Tourism employment peaked at nearly 6 million jobs in the first quarter of 2008. From then through the first quarter of 2009, more than 250,000 jobs were lost in the sector. Despite continuing mild inflation, “travel prices have fallen twice as fast in the current recession as they did after the 9/11 attacks.”

UK tourism has weathered the double dip recession but 18% fewer people are holidaying abroad than before the downturn, a new study shows. Total tourism revenue was up 12.6% to £40 billion between 2007-2011 against the general economy up 8%.

Recessions result in higher unemployment, lower wages and incomes, and lost opportunities more generally. Education, private capital investments, and economic opportunity are all likely to suffer in the current downturn, and the effects will be long-lived.

Tourism boosts the revenue of the economy, creates thousands of jobs, develops the infrastructures of a country, and plants a sense of cultural exchange between foreigners and citizens. They want more and more tourists to visit their country which means that safe and advanced facilities are necessary.

The Travel & Tourism sector is more resilient than ever – average recovery times have decreased from 26 months in 2001 to 10 months in 2018.

Tourism industry contributes to 9% of the global GDP and offers one from every 11 jobs. In addition, the number of tourists have doubled over the past 20 years and a propelling growth is expected in coming few years among all market segments. Tourism industry has an intense potential to grow and generate revenues.

The travel market’s recovery is largely dependent on the speed of the global vaccine rollout and it will return, primarily, as a leisure market. Travel companies need to reposition themselves for the post-pandemic market by activating a new strategy based on leisure travel.

Tourism is the activities of people traveling to and staying in places outside their usual environment for leisure, business or other purposes for not more than one consecutive year.