The travel and tourism industry is badly hit by the COVID-19 crisis. It's impossible to predict when it will recover fully from the pandemic and travel will return to pre-COVID levels. Fortunately, the curve has started to flatten, even decline in some parts of the world. Consequently, borders are gradually opening up and travel is restarting. So there is some good news - the travel industry is on the path of recovery. Ofcourse, we don't know when this crisis will end, but it will eventually.
Travel industry always recovers from disasters and emerges on the other side more resilient than ever before. Based on past experience, travel industry's recovery will happen but not equally for all brands. Cruises for example, are likely to remain badly hit for a while. So will the group tours segment. Business travel is also likely to reduce as corporates get used to virtual meetings. Still, government support is available to many businesses but it is not enough to keep all the brands survive this pandemic.
In this pandemic situation, travel brands must remain calm, focus on local travel, and minimize spendings. One of the best ways for travel firms to bounce back into action is to invest in technology solutions that will help them survive in the present and thrive in the future. A key player in the travel technology space, TravelCarma has announced an SMB-friendly online travel solution - 'Resilience Package' that will help travel agencies boost their recovery and take their business online at a minimal cost. It provides agencies with all the digital tools they need to get ready for the 'new normal' where most interactions are likely to be online and keeping costs to a minimum will be crucial.