| Bachelor of Enterprise Management System |
Case Study
The international tourism industry is taking a major hit as COVID-19 circulates into more countries and fear about it spreads across the world. Governments around the world have warned and continue warning would-be travelers to stay away from outbreak hotspots, and in some cases, enacting travel bans to forbid travelers from going to high-risk areas. Photos of empty tourist destinations around the world, emptied-out festivals, vacant churches and temples, and quarantined luxury hotels – show the impact of the coronavirus outbreak on the tourism industry has been devastating.
A new report from consulting firm Tourism Economics has put some estimated numbers to this ravaging situation. The report suggests that for example, it expects the US economy to lose over 3.5 million visitors from Asian countries, translating to a 38% drop for 2020. The report also estimates that around the same number of tourists will not be visiting countries like Australia and New Zealand. The report tallied expected losses from the Asian visitors spending at $US35.7 billion – more than half of which are expected to occur this year