American Airlines warned employees of possible furloughs in mid-2021. Almost 133,700 employees are working in the airline, according to a Forbes Estimate. But this is not the only concern, unprecedented COVID fraud has raised the loss exposure of the industry.
Travel and tourism is an ever booming industry that has grown by leaps and bounds, especially in the recent decades. Finextra reports that the tourism and travel industry makes up over 10% of the global GDP. In this current pandemic environment where the tourism and travel industry is already facing a financial disaster, travel scams are adding salt to the wound. In the wake of this, the companies in the travel industry will have to downsize to compensate for the losses.
The biometrics market will experience a rise owing to COVID-19 and its feasibility in the identity verification space. For instance, between 2020-2024, the facial recognition market will witness a growth of $3.35 billion. Shufti Pro’s biometric verification services enable businesses to book secure online reservations, perform on-the-go check-ins at airports, safe hotel onboarding, and passenger authentication at transport terminal checkpoints.
Read this whitepaper to discover more about how biometric verification can prove beneficial for the travel sector, amid the COVID-19 restrictions.