Comparative study of financial management before, during, and after the Covid-19 pandemic of Mae Kampong Village Homestay business, Chiang Mai province.

Abstract

One type of travel that contributes to sustainable tourism is the homestay.
Mutual exchange of cultural knowledge leads to the final distribution of
revenue within society. This study aimed to provide a comparative analysis of
the financial management of the Mae Kampong village homestay business in
Chiang Mai province prior to, during, and following the COVID-19 pandemic.
Data were gathered from 50 homestay owners in Mae Kampong village, Chiang
Mai province, using a questionnaire, and from the community chief, in-depth
interviews were performed. Frequency, percentile, mean, standard deviation,
and context analysis were used to examine the data. The research revealed
that all homestay owners are Mae Kampong village cooperative members.
Most of them had run a homestay business for 1–5 years. They hold a primary
education and run other types of business apart from homestay, such as owning
a shop. During the Covid-19 pandemic, most of the samples had less income
than before the Covid-19 pandemic, and the income increased again after the
Covid-19 pandemic. They had a similar amount of expenditure in the three
periods. They did not have savings and investment prior and during Covid-19
pandemic, but they had more saving and investment after Covid-19 pandemic.
Some samples had debt which came from homestay renovation. During
Covid-19 pandemic, most of the samples had lower proportion of income from
homestay than pre Covid-19 pandemic, but the homestay income was higher
again after Covid-19 pandemic.