As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The COVID-19 pandemic has hit the whole world deeply by infecting more than 1 million people and taking more than 50,000 lives worldwide. With more than one-third of the world's population subject to constraints, it is evident that the world is facing an economic recession.
The global travel and tourism market is obviously one of the worst-hit, and the ban on international flights has majorly impacted the sector. While sectors such as aviation and hospitality have suffered, other travel-related industries have been affected more than aviation or hotels, like foreign exchanges.
The tourism industry faces several internal and external challenges, many of which are uncontrollable such as economy, natural disasters, exchange rates, etc. Many countries of the world are highly reliant on tourism. It is widely acknowledged that small and medium-sized businesses, including the tourism industry in the most impacted areas of the world (e.g. Italy, Spain, etc.), have been the worst hit.
The industry is would, in due time, recover. It is likely that domestic tourism would be the first to recover. There will be plenty of demand, but travellers will be very cautious at first. It would take longer for long-haul flights to recover.
This exclusive report by EMR explores the outbreak of COVID-19, its impact on the global and regional economies, and its implications on the travel and tourism sector. The report studies the impact of the crisis on the global economy by assessing parameters like consumption, GDP, business investment, residential investment, inventory, and governmental policies and decisions. The regional economies analysed for Q1 2020 till Q4 2021 are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Keeping in mind the prevailing conditions, EMR's new report titled, the 'Impact of COVID-19 on the Global Travel and Tourism Market', gives a holistic understanding of the exposure of the travel and tourism sector to COVID-19, covering markets such as:
For each of the above segment, the EMR report also gives an in-depth understanding of both the supply and the demand sides of the market by analysing:
With a focus on helping business leaders navigate through the shifting landscape, EMR also proposes some key short and medium to long term policies that look towards future growth while minimizing the economic damage.
Our experts at EMR leverage proprietary data, models, and expert opinion to provide timely insight into what the emerging pandemic means for the current needs of the market and future strategies of the industry players. We concentrate on helping our customers better understand the economic challenges, conditions, and uncertainty faced across all markets around the world. COVID-19's impact on the travel and tourism sector may take an extended period to correct, but global players can refer to our detailed report showcasing the impact on various sectors and mitigate risk in advance.
We have also updated all our reports considering the impact of COVID-19 coronavirus on the various industries. Check out the reports in other categories to get a deeper understanding of how the COVID-19 has been impacting your industry in particular.
1 Report Coverage – Key Segmentation and Scope
1.1 Impact on Global Economy
1.2 Impact on Regional Economy
1.3 Economy Outlook
1.4 Sectoral Impact and Outlook
2 Impact on Global Economy
2.3 Business Investment
2.4 Residential Investment
3 Impact on Regional Economy and Outlook: Q1 2020 - Q4 2021
3.1 North America
3.2.1 United Kingdom
3.3 Asia Pacific
3.3.2 Indian Subcontinent
3.3.3 South East Asia
3.3.5 North East Asia (Excluding China)
3.3.6 Australia and New Zealand
3.4 Latin America
3.5 Middle East and Africa
3.5.1 South Africa
3.5.5 Saudi Arabia
4 Impact of COVID 19 on the Travel and Tourism Market and Outlook
4.1 Historical Market 2016-2020
4.2 Market Forecast 2021-2026
4.3 Key Challenges
4.3.1 Global Challenges
4.3.2 Regional Challenges
4.3.3 Local Challenges by Key Countries
4.4 Key Initiatives
4.4.1 Global Challenges
4.4.2 Regional Challenges
4.4.3 Local Challenges by Key Countries
4.5 Regional Impact on the Travel and Tourism Sector
4.5.1 North America
4.5.3 North America
4.5.4 Asia Pacific
4.5.5 Latin America
4.5.6 Middle East and Africa
5 Sectoral Impact Market Outlook Q1 2020 – Q4 2021
5.1 Accommodation Services
5.1.1 Supply Side
22.214.171.124 By Parameter
126.96.36.199.1 Price Variations
188.8.131.52.2 Production Shutdown
184.108.40.206.3 Cash Flow Constraints
220.127.116.11.4 Supply Chain Disruption
5.1.2 Food and Beverage Services
18.104.22.168 By Parameter
22.214.171.124.1 Lockdown Impact
126.96.36.199.2 Consumer Sentiment
5.2 Transportation Services
5.2.1 Supply Side
188.8.131.52 By Parameter
184.108.40.206.1 Price Variations
220.127.116.11.2 Production Shutdown
18.104.22.168.3 Cash Flow Constraints
22.214.171.124.4 Supply Chain Disruption
5.2.2 Demand Side
126.96.36.199 By Parameter
188.8.131.52.1 Lockdown Impact
184.108.40.206.2 Consumer Sentiment
5.3.1 Supply Side
220.127.116.11 By Parameter
18.104.22.168.1 Price Variations
22.214.171.124.2 Production Shutdown
126.96.36.199.3 Cash Flow Constraints
188.8.131.52.4 Supply Chain Disruption
5.3.2 Demand Side
184.108.40.206 By Parameter
220.127.116.11.1 Lockdown Impact
18.104.22.168.2 Consumer Sentiment
5.4 Cultural, Sports and Recreational Services
5.4.1 Supply Side
22.214.171.124 By Parameter
126.96.36.199.1 Price Variations
188.8.131.52.2 Production Shutdown
184.108.40.206.3 Cash Flow Constraints
220.127.116.11.4 Supply Chain Disruption
5.4.2 Demand Side
18.104.22.168 By Parameter
22.214.171.124.1 Lockdown Impact
126.96.36.199.2 Consumer Sentiment
6 Key Policy Recommendations
6.1 Short Term
6.2 Medium to Long Term
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