Neither a war nor a natural disaster,it is the COVID-19 coronavirus whichis responsible for causing the worldwide pandemic that we are facing. It has swiftly disrupted our way of life,claiming thousands of lives andcausing mass devastation. Originating from the Wuhan city in China, there is now almost no country left on the globe that has been unaffected by this coronavirus. Every country, every continent, is now suffering from it’s wrath.
The current death toll of COVID-19 as of May20, 2020 data stands at over 330,000 with a staggering number of live cases at over 5 million. The numbers are quite horrifying and clearly present the gravity of the situation. There is no doubt in asserting that the entire world is suffering from theconsequences of thiscoronavirus. Whether it is struggling with the disease or coping with life in isolation,everyone has their own story to tell about this phase.
COVID-19 is a respiratory virus that can also spreadwhen a person coughs or sneezes, infecting others with their nasal and mucous droplets. Since there is no cure for COVID-19 as of yet, the situation has turned into a terrifying pandemic. Social distancing and isolation are just two important measures to curb the spread of thiscoronavirus.
The Effect Of Coronavirus on the Travel Industry
Everyone is sharing their experiences of sufferingdue to COVID-19. It is quite certain that the mass lockdown and social distancing will negatively affect all industries and even the economy as a whole. As people are forced to sit and work from homes, the industries will suffergrave losses. And without a doubt, the travel industry will be one of the hardest hit during the outbreak.
“US travel industry has suffered $910 B loss due to Coronavirus outbreak”
Since the COVID-19 outbreak, the travel industry has been heavily impacted. With flights having to cancel due to lockdowns, the airline industry has had to refund all the cancelled tickets to their customers and the International Air Transport Association has decided to issue vouchers instead of refunds. It is important to understand with the cancellation of flights, the tourism industry will also suffer tremendous losses.
It is extremely crucial to maintain social distancing and avoid crowding as much as possible in orderto flatten the curve. Hence, it is essential to cancel the flights and support the lockdown all around the world. With the increasing number of live cases globally, it can be assumed that the lockdown will be extended to reduce the pandemic proportions. Along with the airline industry, the hospitality industry is also suffering in losses due to the increased COVID-19 cases. As an example, travellers have stopped checking into hotels,causing a steep decline in hotel occupancy.
Coronavirus Negatively Impacting the Hospitality Industry
Amid the outbreak of COVID-19 following the Chinese Lunar Year, the hospitality industry has witnessed a hugedrop inoccupancy. There are hundreds of hotels that are on the verge of closingsimply because they cannot sustain without occupancy revenue.
It is now becoming more and more evident that even when the pandemic improves, it will take at least a year or two to reclaim the significance of the hospitality industry. As such, COVID-19 is clearly a prime example of the importance of outlining a detailed plan that manages and reacts to future pandemics. One of the keypointswould be the requirementof allocatingmonies to maintain a special fund for future disaster recovery.
Not only have hotel occupancy rates declined, but millions of jobs are also at stake. According to the American Hotel and Lodging Association, 45% of hotel jobs are eliminating in the next few weeks. The current forecasts indicate that there will be a 30% drop in the hotel occupancy over the next few years and eventually this will causemajor hotel jobs losses, including General Manager positions.
What’s Happening In The Travel Industry?
The travel industry has plunged into the Abyss! According to the report, the travel industry officials are meeting with Coronavirus task forces at White House to discuss the economic impact of COVID-19 on the travel industry.
• Adhering to the current impact of Coronaviruses on the travel industry, the hotel industry is expected to lose over $1.4 billion in the following weeks.
• Marriott Hotels have been eliminating their employees from major job positions to compensate for the revenue losses.
• Due to the widespread cancellations of hotel bookings and low hotel occupancies, it is said that it will take around 2-3 years for the hospitality industry to recover.
Coronavirus Will Continue To Impact The Travel Industry
The current lockdown due to COVID-19 is effectively destroying industries, especially the travel industry. It is urgent that the hospitality industry create an immediate action plan to handle the situation. Social distancing and crowd control are few ways to reduce the spread and hotels have to be able to sustainduring this era of the pandemic.