The travel technology market is ready for reinvention and acceleration!

The pessimistic data are coming from the World Tourism Organisation, IATA and many others. IATA declares that no longer expects a “V-shaped” recovery for the airline industry as the effect of COVID-19 pandemics continue to spread. Brian Pearce, the chief economist of the industry group IATA, estimates the carriers will lose about $252 billion in revenues this year and that without government help, several “might not be able to last” until next year.

In the USA, by April, the airlines had already drastically cut their fleets and airlines will tread with extreme caution in putting planes back in service, unless they are sure passengers will fill them. Most analysts believe the industry’s recovery could take at least until 2022. 

European governments have rushed to rescue flagship airlines, with Germany offering loans to Lufthansa, and Italy’s government taking control of Alitalia. Even the most glittering heavy hitters will not escape the pain. “We will be permanently affected, with questions about changes in travellers’ behaviour,” Air France CEO Anne Rigail said recently.

What about ­corporate travel? So long as there is some risk to travellers, companies might hesitate to dispatch their employees, especially while trying to cut costs in a recession. 

European Union Internal Market Commissioner Thierry Breton has claimed that the pandemic is costing Europe 1bn every month, while the World Tourism Organization (UNWTO) estimates that worldwide tourist arrivals could fall by as much as 30% in 2020. 

Some important information sources, like The Economist, are talking about deglobalization.  

Travel industry without globalization sounds kind of restrictive.