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Decimated Travel Industry: Ready to Bounce Back After Covid-19?

6 Mar, 2021

The travel industry has been the first of the many hard-hit victims of the covid-19 crisis and experts initially believed that it might be the last one to recover. But as several countries across the world have kick-started mass vaccination campaigns; the industry looks forward to timely recovery from the pandemic-induced slump. With innovation on the way and a surge in what experts call ‘revenge spending’ by the consumers, there appears a silver lining that the jobs lost during the past year will soon be recovered and the travel industry will bounce back after the pandemic passes off. Let’s take a look at some of the factors that signal a recovery for the different sectors of the vast travel industry:

Innovation: A call for IT Professionals

As the pandemic forced the firms to temporarily pull the shutters down, almost every sector took to the digitalization of the business. This transformation will go on even in the post-pandemic era, for the benefits reaped by the industry through innovative AI systems and hybrid models are promising and attractive for emerging work culture. From e-tickets to web check-ins, the growing demand for touch-less services is inspiring the industry to provide innovative solutions to the customers. This will require a pool of skilled workers ranging from app developers to AI engineers. The increasing reliance on machine learning and automated systems is a sign of a rising opportunity in the IT sector of the travel industry. The pandemic has proved that the work-from-home culture is here to stay, for the time and costs saved by enabling communications from the comforts of home are attractive for the staffers as well as the workers. This new work culture will allow the industry to hire even from the remotest areas and thus expand its workforce in the market, ensuring growth in the coming years.

 

The game-changer marketing

The past year has been a tough experience for the travel and hospitality industry. It’s an even bigger challenge for the industry to bring back the customers on board, especially when people are struggling to come out of the fear of infections. As and when it comes to finding the customers and building trust, effective marketing strategy comes at play. Ensuring customers’ safety right from planning the journey to staying safe at the destination of choice to dining in comfort requires skillful marketing to convince the travelers to take the trip. As businesses open up across the world and business trips resume, the demand for a workforce in the sales and marketing sector is also picking up with digital marketing being the most loved tool for the firms. Many of the major firms have already started hiring marketing executives, content writers and bloggers to design and work with the latest marketing tools. This rising trend will ensure that the fresh talent is also absorbed by the industry as the competition is slated to pick up again in the coming quarters.

The rise of car rentals

Even before the pandemic struck, Uber and Lyft had been growing as the favorite alternatives for the working community for domestic travels. As public transport still seems a far choice for the commuters due to the uncertainty about safety from virus, car rental companies are eyeing a trajectory of growth in the coming quarters. People are adequately convinced about the safety of the ride by the established safety protocols of the cabs. Car rental services have come up as the most effective solutions for those who do not want to share the journey with an unknown co-passenger. The service has not only satisfied the consumers but also opened alternative means of livelihood for many during the pandemic due to its flexible operating procedures. Perhaps that’s the reason behind Uber being one of the biggest contributors to the gig economy in the US. The ever-expanding user and driver base of these car rental firms require an expanding tech base as well. This will open up diverse opportunities for the upcoming workforce as many new competitors are expected to enter this market sooner than later.

Demand in finance

The financial sector of the tourism industry is opening up for a new workforce as businesses across the different sectors are stimulated and investments from across the markets flow in. People having special skills in risk and impact modeling, revenue and portfolio management, data analysis, and budget forecasting will especially see new employment prospects coming up for them during the coming months. With growing awareness about safe travels and rising concerns about uncertainties, the demand for travel insurance is expected to rise. Moreover, revamping the infrastructure on the ground will require a large inflow of capital that has to be managed by financial experts. This will see a growing portfolio of managers in the financial sector of the industry as the firms open up and resume the work as usual. Efficient management in this sector will translate into rising revenues for the industry as a whole.

As travel restrictions are completely lifted, the tourism and hospitality industry will make a striking comeback with innovative and sustainable business models. The silver lining in the resumption of growth in domestic travel and hospitality services accompanied by the digitalization of services is a positive sign towards the recovery of the industry. By 2023, the industry is anticipated to be back to the pre-pandemic levels of revenue and jobs. If you are someone looking for a role in the travel industry, it might be the right time to accelerate your job search.

Author – Samar Sood
Samar Sood is a senior editor at Job Nexus – a professional resume writing and editing service provider that helps job seekers meet their potential recruiters.

Samar Sood

Samar Sood is a senior editor at Job Nexus - a professional resume writing and editing service provider that helps job seekers meet their potential recruiters.