The impact of covid-19 on tourism industry in bangladesh
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The COVID-19 pandemic has significantly impacted the global tourism industry through widespread travel restrictions and a decline in demand. International tourist arrivals are estimated to decrease by 20-30% in 2020, resulting in $30-50 billion in lost revenue. Tourism-reliant sectors like hotels, restaurants, casinos, cruises, and retail are struggling with less business. Countries like China, India, Singapore and Japan saw large declines in foreign visitors of over 50% in early 2020. Many interconnected industries are affected by the downturn in tourism caused by the pandemic.
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World trade is expected to fall sharply in 2020 due to the COVID-19 pandemic. The WTO estimates a decline in merchandise trade volume of between 13-32% under optimistic and pessimistic scenarios. Nearly all regions will suffer double-digit declines in exports and imports. The decline is expected to exceed the trade slump during the 2008-09 global financial crisis. While a recovery is anticipated in 2021, the outlook remains highly uncertain and dependent on controlling the pandemic.
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I made the presentation for my university. I figured it would be a good idea to also share on Slide-share.
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This presentation contains the positive and negative impacts regarding corona. I made it from various resources and wanted it share it publicly, so that others can also use it.
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Join us in this (Angry) report as we will explore the ways in
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I made the presentation for my university. I figured it would be a good idea to also share on Slide-share.
Checkout the video presentation: https://youtu.be/y0iI9CInHvA
#covid19 #economy #bangladesh
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Email-nemaprakhar97@gmail.com (For full matter of presentation)
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Leader
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Supervisor ~
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Assistant Professor, Department of
Business Administration
Manarat International University
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WORLD INVESTMENT REPORT 2020
UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT UNCTAD
ttps://unctad.org/en/pages/newsdetails.aspx?OriginalVersionID=2396&utm_source=CIO+-+General+public&utm_campaign=5e26d15771-EMAIL_CAMPAIGN_2019_05_17_11_42_COPY_01&utm_medium=email&utm_term=0_3d334fa428-5e26d15771-70594621
Global foreign direct investment projected to plunge 40% in 202016 June 2020
COVID-19 causes steep drop in investment flows, hitting developing countries hardest. Recovery is not expected before 2022, says new UNCTAD report.
Socioeconomic Impact of COVID-19 in Oil Exporting Countries: An Analytical Re...
Socioeconomic Impact of COVID-19 in Oil Exporting Countries: An Analytical Re...International Journal of World Policy and Development Studies
One of the most burning issues that have dominated the public sphere in Nigeria and other oil exporting countries is the covid-19 pandemic and its attendant challenges. This pandemic is a shock on real economic fundamentals and frictionless of the market. It introduces a barrier between the market forces with strong complementary feedbacks in the real economy. The absence of precise vaccine or medication for the virus has necessitated the adoption of several precautionary measures with the aim of containing its wide spread. Critical among which are the travel restrictions, lockdown measures as well as social and physical distancing. These measures have detrimental effect on the demand and price of oil in the international market. In view of that, this study evaluates the social and economic impact of covid-19 in Nigeria taking into cognisance the effect on certain critical macroeconomic indicators. The study adopted an analytical approach to supplement the much ongoing documentations on the subject matter. Result shows that virtually all essential macroeconomic indicators are grossly affected with tax, remittances and employment exhibiting severe consequences. Also, uncertainty, panics and lockdown measures are key to motivating higher decrease in world demand. The supply disruptions and huge death toll generates a heightened uncertainty and panic for household and business. This uncertainty and panic leads to drop in consumption and investment thereby causing a decrease in corporate cash flows and triggered firm’s bankruptcy. Also, lay-off and exiting firms produce higher unemployment while labour income decreased significantly. Since it entails a large amount of government expenditure especially in the health sector which is required to contain the spread of the virus, there is needs for government to diversify its revenue sources and thus drop over dependency on the oil remittance. Furthermore, there is a need to support the financial system to avoid the health crisis becoming a financial crisis in the long-run.Corona pandamic pdf
The coronavirus pandemic is having a severe negative impact on Bangladesh's economy. Lockdown measures have shut down factories and businesses, causing unemployment to rise sharply. Exports and remittances from overseas workers have plunged, weakening the country's economic growth and foreign exchange earnings. The ready-made garment industry and millions of informal workers have been especially hard hit. If the pandemic is not controlled, it could undermine the political and economic stability Bangladesh has seen in recent years of strong growth.
