The Hospitality sector is one of the largest industries in the world, with US$5.7 trillion in revenue and is responsible for an estimated 319 million jobs. Speaking about the impact of the COVID-19 pandemic on the global tourism and hospitality industry, Jonathan Mills, MD, APAC & DAE Global, RCI, said, “Short term impact is that the travel industry has taken a hit due to travel restrictions and cancelled trips for both business and leisure. With countries suspending visas, putting restrictions on travellers from several other affected countries, and fresh cases emerging in Europe, US and India, leisure and business travel, both incoming and outgoing, have taken a hit. Travel contributes 10 per cent to the global GDP and Jobs. We should have a forward-thinking approach in terms of the long-term impact even though the first two quarters face a challenge. We do see signs of pent-up demand in 2021. Our members at large have postponed their travel plans to Q3 2020 for safety reasons. We, as an industry should try and be positive and know that there will soon be signs of pent-up demand in Q4 2020 and Q1 2021. Millions of people are now waiting to travel again. In the meantime the travel industry should stay calm, choose safety, help their members and customers by sharing regular updates on the COVID-19 travel restrictions by the govt. This is in the best interest of our customers and the industry at large.”
Day 21 | We do see signs of pent-up demand in 2021: Jonathan Mills
