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The COVID-19 pandemic has had a devastating effect on the business travel industry. The international sector was by far the worst affected, facing a 75 percent drop in total trips.

While this year is set to be a breakthrough year for commercial space travel, the viability of this hyper-premiumized and ultra-exclusive experience remains unknown says GlobalData, a leading data and analytics company.

Shangri-La International Hotel Management Ltd.’s (Shangri-La) increased hiring activity since March of this year reflects the company’s expansion plans across Asia and Middle East.

The COVID-19 pandemic has had a devastating effect on Mexican outbound travel, with the number of trips falling by 73 percent. This figure is the second-highest fall in the Americas, after Peru (76 percent).

A total of 71 deals (comprising mergers and acquisitions, private equity, and venture financing) were announced in the global travel and tourism sector during April, which is a decline of 34,3 percent over 108 deals announced in March, according to GlobalData, a leading data and analytics company.

Despite travel restrictions caused by COVID-19, it appears that consumer confidence has not been deterred too drastically, as a recent survey by GlobalData, a leading data and analytics company, indicated.

South America’s tourism is fragile compared to regions such as North America and Europe. Unstable political climates, fears of corruption, and perceived crime are all factors that impact the continent, and these risks have only increased over 2020 as a consequence of the pandemic.

A total of 77 deals (mergers and acquisitions, private equity, and venture financing) were announced in the global travel and tourism sector during February of this year, which is a decrease of 3,8 percent over the 80 deals announced in January, according to GlobalData, a leading data and analytics company.

Following the fact that Australian and New Zealand residents are be able to travel between the two countries with no quarantine restrictions which commenced April 19,  Ralph Hollister, analyst, travel and tourism, GlobalData, a leading data and analytics company, offered his view on the situation:

The impact of COVID-19 may allow VR to permanently shake off its image of being a gimmick in the tourism sector. Hype behind the technology in recent years has often been greater than actual usage, especially for leisure purposes. However the longer this pandemic impacts travel for, the higher the chance that consumers and organizations adopt this technology on a more permanent basis, according to GlobalData, a leading data and analytics company.

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