Press release.september2013
The document summarizes Barbados' economic performance in 2013. Key points include:
- Foreign exchange reserves declined to $1 billion by the end of September due to a fall in private investment and tourism earnings.
- Real economic activity fell 0.7% for the first half of the year as the traded and non-traded sectors decreased.
- The fiscal deficit widened as government revenues fell more than expenditures.
- The outlook forecasts a recovery in 2014 as major tourism projects commence and fiscal measures boost foreign exchange earnings. Modest growth under 1% is expected for 2014.
Covid 19 Impact on Indian Economy
ANALYSIS OF ALL SECTORS OF INDIAN ECONOMY.
An analysis of the consumer retail sector (including food and beverage, apparel and footwear, beauty), automotive, travel, and hospitality services.
Report march 2020
The OECD interim economic assessment report provides the following key points:
1) The coronavirus outbreak has weakened the global economic outlook, with global GDP growth projected to slow to 2.4% in 2020 from 2.9% in 2019, before recovering to around 3.25% in 2021.
2) China's economy has been significantly impacted by containment efforts, disrupting global supply chains and lowering demand for exports. Other economies are also feeling effects from their own outbreaks.
3) Considerable uncertainty remains around the outlook depending on the duration and spread of the virus. A more prolonged or widespread outbreak would weaken prospects considerably with global growth potentially dropping to 1.5% in 2020.
Impact of covid 19 on transportation sector
The document discusses the impact of COVID-19 on India's transportation sector. It notes that all domestic transportation, including trains, buses, and public transit shut down due to lockdowns. This led to a major drop in transportation revenues and job losses. While transportation of essential goods and stranded travelers resumed gradually, overall ridership remains low. The airline sector saw a 33% drop in domestic passengers in March 2020. Seaports remained open for cargo but shut to passengers. The pandemic significantly disrupted supply chains and posed challenges for maintaining health standards. It is expected that the transportation sector will be among the last to recover fully.
What's hot (20)
Covid 19 impact on internatinal finance market. Bangladesh
Covid 19 impact on internatinal finance market. Bangladesh
Impact of COVID 19 on the Aviation Industry in Nigeria
Impact of COVID 19 on the Aviation Industry in Nigeria
Economic impact of COVID-19 lock down on small medium enterprise (smes) in la...
Economic impact of COVID-19 lock down on small medium enterprise (smes) in la...
The impact of covid-19 in Bangladesh a case study on economic sector
The impact of covid-19 in Bangladesh a case study on economic sector
WORLD INVESTMENT REPORT 2020 BY UNITED NATIONS CONFERENCE ON TRADE AND DEVELO...
WORLD INVESTMENT REPORT 2020 BY UNITED NATIONS CONFERENCE ON TRADE AND DEVELO...
Socioeconomic Impact of COVID-19 in Oil Exporting Countries: An Analytical Re...
Socioeconomic Impact of COVID-19 in Oil Exporting Countries: An Analytical Re...
Similar to The impact of covid-19 on tourism industry in bangladesh
The impact of covid 19 on tourism industry
The COVID-19 pandemic has significantly impacted the global tourism industry through widespread travel restrictions and a decline in demand. International tourist arrivals are estimated to decrease by 20-30% in 2020, resulting in $30-50 billion in lost revenue. Many tourist attractions worldwide have closed. Travel restrictions were implemented in countries like China, India, Singapore, and Japan, reducing foreign arrivals by over 50% year-over-year in some cases. Related industries like hotels, restaurants, cruises, rental cars, and fashion have also suffered. The global tourism industry contributes 10% of world GDP and jobs, with Asia expected to be hardest hit with millions of potential job losses. India's tourism sector has also been severely affected, with
Economic impacts of covid 19
This presentation contains the positive and negative impacts regarding corona. I made it from various resources and wanted it share it publicly, so that others can also use it.
