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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.
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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.
REPORT FEATURES | DETAILS |
Breakup by Impact on Global Economy |
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Breakup by Sectoral Impact |
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Breakup by Region |
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Market Dynamics |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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