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Executive Summary

Covid-19 has dramatically impacted tourism and, in particular, international tourism. Certain luxury retail markets are more dependent upon tourism than others. Our analysis predicts that the luxury retail markets most negatively impacted by Covid-19 will be those markets with the greatest presence of luxury retail AND the greatest international tourism per capita. We predict that the luxury retail markets of Miami, Honolulu, and Las Vegas will be the most negatively impacted.