The future of Travel Industry: How COVID-19 has impacted the Travel Industry Globally?

Global Tourism Industry

Global Tourism Industry

Governments throughout the globe have put significant travel restrictions in position over the dissemination of COVID-19. In March, The U.S. State section placed a level 4: ‘Do Not Travel’ advisory, the highest official release, urging Americans to prohibit worldwide travel. The very week E.U. implemented a 30-day ban on non-vital tour to at least 26 European nations from the remainder world.

The PEW Research center based in Washington, D.C. reports that at least 93 percent of the world’s residents now dwell in nations with virus linked travel limitations. That makes nearly 3 billion citizens living in a country enforcing complete shutdown to foreigners.

Therefore left many tourists and travelers stranded abroad or even at flight terminals. The recent statement by the U.S. Secretary stated ‘it’s too hard to tell’ if the U.S. would ease travel restrictions at all this year for the passengers, Even as restrictions are starting to loosen up domestically, it still mainly affects travelers from Europe and Asia.

At the end of 2019 global tourism industry ad hit a record year for travel, but due to the pandemic a few months later it could take years for the industry to recover from all of its losses. Data and consulting firm Tourism Economics released the statement that ‘the global demand likely won’t return to its average pace until 2023.

The hospitality and tourism sector is assumed to lose 100 million in the workforce in 2020 overwhelmingly impacting countries in Asia, which also could lead to an expected $2.7 trillion decline across the global travel and tourism GDP. Among the figures, passenger earnings for airlines will dive by $314 billion this year approximately a 55% sink from 2019 projected by the International Air Transport Association.

This pandemic has affected the entire travel industry, including airlines, hotels, cruise lines, tourism destinations, and online travel agencies. Sectors of the industry are starting to prepare for a post COVID world of travel. The governments are providing for aid funds for areas however the losses are much higher than projected, with the businesses down to issue vouchers instead of refunds for cancellations of tickets.

The collaboration of travel associations to put up a guide called ‘Travel in the new normal’, plans to intensify cleaning measures, social distancing, and contactless payment procedures for hospitality operations to get back to its normalcy. The coronavirus pandemic has caused us to redesign employment practices and public areas to help protect staff and customers. All these attempts are to vivify the industry that has been shedding $18 billion a week.

There needs to be a shift the accustomed attention to security and stricter airport monitoring to wellness, health, and reducing the spread of the virus. There remains the uncertainty to which extent would be the losses for us, with the vaccine still in the pipeline makes each of us worry. However, the government measures and guidelines prove to be useful, with the increasing number in recovery our thoughts are positively favorable for the better future.

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