Travel Industry Suffering The Wraths of Coronavirus Outbreak
Neither war nor a natural disaster is a pandemic that can disrupt human lives and devastate everything within moments. That’s exactly what Coronavirus or COVID-19 has caused to the world. Originated from the Wuhan city in China, COVID-19 has now emerged into a pandemic claiming thousands of lives around the world. There is almost no country left on the globe that has been untouched by Coronavirus. Every country, every continent, is suffering the wraths of Coronavirus.
The current death toll of Coronavirus as of April 03, 2020 data stands at 54,198 with a staggering number of live cases at 1,030,205. The numbers are quite horrifying and clearly states the gravity of the issue. There’s no doubt in asserting that the world is suffering the consequences of Coronavirus. Whether it is struggling with diseases or coping with a life of isolation, everyone has their own story to tell about this phase.
It is a respiratory virus that is spread through physical contact when a person coughs or sneeze or saliva from the nose. There is no cure for Coronavirus that has heightened the issue into a pandemic. Social distancing and isolation are two of the important things that cam tame down the spread of the virus.
The Effect Of Coronavirus on Travel Industry
Everyone is sharing their bits of suffering due to Coronavirus. It is quite certain that mass lockdown and social distancing will severely effect industries. As people are forced to sit in their homes and take their work home, there are many industries that are currently suffering grave losses. And the travel industry is one of the largely affected industries due to the Coronavirus outbreak.
“US travel industry has suffered $910 B loss due to Coronavirus outbreak.”
Since the outbreak of Coronavirus in the world, the travel industry has started suffering the losses. The impact of COVID-19 on the travel industry is grave and intense. With flights canceling due to lockdowns, the airline industry has to refund all the canceled tickets to the customers. The International Air Transport Association has decided to issue vouchers instead of refunds. It is important to understand with the cancellation of flights, and the tourism industry is also under grave losses.
It is imperative to maintain social distancing and avoid crowding as much as possible to reduce the spread of Coronavirus. So, it is essential to cancel the flights and support the lockdown all around the world. With the increase in the number of live cases around the world, it can be stated that the lockdown situation will be extended to reduce the consequences. Not just the airline industry, even the hospitality industry is drenched in losses due to the increased COVID-19 cases. People have stopped going to hotels that led to a drop in hotel occupancy.
Coronavirus Taking Down On The Hospitality Industry
Since the outbreak of Coronavirus after the Chinese Lunar Year, the hospitality industry started to witness downpour in the sales. The COVID-19 pandemic had catastrophic consequences on the hospitality industry. There are hundreds of hotels that are on the verge of winding up due to the extreme losses they are suffering.
The hotel occupancy has plunged down, leaving hotels with no other options than shutting down. It is clear that even things get straight, it would take at least a year or two to reclaim the significance of the hospitality industry. COVID-19 is a clear example of how essentially we need a substantial resource and planning to manage pandemic like this.
Not only hotel occupancy rates have got down, but there are also millions of jobs are at stake. According to the American Hotel and Lodging Association, 45% of hotel jobs have started to eliminate in the next few weeks. The current forecasts state that there will be a 30% drop in hotel occupancy over the next years that will eventually result in loss of major hotel jobs, including general managers as well.
What’s Happening In The Travel Industry?
The travel industry has plunged into the abyss of loss. According to the report, the travel industry officials are meeting with the Coronavirus task force at White House to discuss the economic impact of Coronavirus on the travel industry.
Adhering to the current impact of Coronavirus on the travel industry, the hotel industry is expected to lose over $1.4 billion in the next weeks.
Marriott Hotels have been eliminating the employees from major job profiles to compensate for the losses.
Due to the widespread cancellations of hotel booking and low hotel occupancy, it is said that it will take around 2-3 years to set things straight in the hospitality industry.
Coronavirus Will Continue To Impact The Travel Industry
The current lockdown due to the Coronavirus is a cruel sign of destruction among the industries. The travel industry is the most affected by the Coronavirus outbreak. It is true that the hospitality industry needs an urgent action plan and specific solutions to take charge of the situation. Social distancing is the only way to stop the spread and hotels have to keep up with the losses in order to fight off the Coronavirus.