Into 2021: Travel and Tourism Industry to be Left Reeling from Covid-19

January 11, 20215:46 pm381 views
Into 2021: Travel and Tourism Industry to be Left Reeling from Covid-19
Image Source: RawPixels

The COVID-19 pandemic has left industries of travel, tourism, and hospitality with a hard hit, with retrenchment numbers exceeding those seen in the Global Financial Crisis in 2008. International travel continues to have marked decreases and it appears unlikely for travel to return to record levels the world has seen previously in 2018 and 2019.

With the possibility of far-flung travel deemed to be elusive, it is clear that we will continue to remain in unchartered waters for as long as the virus defines fragile economic recuperation.

To help both employers and employees alike of travel, tourism and hospitality industries make sense of such unprecedented times, ACI HR Solutions has just released their annual ACI Report, inclusive of a special COVID-19 supplement.

The ACI Report 2021 presents key salary and employment trends for the severely impacted aforementioned industries across the Asia Pacific region. It consists of extensive data and research from the industry that can look to prepare affected professionals and personnel in the aforementioned industries.

See also: 50 Million Tourism Jobs at Risk Due to Covid-19, Asia to be Worst Affected

Key statistics from the ACI Report 2021 include:

  • Nearly three-quarters of all respondents in the travel and hospitality industries were impacted by the COVID-19 pandemic.
  • An alarming 20% of respondents indicated that they have lost confidence in the industry entirely and will no longer pursue a career in the sector, with Technology/ IT, Health Care, and Education being the top 3 alternate choices.
  • Nearly one-quarter of hiring managers expect further retrenchments to take place in 2021, while 21% of the same pool of managers are uncertain about this.

While the report is not able to provide accurate predictions of the trends to be expected in 2021, findings from the ACI Report 2021 could offer an indication as to what lies ahead for the employment landscape, especially for tourism and hospitality industries this year.

2021 marks the 9th edition of the annual ACI Report that uses a combination of qualitative and quantitative methods in the compilation of data. ACI Report 2021 gathered a sample size of 829 professionals working in the aforementioned industries, with 35% of the respondents being from Singapore and 45% of them having more than 20 years of industry experience.

With the ACI Report 2021, both employers and employees can look to gain an extensive statistical view of industry salaries and satisfaction levels through gathering data from industry insiders. The ACI Report 2021 serves as a useful guide for employers, job seekers, HR professionals, and recruitment specialists by providing insights into prevailing job market conditions and hiring practices, especially in a global economy upended by COVID-19.

Download the ACI Report 2021 here: https://www.acihr.com/employers/salary-report

Read also: Malaysia’s Tourism Industry Slowly Recovering Post-Coronavirus