Rebuilding Tourism Competitiveness : Tourism Response, Recovery and Resilience to the COVID-19 Crisis
The travel and tourism industry was one of the first sectors to be affected by COVID-19. Since March, the entire value chain that defines the industry — spanning airlines, bus and train companies, cruise lines, hotels, restaurants, attractions, tra...
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| Format: | Policy Note |
| Language: | English |
| Published: |
World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/739101597266369210/Rebuilding-Tourism-Competitiveness-Tourism-response-recovery-and-resilience-to-the-COVID-19-crisis http://hdl.handle.net/10986/34348 |
| Summary: | The travel and tourism industry was one
of the first sectors to be affected by COVID-19. Since
March, the entire value chain that defines the industry —
spanning airlines, bus and train companies, cruise lines,
hotels, restaurants, attractions, travel agencies, tour
operators,online travel entities, and others — has entered a
state of suspended animation. While bankruptcies of major
airlines and large tour operators have been widely reported,
the effectsof the crisis are perhaps being most acutely felt
by the Small and Medium-sized Enterprises(SMEs) that make up
around 80 percent of licensed tourism and tourism-related
businesses, and are at the greatest risk of failure. Their
potential collapse threatens to adversely affect millions of
people across the world, including many vulnerable
communities, who depend on tourism for their livelihoods.
According to the World Travel and Tourism Council, as many
as 100 million jobs supported by travel and tourism are
currently at risk. |
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