The role of a Covid-19 vaccine in the travel industry

Hope got rekindled in the heart of individuals, organizations, and nations following the news of producing a potent vaccine that could help end the COVID-19 menace. There has been a recorded increase in the travel industry’s activities with the renewed energy in people to resume travels.

Nations that earn primarily from the participation of foreigners in business, investment, tourism, and so on are hopeful that they can restore their economy and improve their citizens’ living standards when the virus’s vaccine is in use. 

As we are expectant of the proper circulation of a vaccine, we should take a moment to analyze the changes the pandemic outbreak has made in our lifestyle, particularly traveling habits.

Ways in Which the Pandemic Outbreak Positively Affected Travels

As much as COVID-19 has presented us with significant challenges, the pandemic outbreak did not leave us without some blessings. In response to the deadly virus, several changes got incorporated, which has improved traveling for good.

The continuation of these changes despite the vaccine’s availability will do both the travel industry and passengers a great deal of good. These changes and policies adopted include the following:

·         Flexibility

Airlines became a lot more flexible with their payment and refund policies since the outbreak of the COVID-19 pandemic. Various airlines offered a full refund of fares for booked or paid flights to countries with travel bans. Several airlines employed different means to make payment a lot more comfortable for their passengers.

Maintaining flexibility, regardless of the vaccine, could change travel for good. Not to be too hopeful, these airlines might withdraw some of these leniencies, but many would remain. 

·         Traveler’s Behavior

Travelers now prepare adequately for travels. It makes it a lot easier for airlines to control boarding. People are more careful about their health and, as such, are more responsive to regulations. This habit has been a good chance for travels since the onset of the pandemic.

·         Health and Safety Protocols

The airline now prioritizes safety and health protocols. Airplanes are now well cleaned and sanitized to ensure a virus-free environment.

One would also notice a very high degree of orderliness at the airport due to the social distancing protocol. People do not have to crowd themselves in the queue, making traveling a lot more stress-free for passengers.

Expected Positive Impacts of the COVID-19 Vaccine

With a proper circulation of the vaccine, where everyone can have access to vaccination at an affordable price, travel will experience a significant change for good. Considering how much influence the pandemic outbreak had on our traveling habit, we expect to record the following changes:

·         Improved Travel Experience

With the release of the COVID-19 vaccine, traveling will be a lot easier. Several boarding protocols that stress out travelers, like getting tested for COVID-19, maintain social distancing at the boarding gate, arriving at the airport many hours before take-off time, may be relaxed. We can finally return to a more comfortable process with the provision of the vaccine.

·         Cheaper Fares for Travelers

With the vaccine, airlines can allow more passengers on board a flight. It will help reduce flight fares as more people can share the burden of transportation cost per trip. A lesser fee will make transportation more affordable, and people can plan for more trips than before.

·         Assurance of Safety

The major discouragement with travels was the fear of safety. Several travelers canceled their trips except when it was inevitable. The vaccine would mean that people can now tour the world without fear of contracting the coronavirus disease. They also do not stand as a threat to others’ safety while visiting new places, so long as they have the necessary vaccination.

·         Reduced Cost on Maintenance of Health

People now have to spend less on maintaining their health with the vaccine. Airlines can also reduce the cost of ensuring a highly hygienic travel environment by the COVID -19 standard. Several regular travelers had to forfeit planned trips because they cannot afford the potential cost of maintaining their health condition if they probably got down with the virus. With this out of the way, traveling will become much more feasible.

Even with the hope of a new vaccine, we have to ensure that we plan adequately for safety ahead of a trip. It would be best if you had all you will need while in another geographical location. You must get an international drivers license in the likelihood that you will have to drive yourself around while on your trip.

Significant changes have begun already, with the news of the vaccine around the corner. We all cannot wait to experience our world once again, without the fear of a pandemic.

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Learn more

How Will International Trade Look Like After COVID 19

The novel strain of coronavirus (COVID-19) has affected almost every sector of the global economy. It has particularly precipitated a significant slowdown in manufacturing, supply chains, and international trade in general. In the beginning, the slowdown was attributed to the overdependence on China’s manufacturing power for almost all global business operations, which meant that a small disruption of China’s economy would obviously impact other economies of the world.

 But now that COVID-19 has spread out to almost every corner of the globe, it is hard to tell how far-reaching its repercussions will be in regards to international trade. Experts predict that if the virus isn’t contained soon, production could fall by up to 40 percent, which would translate to soaring unemployment and anemic economic activity for years to come.

