Skip to main content

Why travel will never be the same again

The world has never seen anything like the COVID19. The movement and free travel has almost evaporated overnight.The number of flights around the world has gone down by 94 percent. The recovery is far from happening.The  It could exacerbate  existing inequalities, create hardships and disrupt workings of the globalised world.

The effects of COVID19 is much beyond cancelled holiday plans. Holiday makers spend approximately 1.6 trillion Dollars on travel every year. In April 2020 Planes carries just 31million passengers around the world, which was close to the levels of late 1970's. Flights in Europe are still below 75 percent which is much below the levels last year.

The travel recovery looks farther off. After the  financial crises of 2008, business travel has still not come back to the pre crisis levels. Leisure travel has eventually come back to pre crises levels. Flight levels around the world remain much below normal. All this could have a significant impact on Airline profits. 

Most airlines have announced job cuts. Air Canada has lost more than 1 Bn dollar in the first quarter. IATA announced that not more than 30 of the 700 airlines will cease to exist without Government aid.
Prices are much likely to go up on routes where there is little or no competition. Lower income travellers may find themselves prices outside the skies which will have a further impact on various socio economic factors.


Comments

Post a Comment

Popular posts from this blog

Friendships and Women Empowerment

  Women friendships play a vital role in fostering empowerment and personal growth. These relationships offer support, understanding, and a safe space for women to share their experiences, challenges, and triumphs. Bonds between women often transcend societal norms and stereotypes, enabling them to uplift each other in a unique way. Friendships among women contribute to empowerment by creating networks that facilitate mentorship, skill-sharing, and the exchange of ideas. These connections can lead to opportunities for education, career advancement, and personal development. Women often face similar struggles in various aspects of life, and by coming together, they can tackle these challenges collectively, fostering a sense of solidarity and strength. Moreover, women friendships challenge traditional notions of competition and rivalry, fostering collaboration instead. When women support and empower each other, they break down barriers and pave the way for progress. By celebrating ea...
Post a Comment
Read more

World Economic Forum Davos 2024

  Honoured to be a part of the Mega Event World Economic Forum,Davos 2024 which brings together the aspirations of the entire human race.In order to bring back home to our Country Bharat  🇮🇳 the best Resources in terms of Technology, trade, finances and human resources, the noteworthy achievements are the innumerable MOUs signed between leaders to create jobs, better health, sanitation,education,financial and trade relations and opportunities along with bringing about sustainable development to various regions. Davos  🇨🇭  hosts the World Economic Forum due to its historical significance  🏔️ , political neutrality  🕊️ , and modern infrastructure  🏢 . The scenic Swiss Alps setting  🏞️  and strong security measures  🔒 enhance its appeal as a location for this prestigious global event  🌐 . Historically, Davos has served as a global platform for leaders to address pressing issues  🌐  and foster private-public partner...
Post a Comment
Read more

Globalisation - A Paradigm Shift

 The World Economic Forum’s annual meeting held at Davos has been the largest and most talked about more so as it is going to put an end to the thought process of a few countries who were of the view of the  end of globalisation. Leaders around the world recognise that the future workspace is going to be a hybrid - virtual and face to face.Lack of cooperation is immense in society. We need cooperation even more today as after the Russia Ukraine war and the Covid restrictions still not completely lifted in some parts of the world, the world needs a lot of healing, which is more so prevalent due to the self seeking policy making in society. The World Economic Forum in Davos seems to take this challenge heads on and put an end to this vicious cycle.Even today 1 percent hold 45 percent of the wealth. The system works for a few billionaires . This economic down turn is likely to trickle down in economies. The complexity of solutions interdependence and connectivity of all...
1 comment
Read more