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COVID-19 Disruptions Creating Opportunities in the Tourism Industry

  • Contributor to Entrepreneur suggests the travel and tourism industry is ripe for entrepreneurs who can support a shift in consumer preferences
  • COVID-19 pandemic significantly impacted the industry and also put a greater focus on health and safety
  • Economic disruptions have historically opened up opportunities for entrepreneurs who can help revitalize the impacted industry

Summary by Dirk Langeveld

The travel and tourism industry took a major hit during the COVID-19 pandemic, suffering a wave of canceled trips followed by depressed demand as consumers were wary of health risks or put off by stringent restrictions. But there are also signs that people are eager to travel again as vaccination efforts proceed, with entrepreneurs likely to find plenty of opportunities as the sector recovers.

Ademola Alex Adekunbi, an Entrepreneur Leadership Network contributor, recently wrote in the magazine that economic downturns have been accompanied by entrepreneurs finding innovative solutions to help industries recover and adapt. He suggests that the same will hold true for tourism, with some trends including:

  • Getaways where workers travel to an exotic location to work remotely
  • Higher demand for up-to-date tourism resources
  • Greater focus on local destinations
  • Technological innovations, including biotechnology to assess traveler health and apps providing alerts on local regulations

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