The travel industry around the world has had to adapt to accommodate the implications of the pandemic outbreak. For a period, airlines had to close down in many countries when there was an increasing number of COVID-19 cases, and most countries were still trying to figure out how to curtail the virus. A gradual return to routine has started, but it is unlikely that the industry will return to how it was before coronavirus hit the human race.
Impact of the Pandemic Outbreak on the Industry
Several policies are in place, including safety measures, routine checks, and sanitation, ensuring that both passengers and staff are protected while traveling. All of these did not come without extra costs.
The industry has also recorded a drastic decline in patronage throughout this year following the outbreak. The revenue lost from the pause in operations and the reluctance to make non-essential travels has dramatically affected the industry.
Ways a COVID-19 Vaccine Would Affect the Travel Industry
With the news of Pfizer’s newly found vaccine, there is great hope that a lot will change in the travel industry. We expect that the new development will affect the industry in the following ways:
Cheaper Cost of Transportation
Predictions have it that transportation fare will reduce if a potent vaccine is released and made available. We expect this cost reduction because, with a vaccine, airlines can take more people on a single flight without bothering about maintaining social distancing.
With the ability to have more people on board, passengers can pay lesser for their trip. Though we might not have fares go back to previous prices before COVID-19, there is hope that the cost of transportation will lessen.
Lesser Restrictions and Protocols
Specific protocols will remain despite the availability of a COVID-19 vaccine, but the government might relax several stringent rules and regulations. This relaxation of travel restrictions will make movement a lot more comfortable.
Many passengers will not have to show evidence of a negative COVID-19 test. However, people might need to show that they have gotten appropriate vaccination before boarding with other travelers.
Elimination of the Fear of Traveling
The travel industry recorded a reduction in the number of people booking flights and traveling worldwide during the COVID-19 outbreak. Several people’s safety fear and health have decided to limit travel to only essential and mandatory trips.
If a vaccine gets produced and proven to be potent as anticipated with the Pfizer vaccine, more people will be willing to travel around. The change will see a booming business in the travel industry, and there would be more patronage and increased earnings.
More Countries to Travel
Different countries are beginning to feel the negative impact of the restrictions and ban they placed on travels. Economies have significantly suffered from reduced revenue from tourism, the travel industry, and foreign investors and business owners’ inability to come into the country.
Introducing a vaccine would mean that governments have more justification for lifting bans without risking their citizens’ lives. By extension, airlines will have more travel destinations, which will give room for more passengers and increased income.
With more countries allowing foreigners and gatherings, the travel industry will record better patronage, suitable for everyone. The government will earn more from taxes; passengers might relatively pay less, and the travel industry will get a means to increase earnings.
The economy will also feel the impact, especially in countries whose economy relies solely on tourism as the primary revenue source. Also, a profitable business in the travel industry will increase the industry’s employment rate. Several people working in the industry who lost their jobs and income source can now have hope of getting employed. Work in startups will also greatly rekindle, and some will also have the opportunity to reopen if now shut down completely during the pandemic.
Travelers still have to be mindful of their safety, especially during transportation. When traveling by road, you should use private transport means. You can request your international driver’s license through a company offering the service to drive yourself around even in foreign countries.
Experts have predicted that a COVID-19 vaccine will bring about desired changes in the travel industry, but they also warned that things might never go back to normal as we have always known it.
Related article: Post-COVID Traveling: 6 Ways to Travel Safely
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About Are Morch
Hi, I am Are Morch. Your Digital Marketing Coach and Customer Experience Expert that specializes in creating effective digital customer experience offer for hotels while growing and scale customer acquisition and revenue.