Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
Tourism is a vital sector of the economy for all the countries of the world. We all know that due to the pandemic the world is on a lockdown as well as traveling is on hold for an unknown period of time.

Summer season is already here and it’s usually associated with vacations, voyages and trips. This time, summer season is different, all the plans are postponed and the industry is having a tough period. The tourism industry is like a chain, if it’s somehow affected, the whole process will have to face consequences. The sector buys goods and services from other businesses to maintain and develop and then pay salaries to it’s employees.

Almost all the travel agencies are on the brink of becoming bankrupt since they have to return money back for the canceled flights and reservations. A good amount of agencies refuse to return resources, for business safety reasons, so clients are preparing for lawsuits.

Unemployment is rising as well as the lack of income. Rural areas are facing difficulties too. Their main income was coming from touristic destinations and farming but now they have to survive and take care of their farms without any resources.

Tourists always affected the economy in a good way since they contributed to sales and incomes. Let’s say a city attracts 100 tourists, each spending $100 per day, that’s $10,000 per day in the area. After this example is clear how much damage the virus brought upon the economy for the last few months.

sign in or sign up for leave comments
Got It
    Similar articles
    Today all the online platforms are the perfect sources for promoting businesses and targeting potential consumers. This is a cost-effective way of advertising which can open up several opportunities and new dimensions to your business.
    For the last few months all of us are constantly seeing news about Covid-19 and its impact over the economy and our social life.
    Oil prices may show a slow recovery this year amid the gradual lifting of restrictions due to the pandemic, but a second wave of COVID-19 could slow the pace of recovery.
    By using this site, you agree to Finhub’s Cookie Policy