Spring is here. People are celebrating the Lunar New Year. Do you see a brighter future in 2021? Without a doubt, 2020 was a challenging year for most. Besides lockdowns, many companies let employees work from home permanently . When many business activities were put on a break and the supply chain was interrupted, the global economy collapsed . COVID-19 pandemic’s impact on the hospitality and tourism industry is devastating and unprecedented. How tough was it in 2020? The aviation industry According to the International Civil Aviation Organization, the global air traffic dropped from 4.5 billion in 2019 to 1.8 billion in 2020. The financial loss to the industry was $370 billion. Additionally, airports and air navigation service providers reported a loss of $115 billion and $13 billion, respectively. In the U.S., the six largest Airlines lost $35 billion in 2020. Hotels The Ame...
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