Visiting exotic places from your living room and enjoying a cooking class from a world renowned chef are soon becoming the new ways of experiencing the world. As the fear of the pandemic prevents people from making ambitious travel plans, the industry is coming up with innovative ways to generate revenue, and at the same time, offer unforgettable memories to customers.
The travel and tourism industry is dealing with huge losses since the coronavirus outbreak. According to a study by the Confederation of Indian Industry and hospitality consulting firm Hotelivate, it is likely to lose $65.57 billion while operators alone are set to incur losses of $4.77 billion in the worst possible scenario. The World Travel and Tourism Council predicts the sector is likely to face 100 million job losses due to the pandemic.
Though the numbers are alarming, there is pent-up demand for travel. And people are slowly experimenting with staycations and short-distance trips. Modes of transportation, too, have become more intimate— like opting for self-driving road trips or choosing private charters instead of flying commercially. The recovery, however, will be slow. Here’s how some companies are changing with the times:
AIRBNB: ADDING NEWTo experiences Airbnb is bringing once-in-a-lifetime experiences to guests’ homes with its latest product launch. People can learn cooking a one-pot meal with a Michelin Star chef, learn the art of meditation from a Buddhist monk in Osaka, meet the dogs of Chernobyl or work out with an Olympian.
Denne historien er fra December 18,2020-utgaven av Forbes India.
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Denne historien er fra December 18,2020-utgaven av Forbes India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
