The Coronavirus pandemic put a whole world to a halt. The vast majority of industries have been affected, but the traveling sector took the biggest blow. Governments are scrambling around to provide support for falling business — some are doing better than others. Nonetheless, companies are changing and adapting to survive in the hopes of a better future. Not all, but a few have already reinvented themselves to maintain above sea level. While others still have the door locked indefinitely.
Out of all trades, the ones dealing with journeying people got the biggest shock. More so, businesses worldwide didn’t even expect such a cash flow pause. The tourism industry planned its future around a trouble-free outlook of open borders and clear blue skies. An $8 trillion sector got sucker-punched by a 120-nanometer virus. It suspended the travel industry, which produced 2.9 trillion US dollars in 2019, globally. Fortunately for us, the fight is still on, and our fighter is in its corner, strategizing the next round.
Social distancing has put sports in an incompatible category with today’s disease prevention measures. Moneywise, the global sports market has increased by 45% since 2011. It amounted to a whopping $471 billion in 2018. Only to stop and leave fans with an unquenchable desire and melancholy for the days in the arena. And not only group sports stopped, but individual sports as well.
For example, the cancellation of the Summer Tokyo Olympics affected the whole value chain. From athletes to staff, the people involved in the following economics suffered:
- Broadcasting and media rights
- Commercial advertising and sponsorships
- Matchday revenue in tickets and hospitality
Generally, the latter component was the most affected production chain. However, there is hope for the first two components if leagues choose to play in-house games without spectators. Such is the intention of the NBA’s TV deal worth $24 billion in the last decade. Even the English Premier League and Major League Baseball are planning similar adjustments, which have yet to come.
Until then, sports have included more gamified content to keep fans engaged. NBA players are going one vs. one from their bedrooms. FIFA e- tournaments and Madden NFL with Snoop Dogg are everyday things these days. Also, to keep fans active, the industry put a lot of focus on documentaries, classic matches, and discounted merchandise.
Nearly all of the museums in Europe are closed without a fixed re-opening date. Small exceptions are in Sweden, Albania, and Austria. The income loss is staggering, with around a 75% decrease in sales. For example, the larger museums in Europe, such as The Kunsthistorisches Museum Vienna, lose between €100.000 and €600.000 a week.
The good news is that the industry hasn’t laid off too many people. Mostly, freelancers, subcontractors, and volunteers are on hold. The survival of the market is the fruit of governmental emergency funds.
As an alternative, museums moved their attractions online. Roughly half the museums adopted a teleworking strategy for 80% of the personnel. More than 60% of museums increased their online presence. Subsequently, top essay writing services have seen an increase in orders, alongside web designers, IT technicians, and server hosting companies. Furthermore, the industry integrated podcasts, interviews, live content, and even game creation.
Optimism comes from the fact that people seem receptive to the changes. Online visits increased drastically for almost half of the institutions. Fortunately, it appears that society longs after culture and exploration. And won’t hold back its desire for knowledge after the pandemic ends. It comes as a general reassurance for those who work in museums that they’ll see the halls full once again.
Sailors got hit by an invisible storm than didn’t destroy their ships but force them to sit tight for weeks on end. The saddest incidents were the outbreaks on the sea that forced ships to remain docked. Since January, companies lost $750 million in revenue. Market shares dropped up to 70% in the last months, according to college paper studies. Companies postponed sailings until July or August. Additionally, some firms reported difficulties accessing emergency funds due to their registration outside the US and Europe.
Ross Klein, a Canadian academic studying the subject, had this to say, “Governments may have an increased interest in illness reporting and sanitation inspections.” Meaning that the cruise business will face more regulations and inspections. And not only hygiene standards are increasing but social distancing and screening for the future. Which means additional costs for safety, but with fewer occupancy levels — truly an upstream battle.
The foodservice business is diverse. Every restaurant is different, not just in terms of food, but how it operates. Some have gone bankrupt, while others survived with its staff intact. Emergency funds from country to country were also distinct. While some countries handled the crisis modestly, other nations poured it all just to keep the economy in standby.
Healthcare dispositions worldwide obligated restaurants to buy personal protective equipment (PPE) and disinfectants. Moreover, restaurants must adhere to custom papers, guidelines, and documentation for workplace adaptations:
- Menus must be either disposable or fit for cleaning after every use
- Hand sanitizers must exist at almost every corner
- Masks are a must for both employees and clients
However, the hardest blow was social distancing standards. Tables must be distant at least one meter from each other, meaning an inevitable reduction of sitting posts.
Disease prevention agencies highly recommend contactless payment and plexiglass walls. All in all, the staff must transform into a sanitation squad and clean everything that encounters people.
During the pandemic, the skies are almost clear of airplanes. The colossal industry is estimated to take a $314 billion plunge into the unknown in 2020. A reduction of 55% from 2019. Dissertation service experts from the World Travel and Tourism Council project a global job loss of 75 million people. Specialists aren’t entirely hopeless but say it will take several years to recover.
New hazard control regulations for airplanes will integrate social distancing between the passengers, screening, PPEs, and increased sanitation.
The hospitality sector took the hardest blow of them all. Many companies have furloughed employees indeterminately. Primarily due to the nature of the business, which produces revenue from accommodating guests. The United Nations World Tourism Organization is projecting a reduction in international tourism of 25% in 2020. A potential deficit of $30-50 billion. Even booking websites and travel agencies are falling behind.
Workplace regulations follow the same pattern as the other sectors. Even if hotels maintained their potential capacity intact, the repercussions are tumbling on the workers. Layoffs were constant due to the acute lack of clients.
SARS-CoV-2 pandemic put our lives to a stop for a couple of months. People and businesses around the world are paying the price. Predominantly, sports, cruises, restaurants, airlines, and hotels were the most impacted sectors. As our knowledge about the virus grows, so does our fighting capabilities. Society must respect healthcare regulations to win the battle. Social distancing, sanitization, and wearing a mask are the new norms for the time being. Keep strong, and we’ll triumph into a new Renaissance.
Scott Mathews is an independent blogger and writer at an assignment help UK firm, specialized in essay reviews, scientific papers, and college online assignment help. When he’s not working and giving assignment help, Scott enjoys playing mini-golf, video games, and going for long runs with his two dogs. He’s also a massive fan of soccer and baseball.