As growing numbers of countries around the world ease restrictions on travel, the World Tourism Organization (UNWTO) has launched a new Tourism Recovery Tracker to support global tourism. This represents the latest concrete action undertaken by the United Nations specialized agency as it leads the response of global tourism and guides recovery. The most comprehensive tourism dashboard to date, the Tracker is the result of a partnership between international organizations and the private sector. Available for free, it covers key tourism performance indicators by month, regions and subregions allowing for a real time comparison of the sector recovery across the world and industries. All key tourism data in one place The UNWTO Tourism Recovery Tracker compiles all the rele...
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The International Air Transport Association (IATA) called for the development and deployment of rapid, accurate, affordable, easy-to-operate, scalable and systematic COVID-19 testing for all passengers before departure as an alternative to quarantine measures in order to re-establish global air connectivity. IATA will work through the International Civil Aviation Organization (ICAO) and with health authorities to implement this solution quickly. International travel is 92% down on 2019 levels. Over half a year has passed since global connectivity was destroyed as countries closed their borders to fight COVID-19. Some governments have cautiously re-opened borders since then, but there has been limited uptake because either quarantine measures make travel impractical or the frequent chan...
Read MoreThe World Travel & Tourism Council (WTTC) is delighted to announce that in just three short months, 100 destinations are now using its ‘Safe Travels’ stamp, with the Philippines becoming the official 100th destination. WTTC, which represents the global Travel & Tourism private sector, made history earlier this year when it launched the world’s first ever global safety and hygiene stamp, and today the Safe Travels stamp reached its first major milestone. The stamp, which was developed in order to help restore confidence in travellers and work to revive an ailing Travel & Tourism sector, is now also being used by many more major holiday destinations such as the Maldives, Bermuda, Namibia, Uganda and Montenegro. Maldives The specially designed stamp enables travellers...
Read MoreThe COVID-19 pandemic has brought the travel and tourism industry to a near standstill with prolonged lockdowns. Now that government authorities across several countries have relaxed air travel restrictions, airports and hotels are trying to re-build confidence in travelers. Against the backdrop, contactless technologies are proving to be a game changer for the industry, says GlobalData, a leading data and analytics company. Sneha Nigade, Disruptive Tech Analyst at GlobalData, comments: “The COVID-19 pandemic became a wakeup call for the travel and tourism industry to accelerate investments in contactless technologies like biometric check-in at airports and keyless hotel entry, which significantly reduce potential risks associated with physical touchpoints.” The Innovation Explo...
Read MoreThe inevitable has happened. For the first time since WTM London was launched in 1980, there will be no live event. WTM had announced in July that they will have the full blown regular—most awaited travel trade show of the year—as scheduled from November 2-4, 2020. But that was not going to happen. WTM has now said that, after working tirelessly to organise a physical show, because of increasing number of travel restrictions and the uncertainty around the world, it had become practically impossible for many overseas visitors to attend in person. WTM London's Senior Director Simon Press said, "Additionally, there remains uncertainty around business events and conferences being allowed to take place in the UK.” Hence, after 40 years of everyone coming to WTM, WTM London 2020 is coming to...
Read MoreWTTC calls for ‘air corridors’ between key global cities to restore business travel
The restoration of ‘air corridors’ between the world’s top financial centres are vital to reviving international business travel and help kickstart the global economic recovery, according to the World Travel & Tourism Council (WTTC). WTTC, which represents the global Travel & Tourism private sector, says it is crucial that international business travel resumes, following its near collapse due to the coronavirus pandemic. WTTC is calling for the introduction of a pilot scheme, involving airport-based testing, followed by a second test just days later, for travel between the financial hubs of London and New York, with the aim of re-starting business travel. An analysis of Public Health England’s data by WTTC suggests two tests in quick succession could be 80% effe...
Read MoreThe tourism industry has welcomed the recommendations of the Kamath Committee, however industry players think it may be difficult for some to meet the parameters. The KV Kamath Committee has listed tourism among the 26 sectors that require financial restructuring in the aftermath of the COVID-19 crisis. The five-member committee appointed by the Reserve Bank of India (RBI) has recommended five financial parameters or ratios with sector-specific thresholds that lending institutions can factor in as part of a graded approach to restructuring or finalising a resolution plan for a borrower. The five parameters for each sector are the total outstanding liability to adjusted net worth, total debt to EBITDA, debt service coverage ratio (DSCR), average DSCR, and current ratio. Debt/E...
Read MoreTourism industry is among the worst impacted industries due to the COVID-19 pandemic and all sectors including airlines and hospitality have been severely impacted. A helping hand, largely from government, is definitely required for the survival of tourism industry in India. Now what is debated in tourism industry is whether it should be in form of a direct financial grant or not! Government itself has not offered any views on that. Following the news that the Indian Association of Tour Operators (IATO) has urged the government to provide relief to the tourism sector that is in dire straits due to COVID-19; Animesh Kumar, Director of Travel and Tourism Consulting at GlobalData, a leading data and analytics company, said, that, “India, with over 4.2 million confirmed cases, is only ...
Read MoreTravel and tourism have been one of the main industries to be gravely affected by COVID-19, leaving many countries with no choice but to close its borders to tourists for months due to the global pandemic outbreak. This has resulted in huge losses for almost all countries, especially those with high dependence on tourism revenue. UNWTO said in its World Tourism Barometer update for July 2020 that international tourist arrivals (overnight visitors) saw a decrease of 56% in the first five months of 2020 over the same period of last year, according to data reported so far by destinations worldwide. International arrivals declined 98% in the month of May. This represents 300 million fewer international tourist arrivals in January-May 2020 compared to the same period in 2019, which tran...
Read MoreThe global travel and tourism industry is among the worst hit due to COVID-19 pandemic and deal activity in the sector is muted. Japan too is not an exception, though the country seems to be keen on reviving the industry by introducing new initiatives. However, with the resurgence of new COVID-19 cases and mixed response amid criticism and concerns over second wave of infections, deal making sentiment is expected to remain subdued for some more months, says GlobalData, a leading data and analytics company. An analysis of GlobalData’s Financial Deals Database reveals that the number of deals announced in the Japanese travel and tourism industry decreased by more than 50% in Q2 2020 compared to Q1. In a bid to revive COVID-19 battered domestic tourism industry, Japan rolled out a travel ...
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