world health organization
Economic Theories on COVID-19’s Impact on Hospitality and Tourism
July 13, 2020
Fever, dry cough, and tiredness. These are the COVID-19 symptoms according to the World Health Organization (WHO). Yet those are also the textbook symptoms that the world economy is experiencing today. What is missing is a small footnote that says, “By the way, watch out for the return of the Say’s Law”. If we were at the doctor’s, we would then ask: “Is it serious?” The answer would be: “It depends, we don’t know much about it!” Well, why not? COVID-19's negative impact on the aggregate demand and aggregate supply The COVID-19 crisis, like the 2008 crisis, led to a substantial drop in demand: customers don’t consume, gu...
How COVID-19 Has Affected Intentions to Travel and Perceptions in Key Global Markets
STR | April 22, 2020
COVID-19’s impact on consumer opinion and behavior seemed to evolve daily throughout March, especially with the World Health Organization (WHO) declaring a global pandemic on the 11th. To understand the effects on sentiment and future international travel plans, STR captured the views of travelers across 4 key markets: the U.S., Canada, U.K. and Australia. These four English-speaking markets make up a significant portion of global tourism receipts—20% or US$338 billion. Given these countries’ importance in the global travel industry—collectively, they account for some 462 million consumers—we examined March 2020 reactions to the ...
Deep Dive: Asia Performance in the Time of COVID-19
HotStats | March 30, 2020
COVID-19 swept through Asia first. Chinese health officials first reported the outbreak to the World Health Organization (WHO) on Dec. 31, 2019, and the rapid spread of the virus prompted aggressive containment measures across the entire region. The impact on the hotel industry was swift and severe, because many Asian travel markets rely heavily on Chinese visitor demand. Revenue Tourism Economics noted that in terms of spending, mainland China constitutes the most important outbound travel market in the world, and according to the China Outbound Tourism Research Institute, the top 10 destinations chosen by Chinese t...
International Tourist Arrivals Could Fall by 20-30% in 2020
March 27, 2020
The World Tourism Organization (UNWTO) has released its updated assessment of the likely impact of the COVID-19 on international tourism. Taking into account the unparalleled introduction of travel restrictions across the world, the United Nations specialized agency for tourism expects that international tourist arrivals will be down by 20% to 30% in 2020 when compared with 2019 figures. However, UNWTO stresses that these numbers are based on the latest developments as the global community faces up to an unprecedented social and economic challenge and should be interpreted with caution in view of the extreme uncertain nature of the current cr...
Knowland Insights: Coronavirus Pandemic – Hotel Group Impact and Actions
Knowland | March 12, 2020
Large losses of business, mitigation in the short term and positioning for an eventual rebound Washington, DC (March 12, 2020) Knowland, the leader in revenue-generating hospitality meetings data and analytics, is tracking the impact of the Coronavirus pandemic on group business for the hotel industry. Today, Knowland announced estimated group cancellation rates across a 90 - 120 day booking window for the US/North America, Asia Pacific and Europe regions. As expected, Asia Pacific has the highest cancellation rate with 90%, while U.S./North America hotels report a 40% cancellation rate for events and meetings. The U.S./North America ...
Coronavirus Fears Should Be Less Hype and Hospitality Can Help / Frank Wolfe
Frank Wolfe, CAE, FIH | March 9, 2020
March 9, 2020 -- Early this morning I was pulled off the beach (in my dreams) by a series of rapid-fire instant messages and emails. For those who have kids, it was like one of those middle of the night calls when they are staying overnight at a friend’s house. Immediately your adrenaline builds, you get instant sweats and you can feel the beat of your heart reverberating through the entire bed frame. The reason for this interruption was that ONE confirmed case of the coronavirus had been announced in a city where HFTP is participating in several events this month. Only one case of a virus and already we were being asked if we were going...
