The COVID-19 pandemic has hit the travel industry hard, with a total collapse of international travel. In 2020 and 2021, airline passenger numbers decreased by 60%, causing massive job and cumulative revenue losses of about $498 billion. The last 2 years have demonstrated that the world will likely continue to grapple with some form of the COVID-19 virus for at least the next couple of years. Since the new Omicron variant is already raising concerns globally about travel, the travel sector must prepare to stay ahead of the curve.
The pandemic has had an equal impact on all 3 types of ports of entry: land ports, airports, and seaports. It has forced ports of entry operators to rethink their business continuity strategies and seek additional revenue streams to mitigate the risks of similar unexpected events in the future. As such, the focus on cargo and non-aeronautical revenues is gradually increasing, while technology investment has taken the front seat to address the need for contactless and safe travel.
GROWTH PIPELINE DIALOG™
Take your first step towards achieving growth-centric solutions with our
Growth Pipeline Dialog™. Speak to our industry experts in a complimentary open discussion that will spark innovative thinking and growth opportunities that will benefit your organization.