemic management and development of the accommodation industry.

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