Quantative-Analysis.pptx
This document summarizes the impacts of COVID-19 on the tourism and banking sectors in Bangladesh. It discusses how the pandemic severely impacted tourism through international flight cancellations and job losses in the tourism industry. It also notes the economic impacts, including an 80% predicted drop in international tourism. Regarding banking, the document outlines challenges like financial difficulties for management and increased non-performing loans. It provides statistics on affected bankers and declining private sector credit growth. Finally, it summarizes policies from the Bangladesh government and central bank to support these hard-hit sectors during the pandemic.
orca_share_media1656856518681_6949359923729947092.pptx
This document summarizes the impacts of COVID-19 on the tourism and banking sectors in Bangladesh. It discusses how the pandemic severely impacted tourism through international flight cancellations and job losses in the tourism industry. It also notes the economic impacts, including an 80% predicted drop in international tourism. Regarding banking, the document outlines challenges like financial difficulties for management and increased non-performing loans. It provides statistics on affected bankers and declining private sector credit growth. Finally, it summarizes policies from the Bangladesh government and central bank to support these hard-hit sectors during the pandemic.
ExpectedServicePerceivedServiceServiceDelivery.docx
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HTMX31 – Model of Service Quality (GAPS). Based on the article:
Zeithaml, V.A., Berry, L.L. & Parasuraman, A. (1988). Communication and Control Processes in the Delivery of Service Quality, Journal of Marketing 52(2), 35-48.
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IMPACT OF CORONA VIRUS ON THE TOURISM INDUSTRY OF UAE
1. INTRODUCTION
The COVID-19 pandemic and the steps taken to curtail its spread have a strong effect on the tourism market. According to the United Nations (UNWTO), in 2020 the COVID-19 pandemic would result in a 20 to 30 percent reduction of the tourism industry. This estimate is likely to be cautious for countries that rely on foreign tourists, as recent data on daily air traffic show a decrease of nearly 80% since January2020.
While several economic sectors are supposed to rebound as restrictive restrictions are removed, the pandemic has a longer-lasting effect on foreign tourism. This is primarily attributed to decreased consumer trust and the likelihood that the free migration of human beings would be limited longer. COVID-19 impact on tourism The link between Coronavirus (COVID-19) and News, Analysis and Resources The average recovery time for visitors to a destination was about 19 months in previous viral epidemics, according to World Travel and Tourism Commission (WTTC).
The rapid, severe and undoubtedly protracted downturn in the travel and tourism industry has forced international tourism countries to depend heavily on their finances. This involve the tiny developing island countries (SIDS), which are not only most fragile because they are heavily tourist-dependent but also because any shock of this size is challenging for tiny economies to cope with. On average, according to WTTC statistics, the tourism sector accounts for almost 30% of the SIDS gross domestic product (GDP). Of the Maldives, Seychelles, St. Kitts and Nevis and Grenada, this proportion is more than 50%. In general, travel and tourism raise around $30 billion annually in SIDS. A 25% decrease in tourism receipts would result in $7.4 billion or 7.3% decrease in GDP. The decline in certain SIDS may be considerably larger, hitting 16% on the Maldives and Seychelles.
The COVID-19 pandemic is projected to contribute, for several SIDS, to large levels of sales losses immediately without the requirement for an alternate source of foreign currency revenues to fund international debt and pay for imports.
Devastating economic consequences Countries can generally cope with economic storms through additional debt or by using foreign reserves that are available.
Nevertheless, access to global capital markets is becoming more restricting, particularly for small countries like SIDS, which are mostly hig.
