travel industry concerns rise over the spread of COVID
Travel industry concerns are facing serious challenges due to the growing threat of the Coronavirus. Airlines and cruises have seen reductions in travelers as the virus spreads to more parts of the world.
Recently, to help combat a serious decline in one of the world largest industries, the White House has announced they will provide tax reliefs to certain travel industries.
These industries include airlines and cruises, which have both cut back on travel routes and seen tremendous ticket sales declines. According to economists, this is the worst financial problem for these industries since the attacks on 9/11.
Although Airlines are seeing the worst in terms of sales, other industries such as restaurants, hotels, concerts, and others, are all seeing individual crises due to the coronavirus. Other countries have made statements to help these other industries, such as Italy.
But, even with help from the government the companies still don’t know when things will start getting better.
The virus has infected over 100,000 people in the world, with China being the most impacted. Although many governments have made statements regarding safety others have taken much longer to adopt everyone else protocols.
For example, when the virus struck Italy a few weeks ago, it wasn’t shortly after that the country declared it an international emergency.
As the virus continues to spread, it is highly likely more and more companies will start closing its doors for the time being. Amongst the travel industry, some companies may even face the threat of bankruptcy.