Third-Party Reports / COVID19 Industry Pulse Report - Tourism

COVID19 Industry Pulse Report - Tourism

🕔 June 3, 2020
COVID19 Industry Pulse Report - Tourism

Author: Ernst & Young

Description:

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.

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