INTHEBLACK December 2020 - Magazine - Page 38
F E AT U R E
// T O U R I S M I N D U S T RY
The largely deserted forecourt
of the Louvre in Paris, in
October 2020. The Louvre is
one of the most visited
museums in the world, but
visitor numbers have dwindled
to less than a third compared
to the same time last year.
STORY SUSAN MULDOWNEY
WHILE BUSINESSES IN SEVERAL SECTORS PIVOT
THEIR OPERATIONS TO STAY AFLOAT, THE TRAVEL
INDUSTRY NEEDS TO VENTURE FURTHER WHILE
BEING VERY MUCH GROUNDED.
AT A G L A N C E
Tourism is in dire straits,
with international travel
not expected to return
to normal until 2024 and
more than 197 million
jobs in jeopardy.
38 ITB December 2020
While industry experts
are confident in people’s
desire to travel after a
they are also concerned
that insufficient funds
might prove to be a
Amid the challenges,
are making use of
opportunities to evolve
their product offering
using technology such
as virtual reality.
f it were any other year, there is a good chance you would be gearing
up for your annual holiday right about now. You might be heading to
another part of the country to be with family, or flying overseas for a
longer break. However, 2020 has been a year like no other and, for most
of us, travel plans are officially on hold.
The COVID-19 pandemic has created a global health and economic
crisis unprecedented for most of us and, while no industry has been
immune to its impact, few have been hit as hard as the travel sector.
Many businesses in the sectors most exposed to COVID-19, such as
hospitality, have been able to adjust their model to continue trading at
For the travel industry, however, there is barely a product left to sell.
Research from the World Travel and Tourism Council estimates that
prolonged pandemic restrictions could jeopardise more than 197 million
jobs in the sector and wipe off more than US$5.5 trillion (A$7.5 trillion)
from global GDP. Meanwhile, the International Air Transport Association
intheblack.com December 2020 39