Summer vacations in this year will be different. The tourists put off traveling to avoid catching the new coronavirus.
The demand for international travel has taken a downward turn amid the outbreak. In addition, the virus spread to almost 60 countries.
The impact will be on the summer vacations, especially on Easter holidays, potentially summer holidays, (and) whether the ‘staycation’ becomes the default for all of us here. This is going to be tremendously damaging to these industries.
According to ForwardKeys, the international flights were turning down almost 20% year-on-year for the five-week period since February 23. “The longer the crisis lasts, the more likely it is that this will convert into no travel at all.”
He noted domestic trips sometimes referred to as “staycations”. It could see an uplift as coronavirus fears dent demand for overseas destinations.
“When there’s a large-scale crisis, it’s often the case that domestic tourism plays the role of safety net.” Olivier Ponti said. “People may look at short-haul trips over long-haul because it’s an environment they know better.”
Airlines have already warned the outbreak will weigh on their profits, with the International Air Transport Association estimating in February the crisis will cost the sector more than $29 billion in 2020.
‘Big Losses’ in Europe
Ten percent of European GDP (gross domestic product) is derived from tourism, according to the European Travel Commission. But in some EU member states, including Spain and Italy, that figure rises to as much as 14%.
According to CNBC, “The impact of the coronavirus on European tourism will be massive. We’re talking about big losses.” “We’re trying to persuade people not to cancel but to postpone their trips.”
He noted domestic trips sometimes referred to as “staycations”. It could see an uplift as coronavirus fears dent demand for overseas destinations.
Ralph Hollister, travel and tourism analyst at GlobalData, also told the outbreak could alter consumers’ travel plans.
Airlines have already warned the outbreak will weigh on their profits, with the International Air Transport Association estimating in February the crisis will cost the sector more than $29 billion in 2020.
