While the COVID-19 pandemic is dealing a crippling blow to the hospitality industry, companies that have already adopted virtual collaboration tools will be better able to adapt to disruptions caused by the crisis.
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The current estimated loss to the sector in India is currently pegged at a daunting Rs 5 lakh crores and job losses to the tune of 4 to 5 crores. These could worsen further depending on how much longer it would take to contain the pandemic.
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As the pandemic evolves rapidly and shows little signs of abating, accurate mapping of the scale of its economic impact may not be possible as yet.
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According to the International Air Transport Association (IATA), the airline sector could lose up to US$113 billion this year due to the COVID-19. Several leading airlines such as Lufthansa and Air France-KLM, have either stalled their flight operations or announced slump amidst the dwindled demand.
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Contactless check-in and robot room service might become the norm rather than the novelty gimmicks they seem to be now.
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COVID-19 has put us into a ‘New Normal’ which indicates that the entire industry is at a ‘Pivot Point’.
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Currently, according to WTTC estimates, 75 million jobs are at immediate risk with a staggering estimated one million people losing their jobs every single day. The research reveals a potential loss in Travel & Tourism GDP of $2.1 trillion in 2020 alone.
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In view of unprecedented travel restrictions and almost complete lockdown, all over the world, UNWTO expects that international tourist arrivals will be down by 20 to 30% in 2020.
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Here is a healthy and easy home recipe for people who are working from home in quarantine.
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Here is a healthy and easy home recipe for people who are working from home in quarantine.
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