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How travel and tourism will change after Covid-19 pandemic?
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The rapid spread of COVID-19 has brought the travel and tourism sector to a complete shutdown. As the entire world is under the pandemic lockdown, border closures and travel restrictions have particularly hit this industry hard. People still have unfulfilled travel plans in their bucket list. But nobody knows when the tourism will resume since the impact of the recent outbreak could last longer than expected.
However, the restrictions on the travel will eventually be lifted, and the situation will improve gradually. But, this does not mean that things will precisely be normal as they were before COVID-19. When travel does begin again, the priorities and plans will change. People will first choose a road trip to a place closer to home or travel domestically, before planning an international trip. The travel expenses are likely to be higher than before. Hence, the banks and other financial institutions are chalking out travel loans for globetrotters.
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We are looking at the new normal for travelling. It could mean a shift to private rentals over hotels and an increase in the use of travel insurance.
While the other industries can recover fast, the COVID-19 pandemic will have a more substantial impact on the travel and tourism sector. The tourism industry needs time to heal, because of the restrictions on the movement of people.
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