Jets on the floor, empty hotel rooms, canceled trade fair. The travel industry groans under the virus consequences. After thorough preparations that include hiring roofing contractors to ensure better accommodation for guests, the travel industry suddenly was forced to go on a halt.
Corona Virus on Global Travel Industry
A virus travels the world and paralyzes the tourism business. It is scratching the global frosting of this growth industry. Around 10 percent of the world’s gross domestic product is generated with this business. Tourism represents 10 percent of the world’s jobs. Tourism mobilizes related economic sectors such as the automotive industry, the housing, road, ship and aircraft construction, the catering, souvenir and map industries. The number of tourists worldwide is continuously increasing – so far. Global tourism revenue was $ 1,340 billion in 2017. Put it one behind the other in dollar bills, it would be a stretch from Earth to … but let’s not do that.
The countries with the highest international tourism expenditures are by far China, the USA, and Germany. The most popular tourist destinations of all nations are France with almost 90 million international tourists arriving, followed by Spain and the United States.
The big holiday business is a sensitive industry that has to react with extreme caution to natural disasters, political crises, attacks and epidemics. The current evaluations show that new bookings have decreased significantly since the beginning of February according to travel data panel
For many service providers in the tourism industry – from airlines to hotels and restaurants to coach companies, tour operators and cruises – the corona virus is already associated with massive economic losses. This virus is the purest poison. The anxious question is: Will this just be a booking dent? Or is there worse to fear?
How massive and long-term the consequences are cannot be assessed at present, this will depend on the duration and extent of the corona crisis. Because the travel industry also sells the security.