BW Hotelier – Online

Speaking on the devastating impact that COVID-19 has had on the travel and tourism industry, Rajiv Nangia, Chief Operating Officer, TRAC Representations India told BW HOTELIER that, “This is by far the biggest crises that Travel & Tourism has been subjected to and will bound to have a lasting impact on the sector as well as people working in the sector not only in India but across the globe.”

Business Today – Online

Millions of jobs in the global tourism industry could be lost due to the COVID19 pandemic, which has impacted travel like no other event in history and caused 96 per cent of all worldwide destinations to introduce restrictions in response to the outbreak.

Business Standard – Print – Mumbai, Bangalore

The tourism industry is projected to book a revenue loss of ~1.25 trillion in calendar year 2020 as a fallout of the shutdown of hotels and suspension of in flight operations due to the Covid 19 pandemic. A study by CARE Ratings notes that the figure corresponds to a 40 per cent decline in revenue over calendar 2019.

Free Press Journal – Online

There are absolutely no prizes for guessing that the biggest loser due to the novel coronavirus pandemic is the tourism sector. Travelling, which is a luxury, a nonessential service, seems like would be out of business for over a year, suggests a survey.

CNBC TV18 – Online

The demand for white goods and other highend consumer durables will remain impaired as consumers are expected to postpone their purchases because of lower disposable income, and uncertainty over growth prospects. About 5060 percent of the products and 7080 percent of the components are imported, and a shortage of components of electronic goods from China is likely to keep prices higher and hence will impact demand.

Hindustan Times – Online

In Asia, borrowers have been tapping funds from domestic lenders. Bank of Taiwan provided NT$20 billion ($666 million) of direct loans each to China Airlines Ltd. and Eva Airways Corp., while Singapore Airlines Ltd. arranged a S$4 billion ($2.8 billion) loan with DBS Bank Ltd.

The Financial Express – Online

Coronavirusled lockdown has dealt a heavy blow to Indias travel and tourism sector but the industry may find some respite in the MICE sector in the coming months. XSeveral industry reports have earlier said that the travel and tourism industry is one of the worst hit due to lockdown.

Hindustan Times – Online

It needs to be quick and secure. Something that is a relatively minor burden, said DirkMaarten Molenaar, Amsterdam based head of BCGs travel and tourism practice in Europe, the Middle East and North Africa.

Reuters – Online

Tourism ministers of the Group of 20 wealthy economies agreed on Friday to explore capacity programmes in the tourism industry to help the global economy recover from the new coronavirus pandemic.

English Jagran, Business Today, Free Press Journal, Mumbai Mirror, Hindustan Times, The Financial Express – Online

According to him, India, Indonesia, Japan, Malaysia, the Philippines, Republic of Korea, Sri Lanka and Thailand are priority countries that need to take action. Further, the grouping called for a combination of direct financial support, loans, loan guarantees and support for the corporate bond market, and tax relief for the airlines industry.

Free Press Journal. Money Control – Online

The sharp downward revision is driven by a massive decline in Asian economies, led by China and India which are slated to post sub1 per cent growth this year. Several major economies have extended lockdowns of eightnine weeks. This contrasts to the previous assumption of around five weeks.

The Times of India, BW Hotelier, Telanga Today  – Online

Adding to these woes in the months to come will be the fear to travel, whether on business or leisure, as the COVID19 pandemic wreaks havoc across the world. The tourism and the hospitality business is bound to feel the heat.

Forbes – Online

Living in Hong Kong, is there any light at the end of the tunnel Hong Kong, along with several other Asian countries, seemed to have remembered the lessons of the 2003 SARS outbreak and acted swiftly to control the spread. Early action meant that we never went into full lockdown, although as we move into April further tightening possibly lies ahead.

Skift – Online

Some three months since the coronavirus outbreak struck the region, Asia’s travel players are adjusting to a new normal and planning possible business strategies to ride out the current health crisis for the eventual recovery.

Bw Hotelier Business World – Online

The World Travel and Tourism Council (WTTC) launches a new marketing campaign, #TogetherInTravel, aimed at galvanising the global travel and tourism community and showing how the sector is a vital part of our zest for life.

Business Standard  – Online

Battered and bruised by the COVID-19 pandemic, the country’s travel and hospitality industry is staring at a Rs 5-trillion revenue loss over the next year while 35-40 million jobs, both direct and indirect, are in jeopardy.

The Economic Times – Online

Already, a Japanese short term rental company has been marketing its flats as solutions for stressed out couples heading for ‘coronavirus divorces’ in that country. Data from other nations also indicate that those unaccustomed to living cheek by jowl for prolonged periods will probably seek selfisolation options.

The Economic Times – Online

Wearable social distancing buzzers. Masked blackjack dealers. Drive thru electronics purchases. From cubicles to factory floors, cafes to clothing boutiques, businesses around the world are dreaming up creative ways to reopen, attempting to start revenue flowing again while minimizing the risk to customers and employees.

Republic World – Online

The innovation is meant to sustain global interest in the North Atlantic islands, which have recently come to rely more on revenue from tourism. And it might help locked down people around the world broaden their horizons beyond their apartment walls.

BW Hotelier Business World – Online

In the wake of the mass confusion and panic, most companies are refraining from making new strategic decisions and instead are focused on the immediate future committing resources to additional infrastructure for screening, quarantining and treatment of properties and staff. However, the travel and tourism industry has faced similar crises before, adapted to deal with them, and survived.

The Economic Times, Free Press Journal – Online

Millions of jobs in the global tourism industry could be lost due to the COVID 19 pandemic, which has impacted travel like no other event in history and caused 96 per cent of all worldwide destinations to introduce restrictions in response to the outbreak, the World Tourism Organisation (UNWTO) has said.

