Summary: It is true that coronavirus has hit the tourism business hard, but there are ways to get out of the mess. Experts like EJ Dalius are here to talk about it.
From the recent research values, it was pretty obvious that the COVID 19 brings travel to a complete standstill. It causes massive revenue and job losses. Now the real question is whether this scenario will ever come to an end or not. Experts like Eric Dalius are willing to share their thoughts on this topic.
It is difficult to pinpoint the losses that the tourism business has gone through, but the rapid data changes. Can clearly portray its current standing. If this pandemic continues for a few more months, then the World Travel and Tourism Council will project. A globalized loss of around 75 million jobs along with a $2.1 trillion loss in the revenue sector.
Recent upsurge all around the globe:
There are various business owners trying to lobby governments to provide support to the travel business. According to them, these potential job losses will be bringing profound worry to so many families globally. When compared to the global count, America’s travel sector got the hardest blow.
In recent events, it was calculated that the USA Travel Association projected a loss of around 4.6 million jobs throughout. The entire May month and this figure are here to grow. It is also calculated that this number will skyrocket to 6.6 million by doubling every week. This decline in the tourism sector is one reason. For major job loss, according to EJ Dalius, affecting multiple states.
Waiting for the vaccine:
Even if the lockdown gets lifted up, it will take. A hell of a lot of time for the tourism business to be back on its feet. Nothing will come to its original shape unless there’s a vaccine hitting the market. People aren’t comfortable moving out of their house, let alone into foreign lands. So, even if the tourism sector gets into business, it will only be to entertain domestic areas.
The travel sentiment, right now, is taking the back seat with an increasing number of COVID cases. This has left the entire sector along with transport, tour operators, restaurants, hospitality, guides, and other jobs literally gasping for air! It will stay like this, at least for the next year. When it is estimated that the vaccine might hit the market. Once it comes out, the travel sector will be back in business!
Taking some immediate actions:
SME travel firms can actually survive by cutting the overheads. In case you don’t have any income, there is no call for overheads. Right now, as per EJ Dalius, cash is the real deal, and you have to save as much as you can! The easiest cut remains with the staff. Every business expense and working practice needs to be re-negotiated, looked at, and even stopped.
It will cover the business rates as paid to the national and local authorities. Rents gave to landlords for the premises, computer maintenance along with another office spending, and much more. Keeping a close watch at every step of business is really important. And that goes for the travel and tourism sector as well. So, take note of that!