The world has been reeling down under the weight of COVID-19 or the Novel Corona Virus,  as businesses struggle to pick up post-outbreak of the deadly pandemic crisis. The travel and hospitality sector by far has been the worst hit sector. Experts opine that for the travel sector to revive its fortunes, it should put technology at the heart of operation. And rightly so, other industry sectors have started innovating in novel ways hitherto never seen. Experimentation at the technological front is already paying rich dividends.

The travel industry devastated by the spiraling effects of COVID-19 will see a revival mode in 2021, and expected to achieve the pre-pandemic crisis level by 2023 with more flights in action.

It is estimated that the travel industry and aviation sector will shrink by 25% and 50% respectively in 2020 to grow steadily by 2021, and hit the pre-crisis level by 2023. The aviation sector worldwide suffered over 20% during the month of May which further declined to 80% in June. Many experts expect world aviation to improve by 30% to 35% in July going by the recent numbers; however, there is a big concern of more than 10 major countries including the US being badly hit.

The US had pumped $50 billion into the global aviation industry, as a bail-out package, while England and Japan had offered about 20% of their GDP. All said and done, India has failed to rise up to its full potential with Air India, one of the major Indian air carriers, facing the heat. So, what is the road ahead? We will continue our discussion in the subsequent blog.