The global pandemic resulting from the outbreak of the novel coronavirus, COVID-19, has led to an unprecedented decline in travel. While it’s not the first time our industry has been disrupted by public health emergencies — the SARS epidemic of 2003 resulted in a reported loss of between $30bn-$50bn* — the impact being felt by the COVID-19 pandemic is already far more significant.
This analysis looks at IATA’s impact assessment of COVID-19. It looks at how this novel coronavirus compares to other epidemics like SARS, MERS and Avian Flu. It also shares some early signs of recovery in China, along with a review of government stimulus packages that are helping to support economies at this time.
While it does not provide reliable predictions for the impact of COVID-19, it does offer a limited data set that may be useful at this point as we try to think forward to how the travel industry will recover.
[Last updated 03.25.2020]