Presentation 19 (2).pdf
The document discusses the impact of COVID-19 on the global tourism industry. It notes that international tourist arrivals declined by 70% from January to June 2021 due to travel restrictions from the pandemic. The tourism industry has been severely impacted and is predicted to lose over 120 million jobs with over $1 trillion in economic damage. Research found that the tourism sector plays an important economic role but has faced significant challenges from COVID-19, ultimately impacting the economic growth of many nations. Safety measures are being implemented and travel bubbles proposed to revive the hard-hit tourism industry in a phased manner.
Impact of Covid on business.pptx
The presentation summarizes the impact of the COVID-19 pandemic on businesses globally. It led to an unprecedented shock worldwide, stopping global progress. There were massive revenue losses, business closures, layoffs and liquidity issues. The negative impact on sales was large and persistent across firms. Most businesses adjusted employment through reducing hours and wages rather than layoffs. There was significant heterogeneity in the effects across countries, with smaller firms facing more financial constraints.
Impact of Covid 19 on Tourism Sector in Nagaland An Overview
With the outbreak of corona virus and subsequent lockdown restrictions has adversely impacted the global economy and India is no exception. This pandemic has deeply impacted on the tourism sectors as all the tourism activities was stand hold to contain the spreading of corona virus. This paper discussed about the origin of covid 19, highlight of covid 19 all over India and Nagaland. This paper also enlighten with rural tourism which we also called as community tourism, in respect to some selected villages. One of the major event contributors to the growth of tourism sector in Nagaland is -˜Hornbill festival’. This hornbill festival generated business worth of Rs. 100.73 crores revenue from investment of Rs.4 crores, giving around 8000 plus employment jobs to Nagaland economy during the year 2019. However, due to covid 19 pandemic, the Nagaland Government has decided to go complete virtual celebration of Hornbill festival 2020 and therefore the income and employment generated in previous years are recorded as losses and cannot be quantified due to the ongoing pandemic. Based on the challenges of tourism, this paper have brings out some policies and recommendations which needs to be dealt by the Nagaland government after the Pandemic crisis to revive the local tourism. The government should focus on the promotion of domestic and rural tourism as a short term strategy which could be the major contributor to the growth of eco tourism sector in Nagaland. Dr. Aomatsung "Impact of Covid 19 on Tourism Sector in Nagaland: An Overview" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd43759.pdf Paper URL: https://www.ijtsrd.com/humanities-and-the-arts/economics/43759/impact-of-covid-19-on-tourism-sector-in-nagaland-an-overview/dr-aomatsung
Covid 19 - galvanizing the travel industry for high tide
The spread of the Covid-19 disease globally, caused by the coronavirus, has halted travel industry operations such as airlines, hotels and cruises across the globe. Demand for the three major segments of the global travel industries airlines, hotels and cruises has slumped to its lowest point in several years.
https://www.wnsdecisionpoint.com/our-insights/reports/detail/93/covid-19-galvanizing-the-travel-industry-for-high-tide
Covid 19-and-travel-and-tourism-in-kenya-policy-brief
The document provides strategies for Kenya's tourism industry recovery from the impacts of COVID-19. It discusses immediate, medium-term, and long-term impacts including job losses, revenue reductions, and business closures. Recommendations focus on improving health and safety protocols, staggering reopening, financial support, marketing, training, and diversifying tourism products. Domestic tourism is highlighted as important for recovery initially, through targeting growing demographic groups and repackaging products to local interests.
