There has been a lot of stress on the Tourism and travel market since the pandemic started. Although it has been half a year, the condition of the travel and tourism market doesn’t get any better.
The COVID-19 pandemic posed some strict rules and policies towards travel worldwide. In the starting months of the pandemic, travel around different countries was banned and prohibited due to security measures against the virus.
These lockdowns and the travel ban disturbed all the systems across the globe. Although however, many seem to recover from this shock. Others face a lasting effect on their businesses. Since traveling was completely banned during the period of the COVID-19 pandemic, people were able to save funds that they were not able to spend upon traveling at that time.
Therefore, they are now using their savings to go on trips or vacations. Since people are trying to spend their time on vacations, which they were unable to go during the pandemic, some call this behavior of people’ revenge trips’.
Furthermore, many great businesses are opening as they’ve resent their system to the physical one, as most businesses were operated online during the pandemic. Despite the great losses that many travel sectors suffered in previous years, many have started to recover as people try to continue their travel and cover up what they left during the COVID-19 pandemic.
This is a good driving factor for new startups, as they can build the complete ladder to reach the top. As a result, the overall growth observed in the travel sector has increased by 25% than the previous years.
Moreover, new startups have achieved great progress in their businesses. In addition, several other startups have also started providing services that further enhance the experience of travel, such as luxurious hotels and vehicles, yachts, and zip lines in some areas with beautiful scenery to maximize their clients’ experience.
If the case mentioned above is viewed globally, the European countries and the United States have quickly recovered from the loss. However, Asian countries still suffer from the shock, especially China, in which lockdowns and other security measures are strictly followed. Furthermore, these policies are expected to be applied until next year. Therefore, the businesses in the Asian regions might be quite low for some time.