Travel Trends Today, The Financial Express – Online

COVID19 has impacted travel and tourism like no other event before in history. Governments have put public health first and introduced full or partial restrictions on travel. With tourism suspended, the benefits the sector brings are under threat: millions of jobs could be lost, and progress made in the fields of equality and sustainable economic growth could be rolled back.

UNI India – Online

Two thirds of the impact will be felt by China, the epicentre of the Covid outbreak, the survey said. The outbreak will have a significant impact on developing Asian economies through numerous channels, including sharp declines in domestic demand, lower tourism and business travel, trade and production linkages, supply disruptions and health effects, the study said.

News Gram – Online

Travel is fun. It is a fantastic adventure. More than that, however, travel can enrich your life in numerous ways. Heading out into the wild, taking to the open road or embarking on a journey to another country is so much more than just a good time.

Free Press Journal – Online

Downward revisions are substantial, ranging from 3.5 percentage points in the case of Korea which appears to have managed to slow the spread of the coronavirus while minimizing prolonged production shutdowns to over 9 percentage points in the case of Australia, Thailand and New Zealand all hit by the global tourism slowdown, and in the case of Australia by lower commodity prices, the IMF said.

The Economic Times – Online

Hong Kong will see the government pay 50% monthly salary for every local employee (salary up to HKD 9,000) for six months, with the first payout from June 2020.The government also announced that rental concessions for April to September 2020 would be increased from 50% to 75%.

Transfin – Online

Ecotourism as Enlightenment Now, it remains to be seen how many of these zealous queries transpire to actual ticket sales in the future. But for safari companies trying to remain afloat in these trying times is not only good business but also an exercise in ecological responsibility.

Travel Trends Today – Online

China led the region in 2019 in terms of GDP and employment size, with strong performances in other major Asian markets such as Vietnam, Malaysia and the Philippines. Travel & Tourism supports more jobs in China than in any other country in the region nearly 80 million jobs, or, 10.3 per cent of total employment.

Zee Biz – Online

In this segment of Corporate And Corona, we will discuss what are the challenges of the travel and tourism sector amid coronavirus crisis.

The New Indian Express – Online

AAPA Director General Subhas Menon said the current COVID19 crisis is taking an enormous toll on Asian economies and peoples livelihoods across the region. Some 50 million people work in travel and tourism alone within the Asia Pacific region.

Jhakaasmovies – Online

The Dun & Bradstreet assumes that the Covid19 pandemic subsides in India from its peak level and all businesses resume operations from June 2020 onwards, although in a staggered manner, and businesses across the globe (excluding China) also resume operations from the same time, in a staggered manner.

Live Mint – Online

Indias sustainable businesses show why community first practices must be the future of all tourism Read Full Story Deepa Krishnan and Fahim Vohra, founders of the travel companies Mumbai Magic and Be The Local, respectively, have deep ties in the communities in Mumbai they work with.

Money Life – Online

Active pharmaceutical ingredients (APIs), which form the major portion of raw materials for drug manufacture, are majorly imported from China (around 70%) due to the low cost of imports. IndRa says, Though the government has classified pharma operations under essential services, the scale of operations has declined due to the lack of API imports from the Chinese markets along with the fall in consumption.

The New Indian Express, SiaSat, News 18 – Online

Globally, the livelihoods of some 65.5 million people are dependent on the aviation industry, including sectors such as travel and tourism.

Business World – Online

Growth in India subdued after the country suffered a sharp slowdown over the last 6 quarters and the global health emergency in the last quarter further puts the economy in the dark. Tourism, Hospitality and Aviation are among the worst affected sectors that are facing the maximum brunt of the present crisis.

The Financial Express – Online

The coronavirus epidemic is not first blow to travel and tourism industry as it has emerged from many crises in the past. However, this time, the losses sustained by the travel industry will be more than it did in the previous cases.

Devdis Course – Online

Singapore Airlines Ltd said it had secured up to USD 13 billion of funding, supported by statefund Temasek Holdings and city state biggest bank DBS Group Holdings, to survive the coronavirus crisis.

Business Wire – Online

Commenting on the company’s initiatives to curb the pandemic, Rohit Kapoor, CEO, OYO Hotels & Homes, India SA said, “This is a difficult time for all of us around the world but it’s also a time to step forward and pull together all our limited resources.

Daily Excelsior – Online

UNESCO and Chhatrapati Shivaji Maharaj Vastu Sanghralaya (CSMVS), Mumbai, are also using culture themed memes to encourage people to get the message of staying home, with a sense of humour.

Hindustan Times – Online

The UN report said that in the best case scenario, moderate declines in private consumption, investment and exports will be offset by increases in government spending in the seven major industrialized nations and China, leading to global growth of 1.2% in 2020.

CN Traveler – Online

Kathy and I relied on poste restante for all communication wed send postcards to friends and family to let them know where wed be next, and they send mail to the post offices in those cities. Kathy was too weak to cycle from Kashgar so we took a train to Hong Kong and went straight to the post office. I learned there, from a huge pile of sympathy cards, that my dad had suffered a heart attack. Hed died weeks before I got the news.

Business Standard – Print – Mumbai

Care said the impact of Covid-19 could be seen across all verticals of the hotel and tourism sector leisure, adventure, heritage, cruise and corporate. Given the travel restrictions imposed by the Centre as well as governments across the globe, advance bookings for conferences and leisure travel to foreign destinations have already been cancelled.

The Times of India – Online

People are sharing pictures of their last trip as part of a new social media challenge People are sharing pictures of their last trip as part of a new social media challenge At a time when most people are self isolating in midst of the COVID19 crisis, a new travel challenge is going viral online. Social media users and travel enthusiasts are being encouraged to join the challenge and to publish photographs of their last trip.