Impact of covid-19 on the tourism industry

What is covid-19?

The disease that has been spread by the deadly coronavirus is called as covid-19.It is assumed that the virus originated from the city of Wuhan in china. This virus has destroyed the livelihood of many people across the globe. Many people are facing unemployment therefore they should try to search for jobs through job vacancy result which is HR tech platform that strives to bridge the gap between job recruiters and job seekers and here 8,50,000 jobs are posted daily.

Which industries are affected by covid-19?

The above graph was taken to show the unemployment rate in the United States of America in the various industries.

• As you can see ,the tourism industry was the worst affected in the united states of america and the unemployment rate was 39% 
• Then the unemployment rate was highest in the wholesale and retail trade 
• Then in education sector because of closure of colleges and educational institutions
• Then the manufacturing and other services had a low unemployment rate.

Why did this happen?

Why do people get employment? What happens when people search for jobs in Delhi, jobs in Mumbai, they get jobs in  various companies or organizations.

  So all the countries in the world are doing business, that is, they are earning money by selling products or services produced in their country like mangoes from india are exported in various other countries. Some fruits,chocolates are imported to India through various countries.

   So basically what are we doing? Everybody in this world is doing some sort of business to earn his/her livelihood.People who are doing jobs are dependent on  these small and large businesses.Every country does business by collecting taxes from these businesses to earn the revenue required to run the country.

 Because of the pandemic caused by covid-19 lockdown was imposed in many countries and businesses had to shut down their operations so the economy was going down in many countries as every business is linked with each other. That’s why there are many reasons for the failure of startups including the impact of covid-19.Many students are searching for job vacancies in these tough times.

  They can search for job vacancies through job vacancy result which is a HR tech platform that strives to bridge the gap between job recruiters and job seekers using ML techniques and here 8,50,000 jobs are posted daily.

Contribution of GDP from  the tourism industry

So the above statistics were taken from the forbes website.As you can see from the above statistics the contribution of GDP from the tourism industry is shown from the above countries.

 What is GDP?

GDP is defined as gross domestic product which is the total value of goods and   

              services produced in a country.It is measured in some specific time frames like

 GDP over a fixed quarter or a year.

  Why is it important?

         It gives us information about the size of the economy and revenue earned through the 

         various industries and it also shows the overall performance of the particular industry

         In that country.Generally when the GDP of a country is growing the standard of living 

         Also improves in that particular country.

Analysis of the above graph 

As you can see 

• Spain has a contribution of 14.3% from the tourism industry in the overall GDP.
• Italy has a contribution of 13.0% from the tourism industry  in the overall GDP
• China has a contribution of 11.3% from the tourism industry  in the overall GDP
• Germany has a contribution of 9.1% from the tourism industry  in the overall GDP
• United Kingdom has a contribution of 9.0% from the tourism industry  in the overall GDP
• United states has a contribution of 8.6% from the tourism industry  in the overall GDP
• France has a contribution of 8.5% from the tourism industry  in the overall GDP
• Iran has a contribution of 6.8% from the tourism industry  in the overall GDP

These were the most vulnerable countries for the loss of GDP because of the Tourism industry.As the contribution of GDP from the tourism industry was quite significant in these countries.

Impact of COVID-19 on  the tourism industry

Spain

•   There was a loss of 1% to 3% in the GDP from the tourism industry and the loss in revenue from international tourism was 30 to 50 billion US dollars.

Italy

• According to the Confturismo ,Italy already lost around 30 million tourists in the period between march and may.

China    

It is being assumed that China has lost 64 million international arrivals in 2020.International arrivals were predicted to increase from the 62.6 international arrivals in 2019.

United kingdom

UK tourism drips down by a fifth due to COVID-19 from 122 million in 2019 to 95 million in 2020.It is being predicted that domestic tourism trips are set to drop 22% this year from 122.2 million in 2019 to 95 million in 2020.

United states

It has been said that there is a 60 % decline in international tourism in 2020.This could rise to 80% if recovery is delayed until december.

France

It has been said that the country will not welcome 92.9 million foreign visitors in 2020like it did last year.

All these stats are taken from statistica.com

Especially students and those who are freshers are finding it tough to find a job. They can find jobs for freshers by visiting this website.

Author bio-Shantanu Godbole is working as digital marketing intern at job vacancy result which is a Hr tech platform that strives to bridge the gap between job recruiters and job seekers using ML techniques and here 8,50,000 jobs are posted daily.