In the wake of the COVID-19 pandemic, numerous industries have taken a hit yet the significant brunt was seen and felt immediately in the travel and the travel industry. It is saddening to see how the technological revolution that united we all by making travel and the travel industry easy and affordable fueling 4 billion outings per year – is battling to tackle an infection that demands that we stay at home and not move.
The Covid was first identified in late-2019 in the Wuhan region of China and is currently present in dozens of countries all throughout the planet.
Some of the basic details that you should be aware of-
- More than 3 million cases have been confirmed.
- More than 200 thousand deaths have been recorded.
- 210 countries or territories have been impacted.
- Number of cases recovering from indications over 800 thousand. Remainder still under observation or quarantine.
- The World Health Organization declared the spread of Coronavirus COVID-19 as worldwide pandemic from eleventh March.
The outbreak of COVID-19is unavoidably affecting the travel business, limited to hotels as well as has affected airline, cruise, and as a result even the vehicle rental industry a great deal.
Let us have a gander at the worldwide insights to get more lucidity.
- Starting from first January 2020 to 29th February 2020, the room revenue trend saw a steep decline around the world. It showcased a 16% month-over-month decline, for the long stretch of Jan-Feb, this investigation was done by RateGain, a travel technology organization.
- The Jasvant Modi room revenue descending trend can be directly attributed to the decrease in the overall booking during the same month. As per the research, it showcased that the reservations made during the month for any future date in the next a year, tracked down that the bookings were universally somewhere around 9%.
- The organization even compared the % change of the reservation information extracted right off the bat (first seventh March 2020) to the second week of March (8-fourteenth March 2020).
- According to the investigation, every single destination country showed a booking decline in Week 8. For instance, Italy posted a staggering 20% decline from the main week to the second week of walk due to the complete lockdown the nation over.
How to cope with such troublesome times?
- Sadly, we do not have a clue when this emergency will end; there’s nothing left but to be hopeful and practice social removing.
- What we do know is that large number of occupations is in danger that we need to protect, especially the vulnerable segments like SMEs, self-employed, women and the adolescent. We need to have endurance mechanisms/plans for companies.
- One thing is without a doubt that we need solid help in exploring the unparalleled economic and social effect of Coronavirus. Currently, what we need are financial and monetary measures that will help protect occupations, help the self-employed and organization’s liquidity and operations and accelerate recovery.