Running head IMPACT OF COVID 19 ON TOURSIM INDUSTRY OF UAE1.docx
Running head: IMPACT OF COVID 19 ON TOURSIM INDUSTRY OF UAE1
IMPACT OF COVID 19 ON TOURSIM INDUSTRY OF UAE 5
IMPACT OF COVID 19 ON TOURSIM INDUSTRY OF UAE
STUDENT’S NAME
PROFESSOR’S NAME
COLLEGE
DATE
Abstract
The major source of economic stabilization in Middle East countries is oil production and export. The recent pandemic is causing turbulence to the economies of the Middle East region. A sudden drop in domestic and external demand for goods and products especially crude oil, downfall in the crude oil prices, halts in the production due to labor shortage are some of the major impacts observed in the region. Additionally, falling consumer confidence coupled with the tightened financial condition is also decreasing the economic activities in the region. The World Travel and Tourism Council have warned the COVID-19 pandemic could cut 50 million jobs worldwide in the travel and tourism industry.Once the outbreak is over, it could take up to 10 months for the industry to recover. The tourism industry currently accounts for 10% of global GDP. The UAE economy derives much from its tourism industry. Studies project the travel and tourism industry will contribute about Dh312.4 billion to the UAE’s GDP by 2027. It is apparent that the industry and its employees are the backbone of the economy. But if businesses in this industry don’t receive immediate aid from the government, the chances of them surviving the coronavirus outbreak are slim even though they were growing at a commendable rate before the outbreak (Hill, 2020). The corona virus epidemic is putting up to 50 million jobs in the global travel and tourism sector at risk, with travel likely to slump by a quarter this year. The United Arab Emirates has implemented a travel ban on non-Emiratis residents, reduced customs fees and municipality fees, cut interest rates and is rolling out a $27 billion stimulus package to attempt to reduce the impact of the corona virus on the economy. With tens of thousands infected across the region and thousands of lives lost, it is clear that Covid-19 will exacerbate governance failures, sectarianism, tensions between secularists and Islamists, and deepens economic cleavages within and between the states. The United Arab Emirates began implementing social distancing measures whilst the virus was still at its infancy.
The impact would be felt most on the economic front as capital markets tumble, tourists evaporate in the midst of a ban on flights and lockdowns, and oil prices contract. Chinese buyers are involved in a significant portion of real estate transactions in the UAE. With China still recovering from the virus, these Chinese buyers have postponed making new purchases. Given the vast economy of UAE with its glut of property, even before the virus, this city-state is confronting economic catastrophe. With the UAE cancelling its Expo 2020and Saudi Arabia not allowing the annual haj pilgrimage to take place, hundreds of millions of dollars were lo.
Coronavirus Impact Assessment And Mitigation Strategies On Tourism And Leisur...
Product Description The PowerPoint template is useful tool in presenting coronavirus impact assessment and mitigation strategies associated to tourism and leisure industry. It covers details regarding the tourism and leisure sector overview contribution of travel, tourism and leisure sector to GDP, impact of coronavirus pandemic on GDP impact on China tourism industry during COVID 19 pandemic, addressing international tourist arrivals and tourism receipts. It covers details regarding tourism and leisure consumer behavior with impact of coronavirus spread on various tourism and leisure segment such as tourist apartment, business travel, nightly leisure and shopping tourism. It covers information regarding the tourist consumption habits, addressing consumer concerns associated to everyday and tourism habits. Various enterprise risks are identified such as disruption due to social distancing, plummeting employee productivity, stressed supply chain, recession in tourism and leisure sector, unemployment and investment pullback risk, and economic instability and civil unrest due to pandemic and how these risks are impacting overall travelers in tourism and leisure sector. It also covers details about how these risks can be mitigated through business impact analysis, risk readiness assessment, risk management plan, business continuity plan, policy management, incident management, risk response plan for firms associated to tourism and leisure sector during COVID 19 outbreak. It also covers risk maturity survey questionnaire to ensure the maturity level of enterprises in handling risks. https://bit.ly/3hCDHjy
Covid-19 impact on Travel Industry - Analysis
Get ready for the impact of Covid-19 on Travel Industry. Automation is the key. Industry insights & size of Indian Travel Industry included with figures. Investor sentiments post covid-19 included
Impact of pandamic in chaina economy
The COVID-19 pandemic will have significant short-term impacts on China's economic growth and development. GDP growth in the first quarter of 2020 is expected to decline by around 2 percentage points. While consumption will be most heavily impacted, slowing to a 5-6 percentage point reduction in growth, investments and exports will also suffer. Different industries will see varying effects, with tourism, entertainment, aviation and manufacturing impacted the most, while pharmaceutical, e-commerce and insurance may see relatively favorable outcomes. The outbreak is projected to cost China's tourism industry around 500 billion yuan or 2% of first quarter GDP in lost revenues alone.
