TO RECOVERY & BEYOND THE FUTURE OF TRAVEL & TOURISM IN THE WAKE OF COVID-19 SEPTEMBER 2020 #FUTUREOFTRAVELANDTOURISM | SEPTEMBER 2020 CONTENT FOREWORD In the span of a few months in the ?rst part of 2020, the world has shifted. FOREWORD 1 2 First and foremost, the novel coronavirus, or COVID-19, has caused incredible tragedy. The number of people su?ering from illness, death of loved ones, unemployment, economic impact, health and poverty is overwhelming. Together, we share our heartfelt sympathy for those bearing these burdens and our sincere appreciation for those supporting on the frontlines. HIGHLIGHTS SECTION I: INTRODUCING A NEW CONTEXT SECTIONII:TRAVEL&TOURISMTRENDSANDIMPLICATIONS 1. DEMAND EVOLUTION 4 More broadly, COVID-19 has altered our way of life dramatically. Our social interactions, our professional dynamics, and our digital relationships are all transformed. The Travel & Tourism sector has certainly not been immune to that transition. 8 9 Indeed, the Travel & Tourism sector has already been tremendously impacted. Seemingly overnight, hundreds of countries suspended ?ights or halted international travel. Even domestically, national and sub-national jurisdictions instituted shelter-in- place orders. Many businesses were forced to close on a temporary basis, often escalating into permanent closures, unfortunately. While businesses that remained open, only saw limited activity. This all transpired such that at the peak of the crisis, a shocking one million Travel & Tourism jobs were lost daily. 2. HEALTH & HYGIENE 15 19 24 30 31