I see the best plays right now in countries with currency plays (Brazil) and/or heavily dependent on tourism which has been crushed  by Covid (Italy).  

Check the tourism statistics: number of tourists, length of the season if seasonal, competition from hotels, hotel occupancy rate, is the place gaining or losing in popularity;2.

We did have a chance to do some development in Vietnam, but at the end of the day we simply did not feel comfortable with the politics. 

Here in the Myrtle Beach market the local economy has relied on tourism (and to a large extent short-term rentals) for decades. 

Black Hills in general presently at a 1% vacancy and seeing a lot of growth and persistent tourism.  

Tourism is a pretty major part of the economy, as Missoula is one of the gateway communities to Glacier, as well as a transit point between Yellowstone and Glacier.

Tourism is down but so is competition. 

Based on comps and tourism traffic, I really think the location would perform best as a STR/AirBnB/VRBO once a building sits on the lot.

I think markets that rely heavily on tourism would do well with something like this.

This is particularly true for tourism-dependent STRs (tourism-dependent markets tend to get hit hardest in recession, because recreational travel is often the first thing people cut from their budget in a tough economy).To make things even more complicated, Air Bnb recently changed their platform significantly to focus on A+ top-end, highly unique properties (think: luxury waterfront treehouses).