How fast cross-border supply chains, and the global economy as a whole, will recover from this pandemic remains to be seen. We can, however, try to predict how international trade will look like after COVID-19.

Decreased International Trade

According to a recent analysis by the Chief Economist team at DG TRADE, the global trade for 2020 with respect to the previous year will fall by about 9.7%. Exports of goods and services out of and around Europe, on the other hand, could fall by 9.2% while EU imports fall by an estimated 8.8%.  In monetary value, the fall will account for about 285 billion and 240 billion Euros in exports and imports respectively. The most affected are the manufacturing sectors across European countries, particularly manufacturers of transport equipment and electrical machinery. Although this is happening in Europe, it could be a good representation of how things stand across the world.

More Companies Will Take their Businesses to International Markets

Shrinking economies will force companies to look for new growth opportunities beyond domestic borders. Even before COVID-19 came to town, companies were banking on international expansion, especially into Asia’s emerging markets, for their long-term growth prospects. Coronavirus will only be forcing them to expedite their pre-existing expansion plans.

Expansion into overseas markets aside, there are other reasons why businesses will have to consider taking their businesses international. One of those reasons is to get closer to sources of raw materials. Many companies have been forced to stop operations due to disrupted supply chains; merely because they are unable to access raw materials. Opening plants right where the raw materials are is a sure remedy for that problem in case of a future pandemic.

Another reason for international expansion is to tap into growing labor markets across the world. Coronavirus has left many companies with sub-standard workforce grappling to keep up with changing consumer needs and working environments. After this is over, every employer will be looking to diversify their pool of talents, some of which cannot be found locally. When businesses go international, exports and imports will significantly be affected.

International expansion brings many challenges, the biggest of them all being payroll. Multinational companies struggle to manage international payrolls after hiring overseas employees. They have to consider different time zones, differences in working hours for different regions, additional employee compensation laws, varying exchange rates, and unique tax laws per country. The surest way of ensuring that payroll to global employees is delivered on time is through international payroll providers. Such providers are well versed in international business requirements, which enable them to handle international payrolls with relative ease.

 Removal of Export Restrictions on Essential Goods

Export restrictions have inflicted harm for everyone. As much as such restrictions increase goods availability in domestic markets and lower prices, COVID-19 has proven that this approach isn’t sustainable. Domestic companies tend to slow down their production when forced to serve local markets, their demand for supplies from world markets shrinks, and international prices for both raw materials and finished products falls through the cracks. That harms economies that rely on international markets for essential goods, especially food and medical supplies. For the sake of global stability, export restrictions will have to stop.

Governments Will Put More Emphasis on Medical Supply Chains

3rd world countries cannot produce enough PPEs and other medical supplies as has been witnessed during this crisis. Most developed countries aren’t any better because they can’t seem to find a way of producing medical supplies cost effectively. Labor shortages, mobility restrictions, and overdependence on imported inputs have also plagued production capacity in developed countries. Going forward, governments all over the world will be spending a significant portion of their international trade budgets on medical supplies. No country in the world can rely solely on their local production capacity to guarantee supplies of medical equipment, so countries will have to join hands to support global medical preparedness.

Conclusion

The unprecedented nature of the coronavirus pandemic makes it hard to predict how international trade will look like in coming years, but experts believe that all economies of the world will struggle to recover from the current crisis. Some argue that the current slump will exceed the trade slump experienced during the global financial crisis of 2008‑09. Well, that remains to be seen.

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The Cork Tree Residences – Retirement in Portugal

The Cork Tree Residences - Portugal

Retirement should be an idyllic time of life and in Portugal, we make this a reality!
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At The Cork Tree Residences we have done all possible to create the perfect retirement idyll: Year-round sun, luxury accommodation, organically grown local produce, access to a myriad of services and facilities on tap, close to all cultural events in the Portuguese capital – Lisbon and combined it with a sustainable ethos.

We decided that The Cork Tree Residences should not just offer one type of retirement lifestyle but should be flexible enough to fit the needs of all its discerning clients. It needed to be set within a beautiful and secluded location and yet able to offer easy access to a host of activities such as gardening, sailing, golf, horse-riding, walking and shopping. It also needed to be flexible enough to provide high level and high dependency care if and when the need arises.

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