Loading

Global travel/tourism sectors lost massively in 2020; how to revive

Premium Analysis

The global travel and tourism sector lost as much in revenues in 2020 as 'Second World' controlled-economy countries used to lose over the life of their five-year plans.

The World Travel & Tourism Council (WTTC) is bullish that international travel could restart in earnest in Jun-2021 if a series of its recommendations are adhered to, and that 'normality' could be restored as early as 2022 - well in advance of other estimates.

But the underlying problem, now over a year into the COVID-19 pandemic, is that the 'ecosystem' has been trodden underfoot, and not by air transport passengers.

There is a basic lack of everything - functioning aircraft, in some cases pilots to fly them and cabin staff to work them, hotels to stay in, restaurants to eat in, conference facilities to meet in, travel agents and tour operators to make bookings through, beaches to stroll on without having to wear a mask…the list goes on.

While the WTTC does at least have a 'plan' to put Humpty Dumpty back together again - which is more than can be said for many governments and for some other travel-related organisations - the real problem the industry will face if and when the virus wanes may be the one in peoples' heads.

Become a CAPA Member to access Analysis Reports

This CAPA Premium Analysis Report is 2,399 words.
Become a CAPA Member

Our Analysis Reports are only available to CAPA Members. CAPA Membership provides exclusive access to in-depth insights on the latest developments in the aviation and travel industry, developed by our team of dedicated analysts located in Europe, North America, Asia and Australia.

Each report offers a fresh perspective on the latest industry trends and is available online or via the CAPA mobile app, with customisable alerts to help you stay informed and identify new business opportunities.

CAPA Membership also provides access to our full suite of tools, including a tailored selection of more than 1,000 News Briefs every week and comprehensive data and analysis on thousands of companies around the world.