COVID-19 and Travel & Tourism Industry – What Opportunities Await Post-Pandemic?

The world is completely exhausted with the COVID-19 pandemic. The corporate sector has lost enough and now it’s time to redeem. Every sector is fighting its way through the rough patch but one of the severely damaged industries is travel and tourism. A WTTC report reveals that the travel and tourism sector generates 10.4% of the global GDP. Being the key contributor to the world’s GDP, we all can imagine how the entire world has suffered. Apart from the global impact, many economies are dependent on travel and tourism. Ever since the pandemic struck the world, states have been falling apart. Let’s take a look at what future the travel sector holds in the post-pandemic world. 

A Glimpse of the Current Situation 

Reviving cross-border travel and opening tourist spots is the primary focus of all the countries. For that, vaccine passports have been introduced that allows Covid-free individuals to visit public spaces across borders. However, bad actors are figuring out ways to manipulate these documents to visit their dream vacation place without getting jabbed. Nevertheless, systems like Digital COVID Pass are all set to fail such ill plans, but privacy still remains a concern for many of the nations. Many Americans do not trust the government with their data and are not in favour of getting a vaccine passport. Even if they do, showing it at every public place is not at all their motive. 

However, Digital COVID Pass and other alternatives by the government are being taken with primary focus on privacy and security. There is no chance that the data is misused.  

Apart from this, an IMF report revealed that numerous tourism-dependent countries have started working on new projects or temporary solutions for revival amid the new normal. For instance, Barbados has introduced a one-year residency permit called “Welcome Stamp” visa that allows remote employees to live and work from the country. 

Recommended: COVID Passports – Bringing Convenience to the Travel & Tourism Sector 

What is the Future of Travel in the Post-Pandemic World?

Although it takes time for the world to recover from a crisis, expert insights reveal that the post-pandemic world will be favourable for the travel and tourism sector. A McKinsey report reveals that it took almost five years for the travel sector to double revenue after the 2008 crisis. Amid the challenges, there is a brighter side of the story that the market leaders have yet to discover. 

Opportunities in the Post-Pandemic World

Given all the current circumstances, analysts have pinpointed many positive sides of the situation. Numerous opportunities for organisations in the travel and tourism sector are waiting. 

Suggested: Covid Test Verification To Facilitate Tourism Worldwide

Contactless Passenger Experience

Airlines and hotels try their level best to ensure their customers have a great time. However, moving in the post-pandemic era means everyone has to be touchless. Would this affect customer experience? Yes, it will. The COVID-19 aftermath for the travel and tourism industry also includes contactless passenger experience. None of the passengers or tourists would agree on touching objects, especially for verification purposes. 

Through face verification and other identity verification measures, the travel and tourism sector and its customers can follow the SOPs. On the other hand, complying with the regulations would not be a problem. Enhanced customer experience, SOPs and compliance all under one umbrella.  

Increased Organisational Resilience 

Companies will work on creating more resilient plans and solutions so that they do not have to suffer from any such circumstances in the future. Flexibility in corporate planning is important because there are many forces that influence a firm. Take the pandemic as an example. The unforeseen virus attack locked everybody in their homes for months. Every sector suffered (travel being at the top of the list). Now, all organisations are emphasizing on adopting digital solutions and plans that can be moulded under certain circumstances. 

More Data Sharing and Collaboration

Border agencies, airports, etc. can work on bringing more ways in action that can increase collaboration among them. Take a look at some cases of collaboration:

Source: Deloitte