The Coronavirus’ Effect on the Airline, Hotel & Travel Industry

The Coronavirus pandemic the airline, hotel and travel industry, including all of the many sectors that serve it, such as online booking sites, caterers and convention centers. The United Nations World Tourism Office (UNWTO) estimated that the travel industry suffered export revenue losses of $1.3 trillion during all of 2020. International arrivals fell 74% from 2019 (compared to a 4% drop during the 2009 global economic crisis). This put between 100 million and 120 million jobs at risk. For airlines, passenger numbers plummeted, while hotel bookings dropped to dismal levels.

Coronavirus-Related Factors:

= In many nations, borders were closed to foreign travelers, or countries required travelers to undergo 14-day quarantines upon arrival.

= Public events, meetings, sports events, conventions and gatherings of all types that would have attracted travelers were cancelled, from destination weddings to sports events.

= Cruise lines cancelled sailings and anchored their ships, deterring millions of would-be vacationers worldwide. Many lines returned to cruising in late 2021.

= The travel industry is forced to spend heavily on supplies and staff for new sanitization practices.

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The Coronavirus’ Effect on the Airline, Hotel & Travel Industry, Business and Industry Trends Analysis

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