Due to the coronavirus pandemic outbreak, the entire world has been affected. Many countries worldwide declared a complete lockdown in operations and businesses to protect humans from the spread of the deadly coronavirus disease. The world economy has suffered massive loss because of the pandemic. People are suffering from mental stress and panic attacks since everything has come to a sudden pause. They are full of fear and anxiety to prevent themselves from getting affected by the disease.
Business losses and Unemployment
Businesses all around the world have incurred huge loss due to no operations been carried out during the lockdown. All industries such as export, retail, fast-moving consumer goods, export, food, healthcare, beauty, hospitality have been adversely affected by the coronavirus outbreak.
However, the most affected industry, due to these situations, is the tourism industry. The tourism industry has been closed down entirely due to zero operations. Due to lockdown, people are not allowed to travel. Flights and all transportation services are restricted as well, which leaves the tourism industry in a state of enormous loss.
The travel restrictions and lockdown have had a significant impact on the tourism industry. Even after the lockdown is released, people will be hesitant is travelling to other places. They would prefer staying indoors as much as possible and would only go out if necessary. Tourism has always been one of the most revenue-generating industries in India due to the presence of various tourist destinations in India. India has a rich culture and heritage which people from all over the world come to witness and admire.
Unfortunately, due to the coronavirus outbreak, people have become more cautious in travelling to places. They have a fear of acquiring the disease so refrain from travelling, attending social gatherings or events and visiting crowded places. Tourist rich places are majorly crowded with people which further increases the risks of being affected with the deadly coronavirus disease even more. The alarming rate at which the disease is affecting the world population is saddening. If the cases keep rising at such a high speed, the tourism industry might need several years to bounce back in full-fledged business and operations.
What needs to be done for the tourism industry?
The world is in a situation of complete standstill. It will remain so until the coronavirus vaccine is discovered. The tourism industry globally will be facing a drop of thirty per cent of the number of tourist arrivals. It can lead to a decline of around seventy per cent in the tourism economy. The tourism industry has millions of employees, and due to the enormous loss, all the employees are being fired. Majority of them are being offered a reduced salary as well. Jobs and employees being laid-off can lead to a considerable loss to the world economy.
No country is an exception in this situation, and all are suffering from the same issues and problems.
- Recovery funds must be set aside for the tourism industry to compensate for the massive loss which they have incurred. However, the funds will not suffice until operations revive back to normal conditions.
- Try to help them on an individual level. Donate if possible.
- The business owners can put up a donation box for their business, for example a restaurant can do so and use that donation money to provide it to the workers in his or her business.