The health crisis has forced entrepreneurs in the sector to quickly diagnose the situation in order to survive and return to the growth path as soon as possible
These 8 intense months since the Covid-19 pandemic broke out have been especially painful, but if there is one thing that has become clear it is that as in any crisis there will be companies that will emerge stronger and others that will disappear. Within the first group, we could include many that have had sufficient liquidity to take 2020 as a year of transition to a new order, and many others that have been able to make a quick and accurate diagnosis of the situation in this area and found creativity and in synergy his path to survival.
A before and after
Until February, it was a daily occurrence to witness thousands of medium or small companies applying their power of resilience to grow to the maximum, their range of tools has included market research, training, technological innovation and, above all, their ability to search for other companies that complement their offer. to generate added value. The pre-crisis economy was, according to many experts, a greater development opportunity for this type of company. And perhaps even today that remains.
Meanwhile, the big companies are the ones that have been surprised by overwhelming problems of all kinds and that have been trying to solve in an unorthodox way. Many have taken the path of painful decisions like office closings and mass layoffs, others have had the humility to look in and out to merge with staunch enemies of yesteryear, somewhat unthinkable.
All companies will have to learn to collaborate and work on a platform with startups, researchers, universities, academic and philanthropic institutions, this ecosystem will allow them to get ahead and protect themselves against future crises.
The creation of synergies is necessary to create a good muscle with which to resist the unfavorable environment, as well as to generate growth and development.
Technology, the great ally
To survive in the current situation, companies need to boost their digitization and for them it is vital to have a technological partner that detects the needs that provides the tools and strategies necessary to adapt to new market challenges. There are high hopes for artificial intelligence and blockchain as core tools.
Balance between boldness and responsibility
The Covid-19 and its control has been in these long months a laboratory of trials and errors from which both government authorities and businessmen have been learning, something that is vital for these hours is to establish how far you can risk trying to win and where there is the limit to be reasonable and take care of health.
Quarantines and social isolation have meant for the world sharp falls in activities such as aviation, tourism, trade and free zones. In the region, it is expected that there will be a significant contraction in economic growth, including with implications for the year 2021.
UNWTO Secretary-General Zurab Pololikashvili said: “The restart of tourism can be carried out responsibly and in a way that protects public health and at the same time supports business and livelihoods. As destinations continue to reduce travel restrictions, international cooperation is of utmost importance. In this way, global tourism can win people's trust, essential foundations as we work together to adapt to the new reality we are now facing. "
According to an UNWTO report, destinations with a higher dependence on tourism are more likely to ease travel restrictions: of the 87 destinations that have eased restrictions recently, 20 are small island developing states (SIDS), many of them which depend on tourism as a central pillar of employment, economic growth and development.
The opportunity to be more sustainable
Although awareness of caring for the environment had been growing in the tourism market, this crisis has revealed that sustainability is one of the priorities in the new business environment. In fact, according to a WTTC study, 66% of consumers in 60 countries say they would consume more green products, especially younger generations.
IATA also emphasized the aviation industry's commitment to its emission reduction targets and called on the International Energy Agency (IEA) to prioritize investment in sustainable aviation fuel (SAF) to help the contribution of aviation to energy to post-COVID-19 recovery.