The Effect of COVID-19 Pandemic on Tourism and Hospitality Industry – A Review

Abstract

Over the previous years, numerous nations have thought about tourism and hospitality as the essential benefactor to economic growth and are widely accepted as huge investments that carry on dispensing in its development. This COVID-19 dominant disease is the largest confront that any country has ever faced, with limited medical capacity to treat the virus. Travel becomes a requisite to break away from an ordinary daily practice and has become a fundamental piece of everybody’s life, but things are changed now. While considering MICE tourism, there will be a drop in the travel budget as companies are promoting work from home and conference calls/meetings to decrease the risk and expenses, and this will have an enormous effect on the tourism industry. The virus has affected virtually all the parts of the hospitality value chain, such as catering and laundry services due to the crash of canceled events, closed accommodations and restaurants, and shut down of tourist attractions. COVID-19 has badly bruised the hospitality industry and there is general conformity that the industry will not be the same as of now due to extensive lockdowns and travel restrictions that are lifted internationally. Millions of white-collar and blue-collar jobs in the global tourism and hospitality industry could be lost due to the COVID-19 pandemic. However, for a speedy revival and recovery of the economy, a sustainable and fresh commencement is necessary for most of the worsened economic sectors. Travel, tourism, hospitality and the MICE industry as an umbrella industry is confronting enormous difficulties at present. Therefore, the paper will highlight the effect of COVID-19 on Tourism and Hospitality Industry and suggestions for speedy recovery and sustainability of both the industry is critically evaluated in this paper.