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COVID-19 Effect on Tourism

& Hospitality Industry


GROUP INFORMATION:

Name ID
Nilima Hossain 41840071
S.M. Kaicher 41840008
Shahrin Farjana 41840036
Md. Towfiqul Haque Sajjad 41840027
Mst. Sadia Islam 41839053
Md. Bayzid Kamal 41840038
Origin

 Wuhan, China
 First Appearance
-Dec
2019
 World became
aware
-Mid
January
Impact on Global Economy
 According to Harvard Business
Review:
 1.2 million lost job in USA alone, last week.
 Nearly 3 million by this week.

 According to a BBC Report


 Singapore is heading towards recession the
first time in two decades.
Impact on Global Tourism &
Hospitality Industry
 Travel Restrictions around the globe.

 According to Commissioner for Internal Markets Thierry Breton


 European tourism industry-Lose € 1 billion per month.

 Corona hit Italy the hardest in Europe. According to Conftourismo &


Confcommercio tourist lobby-
 Italy will lose €7.4 billion in between March- May due to CORONA outbreak.
 Pope Francis’ Easters Service (April) will be held without attendants (normally draws
around 10,000 of tourists) losing €4 billion.
Impact on Global Tourism &
Hospitality Industry
 According to Portugal Tourism Industry-
 60% of hotels in South Algarve has faced cancellation in
the start of march.

 Thousands of cancellation of
International Flights.
 Chinese Airlines passengers were dropped by 84.5%
last month.
 British Airways, EasyJet, Norwegian Air have cut their
flights out.
 Princess Cruise suspended all operations for 60 days
after 21 passengers were tested corona positive.
Impact on Tourism &
Hospitality Industry
(Bangladesh)
 Travel Destinations are on lockdown.
 Number of tourists arrival lessened by 70% in the last couple of months.
 Bangladesh Travel & Tourism Fair (April 3-5) has been postponed.
 Domestic tourists are on lockdown.
 Domestic and International flights are canceled, causing loss to aviation
industry.

According to TBS news-


Pan Pacific Sonargaon Dhaka has suffered nearly 38 lakh in February.
Impact on Tourism & Hospitality
Industry (Bangladesh)
 According to CEO of Journey Plus-
 More than 50% of fall of hotel industry due to cancelation (February-
March)
 An estimated loss of 100 crore tk. in the next couple of months.

 According to M.D. of CEMS global-


 A loss of $1.1-1.2 billion cancelation of
-CEMS Global Dhaka International Fabric Fair Winter Edition.
-The Food and Agro Tech Fair.
-Medical and Laboratory Equipment Fair.
How hard will it hit the world?
 According to Harvard Business Review:
 Recession is to follow
 Liquidity Shock
 Economy Freeze
 Loss of more jobs in coming months.

 According to World Traveling And Tourism Council-


 Greece tourism sector is expected to suffer that accounts for 1/5th of
Greece’s economy and 1/4th of jobs.
 Around 50 million jobs could be lost because of the pandemic.
 The travel sector could shrink up 25% in 2020.
Some Measures
 EU’s Executive-
 37 billion euro for health system, SME & Affected sectors (in
Europe)
 27 Billion Euro for Structural Funds (reinforced by additional
tourism instrument)
 Short & Mid-term loans by govt. for tourism and travel sectors.
 Long term- relaxation on Visa, waive on tourism taxes.

 Bangladesh-
 Bangladeshi govt. has declared easy loan on export related
business.
 Has not yet declared any measures for tourism & hospitality
industry.
THANK YOU FOR
LISTENING, SIR