How will the tourism industry bounce back in the next 2 years?
Coronavirus halted travel almost instantly, leaving the travel industry bleeding out from every orifice imaginable. The money lost; a jaw-dropping $9 trillion in 2020 alone, and the year isn’t even over. With about 530,000 travel industry workers furloughed, the travel and tourism sector was one of the worst hit by the pandemic.
Most people fear traveling and with good reason. Now, 6+ months into lock down, countries have been making changes and slowly opening their doors to antsy travellers.
Most travellers aren’t willing to travel abroad yet and have opted for local destinations within proximity of home.
Because working from home has proven to be feasible, many people are looking to incorporate work and R&R in one by opting to stay longer at a location instead of cramming their vacation into less time. Also, because people aren’t traveling out of the country, they’re booking larger home-sharing accommodations, according to Chris Lehan, Global Policy VP of Airbnb.
Airlines never completely shut down, but they allowed fewer people on planes, about 60% capacity, and cut off all food and beverages during flights, plus added stricter cleaning protocols. At some point, though, the airlines will start trying to fill planes to full capacity because margins aren’t sustainable with fewer people onboard.
It might take some time to get back to pre-pandemic travel, but with new-fashioned ideas, strategies, and ambition, we’ll see the travel industry bounce back.