Effect Of COVID-19 On Global Tourism The Full Report (September Update)
In 2020, the tourism industry has suffered from a hiatus as many countries were locked down because of the COVID-19 pandemic. This caused devastating economic consequences in countries highly dependent on tourism. In this report, we examine the current trends as countries reopen and what effect this will have on the tourism industry.
Eec project on impact on covid 19 tourism in malaysia
This document contains a project report on the impact of COVID-19 on Malaysia's tourism industry. It includes an introduction to COVID-19 and its effects, a background on the tourism sector in Malaysia, and details on how the pandemic has negatively impacted airlines, hotels, and tourism. The outbreak has exposed risks to Malaysia's Visit 2020 campaign by leading to a large drop in tourists from Singapore and China. It concludes that COVID-19 has hugely impacted Malaysia's tourism industry by causing tourists to cancel trips and the government to impose restrictions.
Economic impact of covid-19
The document discusses the economic impact of the COVID-19 pandemic. It led to stock market declines, rising unemployment affecting tens of millions of people worldwide, and the risk of a global recession in 2020 according to the IMF. Various sectors were impacted, including automotive, energy, food and agriculture, and retail. Government responses included stimulus packages, tax relief, loan guarantees, and wage subsidies to support economies.
Effect pandemic on_tourism
Tourism is a distinctive way to meet anyone easily in any part of the world and through this pandemic whole tourism was distrubed
Impact assessment of the COVID-19 outbreak on international tourism
- UNWTO estimates that international tourist arrivals could decline by 20-30% in 2020 due to the COVID-19 pandemic, resulting in a loss of $300-450 billion in tourism receipts. This would represent a decline of 290-440 million international tourists and a setback of 5-7 years.
- Countries with over 5,000 reported COVID-19 cases such as China, Italy, the US, and Spain collectively represent 34% of global tourism arrivals and 39% of global tourism receipts. The pandemic is having an unprecedented social and economic impact on the tourism sector.
- Coordinated fiscal and monetary measures are urgently needed to protect jobs, support businesses, and accelerate
Sectors affected by covid
The document summarizes the impact of the COVID-19 pandemic on various sectors in India. It discusses sharp declines in the Nifty index and sectors like airlines, tourism, hotels, and automobiles being the worst hit. Specific companies like Maruti Suzuki, Eicher Motors, Mahindra, Wipro, Infosys, TCS, ITC, HUL, and Britannia saw declines in sales and profits, with the exception of Infosys and Britannia which saw growth. The information technology sector was impacted but also saw an acceleration of remote working.
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orca_share_media1656856518681_6949359923729947092.pptx
orca_share_media1656856518681_6949359923729947092.pptx
ExpectedServicePerceivedServiceServiceDelivery.docx
ExpectedServicePerceivedServiceServiceDelivery.docx
Impact of Covid 19 on Tourism Sector in Nagaland An Overview
Impact of Covid 19 on Tourism Sector in Nagaland An Overview
Covid 19 - galvanizing the travel industry for high tide
Covid 19 - galvanizing the travel industry for high tide
Covid 19-and-travel-and-tourism-in-kenya-policy-brief
Covid 19-and-travel-and-tourism-in-kenya-policy-brief
Running head IMPACT OF COVID 19 ON TOURSIM INDUSTRY OF UAE1.docx
Running head IMPACT OF COVID 19 ON TOURSIM INDUSTRY OF UAE1.docx
Coronavirus Impact Assessment And Mitigation Strategies On Tourism And Leisur...
Coronavirus Impact Assessment And Mitigation Strategies On Tourism And Leisur...
