COVID-19 Industry Pulse Report: Tourism
The COVID-19 pandemic presents an unprecedented humanitarian crisis which has quickly developed into a severe global economic downturn that will have long-lasting consequences. The travel and tourism sector was one of the first sectors to feel the impact and is one that will likely be among the last sectors to experience a meaningful recovery. There is substantial uncertainty on what will happen, and a lot will depend on exogenous factors such as the availability of a vaccine in the medium term, the health situation in key feeder markets and changing attitudes to travelling in the long-term across all segments including leisure, business and mass events.
What is clear, however, is that the road to recovery requires coordinated actions across all levels and stakeholders, local and abroad. The tourism sector, a key pillar of the economy, has a critical role to play in our economic recovery.