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