Effect Of COVID-19 On Global Tourism The Full Report (September Update)
Effect Of COVID-19 On Global Tourism The Full Report (September Update)
Eec project on impact on covid 19 tourism in malaysia
Eec project on impact on covid 19 tourism in malaysia
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Impact assessment of the COVID-19 outbreak on international tourism
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Assessing the Influence of Transportation on the Tourism Industry in Nigeria
This research dissertation investigates the complex interplay between transportation and the tourism industry in Nigeria, aiming to unravel critical insights that contribute to the enhancement of the overall tourist experience. The study employs a multi-faceted approach, literature review establishes a robust theoretical framework, incorporating The Service Quality and Satisfaction Theory to guide the research questions and hypotheses.
The methodology involves the distribution of a structured questionnaire, ensuring a representative sample and facilitating a comprehensive analysis of the gathered data.
Key findings include the nuanced perceptions of transportation infrastructure adequacy, safety and security concerns, financial influences on travel decisions, and the cultural and ecological impacts of transportation choices. These findings culminate in a comprehensive set of recommendations for policymakers and practitioners in the Nigerian tourism industry. The findings contribute to the existing literature by providing actionable insights for policymakers, stakeholders, and researchers in the Nigerian tourism sector.
The recommendations encompass gender-sensitive planning, infrastructure enhancements, safety measures, and strategic interventions to address financial constraints, ensuring a holistic and sustainable development of the tourism industry in Nigeria.
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The impact of covid-19 on tourism industry in bangladesh
- 1. THE IMPACT OF COVID-19 ON TOURISM INDUSTRY
- 2. About: With the NHS struggling, airlines grounded, and the retail sector being decimated - many sectors are struggling with the impact of COVID-19. However, one of the main sectors that have been impacted by the pandemic is the Tourism Industry.
- 3. Overview: The COVID-19 pandemic has a significant impact on the tourism industry due to the resulting travel restrictions as well as a slump in demand among travelers. The United Nations World Tourism Organization estimated that global international tourist arrivals might decrease by 20-30% in 2020, leading to a potential loss of US $30-50 billion. In many of the world’s cities, planned travel went down by 80-90%. Many tourism attractions around the world, such as museums, amusement parks, and sports avenues, are closed.
- 5. Travel Restrictions by Country: ➔ China - Tourism in China has been hit hard by travel restrictions and fear of contagion, including a ban on both domestic and international tour groups. ➔ India - Foreign arrival in March 2020 fell by 66.4% year-on-year. ➔ Singapore - Foreign arrival in February 2020 fell by 51.2% year-on-year. ➔ Japan - Foreign arrivals in March 2020 fell by 94% year-on-year. By mid-April, daily arrivals of foreigners had fallen by 99.9% year-on-year.
- 6. Other Interconnected Industries Affected due to Tourism Industry and COVID-19: ➔ Casino & Gambling Industry - The global gambling market is expected to decline from $521.6 billion in 2019 to $495.6 billion in 2020 at a compounded annual growth rate (CAGR) of -5%. ➔ Cruise Industry - Many operators have temporarily suspended all voyages, with many others canceling a number of cruises. The influence of the cruise industry is far-reaching.
- 7. ➔ Hotel Industry - Foreign Tourist Arrival (FTA) into India started softening in February, as the spread of COVID-19 continued. Occupancy across hotels in key cities declined rapidly and as per our estimates has declined by a staggering 45% points compared to the previous year. ➔ Rental Car Industry - The coronavirus (COVID-19) pandemic has hit the rental-car industry harder. Ola in India has decided to let go of 1,400 employees as the pandemic has dealt a severe blow to its businesses. Its revenue has reduced by 95% in the past 2 months, CEO Bhavish Aggarwal wrote.
- 8. ➔ Restaurant Industry - The coronavirus (COVID-19) pandemic is causing increasing damage to the global restaurant industry. Due to measures of social distancing and general caution in public places, consumers have been dining out less and less. ➔ Fashion & Luxury (shopping tourism) - Luxury brands should prepare for a drop in sales of between $85 and $120 billion by 2020, or about 29.2% of the $350 billion luxury market. The fashion and luxury category will lose between 450 and 600 billion dollars in sales.
- 10. Occupancy Level of Luxury Hotels On Covid-19
- 11. Jobs Risk On Covid-19 In tourism Sector
- 12. THANK YOU