Corona Virus or Covid 19 are viruses transmitted from animals to humans that cause illness such as fever, cold, etc and can lead to death. The disease can be transmitted from one human to another through close contact.
Common symptoms of the disease include shortness of breath, cough, fever, cold, & breathing difficulties. In acute cases, the infection can cause kidney failure, pneumonia, and even death. As per the report published by WHO on 15th March 2019, the total number of cases reported worldwide has increased to 153,523 with a total death toll of 5,746 people. The maximum number of cases is reported by China at 81,048 followed by Italy with 21,157 cases, Iran with 12,729 cases, South Korea with 8162 cases, Spain with 5,753 cases.
Some other largely affected countries are France, Germany, United States, Switzerland, United Kingdom, Netherlands, Sweden, Norway, Denmark, Austria, Japan, Belgium.
With the rapid spread of the disease across the globe, the tourism industry has been extensively impacted across the globe. The government and health institutions have started advising travelers to reconsider their travel plan, making it very hard for the airline and tourism companies to book sales. Tourism Companies in India have reported a sharp dip in bookings to USA, Europe, Singapore, China since the outbreak of this epidemic. Several online travel companies are experiencing a steep fall in the number of bookings since late February. The overall monthly revenues of the travel companies have reduced considerably with the dip in the number of outbound bookings to western countries alone, a segment that makes up nearly 20% of the business for travel and tourism companies.
The impact of the Corona Virus outbreak is estimated to generate losses of anywhere between 63 billion dollars to 113 billion dollars worldwide, the reports from the International Air Transport Association (IATA) say.
The Indian online travel market is experiencing an overall trip cancellation of 20-25% since February, an industry that is estimated to be valued at 20 billion dollars. However, some companies hope that the overall impact on the domestic market shall be considerably low. In India alone, the overall domestic travel bookings constitute roughly about 2/3rd of the overall online business. Travel companies are optimistic about the stability of the domestic segment. Companies are now offering full refunds for cancellations of booking to coronavirus affected countries like China, Italy, France, Germany, Singapore, etc.
However, some cities like Mumbai, Agra, Jaipur, Varanasi, Bodhgaya, Puri, Jodhpur, Jaisalmer, Goa, etc are experiencing a dip in the number of tourists, reports say.
Some online travel Companies have begun focussing and promoting to short trips to non-affected countries like Maldives, Srilanka Seychelles, etc. These destinations are becoming quite popular for travelers. This means that the companies are focussing on the promotion of travel packages to these countries and hope to generate revenue of nearly 60 to 70% from multiple short hall trips, which could also result in changing the overall tourism market dynamics for a while.
Overall, the marketers and tourism companies are hopeful to generate good revenue through the domestic markets even in the changing scenario. States such as Kerala, Rajasthan that have the highest numbers of tourists are also experiencing a shortfall in the number of international bookings and this shall continue till such time the world is able to tackle the epidemic effectively.