As the impact of coronavirus spread all over the world, the main concentration for the government and businesses is the safety of their people. This focus will continue and its effect on economic growth and corporate income which can lead to sharp sell-off in the equity market across the globe (Hoque, et. al., 2020). By COVID 19, the hospitality industry has faced a mass scale of cancellation for travel bookings and hotel accommodations which can create huge losses to such sectors.
Aims and Objectives:
Aim: The main aim of this study is to evaluate the impact of COVID 19 on the hospitality sector.
- To understand the coronavirus influence on different sectors
- To analyze the influence of coronavirus on the hospitality industry
- To evaluate issues faced by the hospitality industry due to coronavirus
Coronavirus influence different sectors
Due to COVID 19, there are various industries that have been facing issues and problems and they are also facing mass loss (Kumar, 2020). Such sectors involve hospitality, travel, airlines and so more. It is important for the government is to focus on such industries.
Influence of coronavirus on the hospitality industry
The coronavirus will create a negative impact on such sectors. With this, the hotel’s accommodation and booking ratio is declining (Nicola, et. al., 2020). The government closed all the hotels due to this pandemic which create a direct impact on business operations and profitability.
In this, qualitative and quantitative methods can be used by the researcher. Another is the deductive approach that can be applied for gaining accurate knowledge of this study.
Hoque, A., Shikha, F.A., Hasanat, M.W., Arif, I. and Hamid, A.B.A., 2020. The effect of Coronavirus (COVID-19) in the tourism industry in China. Asian Journal of Multidisciplinary Studies, 3(1), pp.52-58.
Kumar, A., 2020. Disastrous impact of Coronavirus (COVID 19) on Tourism and Hospitality Industry in India. Journal of Xi’an University of Architecture & Technology, 12.
Nicola, M., Alsafi, Z., Sohrabi, C., Kerwan, A., Al-Jabir, A., Iosifidis, C., Agha, M. and Agha, R., 2020. The socio-economic implications of the coronavirus pandemic (COVID-19): A review. International journal of surgery (London, England), 78, p.185.