The COVID-19 outbreak questions the potential future of the travel industry.
It causes never known before uncertainty in economies across the globe. And the travel industry is not spared from it.
To keep people safe, the government advises them to stay in their homes.
Hence, travelling is at a pause for the time being, because of which innumerable cancellations are taking place.
This altogether is impacting the financial condition of the travel industry immensely.
And several people are losing their jobs and some businesses are even filing for bankruptcy.
In this blog, I have discussed the potential future of the travel industry. Take a look at it.
Less corporate travel is the future of the travel industry
With the emergence of virtual meeting and conferences in the crises, acts as a turning point in the travel industry.
Professionals are adopting virtual ways of connecting which leads to a huge decline in corporate travels.
These reasons contribute to making corporate travel less and less. The huge rise of virtual conferences and webinars during the lockdown period.
Companies implement new corporate travel policies to curb the expenses because due to pandemic there is less generation of revenue.
Also, after lockdown people are afraid to attend conferences and meetings in distant places to stay away from crowded places.
This irreparable decrease in corporate travel causes a negative impact on the balance sheet of even the most profitable travel companies.
The decrease in corporate travels will be stronger for the coming years that leads to virtual meetings become new normal.
A new way of check-in, the future of the travel industry
From the early days of the outbreak, the travel companies focus to build strategies to inculcate hygiene protocols across all destinations to gain the trust of their customers.
They regulate measures like temperature screening of travellers at the check-in and check-out points.
They increase the frequency of disinfecting airports, railway stations and other travel spots to ensure the safety of their passengers.
As no standards of testing coronavirus are implemented by the government, every industry is doing it in their way.
Hence, this creates mistrust and confusion among travellers all over the world.
To avoid this confusion, the government, international tourism organizations and other industry associates are making efforts.
To establish a universally accepted health certificate label in 2021 for air transport and hotel accommodation to ensure consistent standards worldwide.
Massive down in travel
The crises is a turning point for the travel industry. The people of only higher class are more likely to travel to international locations.
Most people don’t want to travel and prefer to stay in the home to remain safe from the virus.
Also with a drop in income of middle-class families, international leisure travel will be less.
With virtual meetings being the new normal causes decline in business travel.
As a result, in the forthcoming years’ travel industry will face business fails due to less demand globally.
This will impact the financial condition of airlines and many airlines will extinguish in future globally.
Airports will not remain immune to these financial crises and they will also face permanent or temporary closure.
Change in occupancy rates in future of the travel industry
Travel industries have to look in a different way to plan their cost structure and pricing strategies.
As they can’t maximize occupancy rates soon.
Low-cost carriers or low-cost airlines have to rethink their business model, as they can’t put too many passengers in a flight.
With people discarding long-haul trips and going to crowded places will negatively impact airlines.
Also, there are fewer chances of implementing new airlines project soon.
But there can be good news for high-speed trains as a majority of people may shift towards them.
Whether you are travelling by bus, train, flights, taxi, ship you are travelling in limited space with a large number of people.
Thus, it leads to the chances of transmitting viruses from one person to another.
To prevent this staffs must frequently clean and sanitize all the surfaces.
Using disposable wipes for cleaning is advisable to avoid the possibility of cross-contamination.
Washing hands, again and again, must be encouraged to among all staffs and passengers for their safety.
You can train your staff’s about the way of proper cleaning.
Inspection must be done to ensure proper sanitization of places and nothing is left.
Coordination of staffs is necessary for a win-win situation.
It’s Possible that people instead of going over that very place they can just want to experience the beauty of the place at their home.
As certainly we can see that AR/VR is the highest growing platform in the industry.
It’s quite famous as these can provide the ability to experience anything via just wearing.
As you wear the VR headset then the AR comes to provide the experience of what so ever event you wanna see.
It could be a beautiful hilltop view or watching the holy place even without rushing at there.
But what about the physical experience.
Well in that department there are some suits which are still in the testing via engineers.
It can be possible this suits will give you the cold breeziness of air on the hilltop or rushing of the temple in easy language.
There is the other avatar of you of digital form which experiences that situation instead of you been ever going there.
At this time of pandemic instead of panicking, the travel industry must work with logic and patience.
Have faith and confidence in the ability of the travel industry to survive this pandemic.
The current situation is only for a temporary period and everything will be back to normal sooner or later.
At the moment people feel safe to travel they will start travelling again with the same rate of occupancy.
This crisis will pass. But till then we have to join our hands together and work it out.
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