The coronavirus pandemic has hit the travel industry hard. Travel plans have been disrupted globally by the lockdown measures that have been put in place by different countries. People have been urged to stay at home as a way to curb the spread of the virus. Hundreds of territories and countries have imposed different measures to deter or restrict people from traveling across their borders.
This is the first time that countries have extremely restricted international travel. From border closures to flight suspension, massive lockdowns have cost the travel industries billions of dollars. Major airlines have reported that they are running out of funds. Millions of individuals that work in the travel and hospitality industries have also lost jobs. Essentially, the travel industry is among the major casualties of the COVID-19 pandemic.
How Coronavirus Has Affected Different Travel Sectors
Since the announcement of COVID-19 as a pandemic, many countries imposed travel bans and restrictions. This affected many businesses in different countries. For instance, travel agencies could no longer continue their travel plans. That means they suffered major losses because they couldn’t get clients.
Travel curbs by different territories and countries have affected airlines and cruise businesses. These have been the major casualties of this pandemic. Passenger revenue has reduced by billions. Many people working for airlines and cruise businesses have also lost their jobs.
Hotel occupancy has also dropped. That’s because people are not traveling. As such, hotels have reduced their rates as they try to attract clients. But, they are still not receiving visitors because of the travel restrictions that have been implemented by different countries.
The Bottom Line
The entire travel industry has been hit hard by the coronavirus. Millions of jobs have been lost since the announcement of the COVID-19 pandemic. However, there’s hope that the industry will recover as more countries start to ease their travel restrictions.