WHAT WILL LIFE LOOK LIKE AFTER COVID-19? BY DEENA ROBINSON
I
t’s fair to say that the COVID-19 pandemic has thrown the world into a tailspin. Economies around the world have ground to a halt and hundreds of millions of people are being confined to their homes. It may be difficult to see past the current situation amid all the uncertainty, but there's one question on everyone’s minds—what will the future look like post-virus?
and networks at Travel Leaders Group, says, “Travel and tourism is a highly resilient industry that has come back again and again from diseases and natural disasters.”
TOURISM
CONSUMPTION PATTERNS AND CONSUMER BEHAVIOR
Flights have been cancelled and countries have imposed restrictions on international arrivals, which has had a staggering impact on the $880 billion global airline industry. The World Travel and Tourism Council (WTTC) says that up to 50 million jobs in the global travel and tourism sector are at risk, with travel likely to fall by 25% this year.
It is also likely that once destinations are given the “all clear” signal, they will begin an aggressive recovery program that will most likely involve discounts until the sector is bolstered to pre-pandemic levels.
Consumer behavior has radically altered as the world has retreated into “survival mode,” fearful of spending money lest they lose their jobs.
The WTTC’s managing director, Virginia Messina, predicts that it will take up to 10 months for the tourism sector to return to its normal levels once the outbreak is under control. She calls on governments to remove or simplify visas wherever possible and cut travel taxes once the epidemic is under control.
This may not be the worst thing. Marketing experts agree that consumer spending will most likely go back to normal eventually, but consumers will likely be more discriminating in how they spend their money. They may choose to dine in restaurants instead of ordering takeout, spend money on experiences over things, and support local businesses over giant corporations. Community gardens may also become more popular as a way to ensure a sustainable source of food.
Forbes predicts that international travel will fall out of favor as travelers will want to stay closer to home, and that they'll make their trips shorter—a two-week summer vacation will turn into a long weekend, it says.
As consumers are reluctant to open their wallets, this may open the door to a shift in the mass consumption culture that has resulted in a climate of immediate gratification and swollen landfills.
Others in the industry expect a quick rebound of the sector. John Lovell, president of leisure travel and supplier relations
However, as shopping moves online, it is vital that retailers prepare for this new world, bolstering recycling efforts and
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greenliving | May 2020
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