Travel and Airlines Recovery (Research Paper Sample)

Travel and Airlines Recovery 
Recently, there has been a global uproar attributed to the consistent downturn in global economic activities. Specifically, the 2019 coronavirus, Covid-19, and geopolitical tensions between the West and the Asian peninsula have created economic tension, leading to sanctions and a significant reduction in trade. While history has shown that such patterns may lead to the economic death of some industries, other sectors have impeccable economic models that enable them to weather the storm. For instance, during the 2020 lockdowns, Amazon’s stock skyrocketed as a result of increased online shopping. Similarly, there exist some economic players that are sure to emerge positive amid the challenges. One of such companies with a positive projection to bring back an economic recovery on a global platform is the airline and travel industry, attributed to its resilience and the constant need for global trade, investment, and need for bilateral relations between affiliated sub-sectors.
In particular, the airline industry is expected to enjoy increased investor activity during the consequent financial year or so as several new airlines, including British Airways and Air China, look to enter the market (BA & China Southern: New JV Leads in UK-China Airline Market, n.d). Currently, several existing airlines are expanding their fleets to accommodate increased demand. The change will increase employment in airport services, which will benefit numerous other related sectors such as tourism, social networking, hotel, leisure, entertainment, and trade.
In addition to airport services, some existing companies and industries such as hotels are likely to experience increased revenue coming from both domestic and international tourism events including but not limited to conferences and award ceremonies. This will subsequently lead to an increase in employment opportunities for various hotel staff. In the long term, the travel industry is set to lead a recovery globally, as people begin to go on holiday once more following two years of recession. This will result in favorable conditions for travel and tourism firms, as more people are likely to spend large amounts of money on conferences, award ceremonies, and other business events.
Similarly, - concerning both the short and long term - companies dealing with telecommunications are also likely to experience major growth. According to Kyrylov et al., (2020) alongside an increase in international tourism and business activities, telecommunication companies will see an increase in demand for their services as mobile phones are more widely used both internationally and domestically. Additionally, with the number of people shifting from job to job to survive the recession, many will be looking for new jobs after having previously been employed. At this point, online job search tools are more likely than ever to be used. This will therefore increase demand for telecommunications services. In the future, these trends are set to continue as telecommunication companies compete for market share internationally.