A weekly recap of facts, stats, official statements and key resources on COVID-19
This article is intended to provide travel professionals and business leaders with an objective perspective on the evolving situation through facts, statistics, official statements and key resources from international regulatory bodies and government ministries. The outbreak is moving quickly, and some of the articles may fall rapidly out of date. We will provide updates on a weekly basis as the outbreak evolves.
“We have never before seen a pandemic sparked by a coronavirus. This is the first pandemic caused by a coronavirus. And we have never before seen a pandemic that can be controlled, at the same time… And we have called every day for countries to take urgent and aggressive action.”
Business meetings, workshops and conferences are being affected, especially major events. Your continuity plan should assess the impact of cancelling events if they cannot be rescheduled, postponing them or holding them remotely if this can be managed. Doing things remotely or virtually is a critical path to protecting your business and its staff.
IATA now sees 2020 global revenue losses for the passenger business of between $63 billion and $113 billion. Financial markets have reacted strongly. Airline share prices have fallen nearly 25% since the outbreak began, some 21 percentage points greater than the decline that occurred at a similar point during the SARS crisis of 2003.
Deliveries of new aircraft to Asia-Pacific collapsed in February, with only 11 aircraft delivered to the region out of the global total of 77. According to Cirium fleets data the Asia-Pacific, consistently the leader in aircraft deliveries, trailed both Europe, which saw 29 new aircraft delivered, and North America, where 23 aircraft were delivered.
The ongoing novel coronavirus (COVID-19) outbreak is having a significant impact on developing Asian economies through numerous channels, including sharp declines in domestic demand, lower tourism and business travel, trade and production linkages, supply disruptions, and health effects.
In many markets, hotel lead times are short. A majority of bookings come in a short window, mostly within a week to two-week period. With the spread of COVID-19, guest booking patterns are starting to change. Will there be an even shorter window or are individuals postponing all travel for the time being?
By March 2020, temples in Bali were filling up with locals praying for the recovery of the local tourism industry – an essential economic engine that had been hit hard by the spread of the COVID-19 coronavirus. Roughly one million Chinese tourists now visit Bali during a normal year, and the Indonesian province is not alone.
IATA: List of Travel Restrictions – Updated Daily
Restrictions are becoming more widespread, and major airports are putting preventive measures in place. A document featured on the International Air Transport Association (IATA) website, lists countries where restrictions are in place.