In the coronavirus pandemic, few industries have fallen travel and tourism industry is also a part of it. Travel industry is the biggest industry not only in india or in a particular state or country but it is spread in whole world. The global travel and tourism industry was valued at USD 7,581 Billion in 2014 (10.0% of GDP) and was forecasted to grow by 3.8% in 2015 and growing rapidly. The revenue generated from visitor exports is also projected to upsurge from USD 1,384 Billion in 2014 to USD 2,141 Billion in 2025, exhibiting a CAGR of 4.0%. Travel industry is never in loss in past, but due to corona virus the travel industry is in loss totally.
The graph shows all...
The things happen to travel industry :
Before Covid19 :-
Before the situation of Covid19 travel and tourism is one of the top industry in the world. Globally, travel and tourism directly contributed approximately 2.9 trillion U.S. dollars to GDP in 2019. Travelling become an essential part of life now, everyone needs some peace from daily busy schedule and travelling is the bestest option for it. And now a days everyone prefers it. Tourism is the bestest rapidly growing industry and has the profit in billions dollars.
Effect of Covid19 :-
Due to covid19 situation government has restricted for travelling, due to this travelling idustry get collapsed and get totally in loss. After opening of lockdown it takes more than 1 year to settle up back to the previous condition which travelling have, before the covid19 situation.
By considering the current situation of covid19, we all know that it takes lot of time to get up the travelling agencies of all over the world. The newly started buisnesses are totally down and it is difficult to get funds to them.
After Covid19 :-
After the situation of covid19, when we get the vaccine on it, the real struggle starts for the travel and tourism industry. And all working agencies have to start from the zero level and fill the loss that they get in the covid19 situation.
It is needed to take lot of efforts and hard works to everyone to settle up in everyday life, not only in travel industry but also in all type of buisnesses. Even an ordinary person who do job, also have to fight for their job, increasing prices of all thing and many more.
All markets, companies, industries, share market, constructions, all types of buisness are in trouble now. We wish, we get the vaccine of corona virus and this situation gets in control soon and pepole can travel. Peoples get bored now because of the lockdown and wants to travel and go somewhere to enjoy.
Best wishes to all, for the upcoming time and don't be afraid we all get lots of apportunities and we also have lots of startups now, so don't waste the time, put it at the right place. Think what you can do after all things get settled up.