With a continuous evolution, it remains unclear how worst the impact will be on the industries across various sectors and the global economy.
The novel Coronavirus has had far-reaching consequences beyond the spread of the disease across the globe. With a continuous evolution, it remains unclear how worst the impact will be on the industries across various sectors and global economy. Among others, travel and hospitality sectors are one of the hardest hits.
Though countries across continents are taking swift actions to mitigate the development of a full-blown pandemic, it appears that we will have to wait to see visible results. Hotels, airlines, railway and even bus transport are some of the travel industries that suffer the most immediate repercussions. Additionally, various influencers, vloggers and bloggers who rely on brand partnerships for revenue are out of work.
While the country remains in lockdown, the companies in various segments are rebuilding their business strategy, carving out ways of restructuring their business after lockdown.
Travel Campaigns Amidst Lockdown
While travel cannot happen, companies in the travel sector are exploring alternative business ideas to keep the audience engaged. Adding value to the audience, Journey Weavers, a boutique travel consultancy, is kick-starting a campaign ‘Travel Within’ wherein they are tying up with experts in Yoga, Meditation, Financial Advisory, Make Up to give online sessions to the audience amidst the lockdown. The whole idea behind the campaign is to realise that it’s not only about experiencing the world but also ourselves, a lesson being taught by the present scenario.
Corporate Getaways and Sessions
As a part of their strategy to re-shape business ideas for period post-lockdown, companies in the travel sector are looking forward to exploring newer opportunities including the launch of workshops, sessions and getaways for corporates. The workshops shall span over a variety of themes including Financial Advisors, Make-up Artists, Stress Management, Life Coach etc. The companies can choose to conduct workshops on theme(s) they find appropriate.
The travel sector wants to send a message to the corporates that they still exist, and travel is not the only sector they want to stay limited to. The workshops will be either held through a webinar or in the company’s office, whichever the client finds better.
Companies like Journey Weavers are also looking forward to focussing on weddings and travel event across India. Additionally, opportunities are being explored to enter into partnerships with clubs across the country. The idea is to connect with people who have an idle property and convert it into a homestay for travellers, giving them cleaner, safer yet cheaper experience.
Explore India – Long Term Vision
While the travel sector in India remains worst affected, the situation will turn favourable for the sector once it returns to normalcy. MSMEs that are paying a high price in the current scenario can
hope for some good days. Because of the adverse effect of coronavirus on top international tourist destinations including Europe and America, for some time after the lockdown, people will avoid travelling to these destinations and instead opt for domestic trips. The good days for domestic travel are foreseen.
Summing It All Up
While the tourism industry faces an unprecedented confluence of threats – made up of instability and economic slowdown in the large markets, the companies must create opportunities to revive their businesses once the situation returns to normalcy so that they can act immediately once the normal business operations resume.
Disclaimer: The views expressed in the article above are those of the authors’ and do not necessarily represent or reflect the views of this publishing house
Link – http://bwpeople.businessworld.in/article/Planning-To-Rebuild-The-Badly-Affected-Businesses-After-Lockdown/09-04-2020-188782/