How does the current war affect the hospitality sector?
Recently, a conflict began between Russia and Ukraine, due to the military incursion of Russian troops into the country of Ukraine. This invasion has triggered a series of crises in different sectors worldwide, but how is the hospital sector affected as a result of this war?
First, it must be mentioned that this industry had already been going through the ravages of the pandemic and after different sectors reopened their doors to give rise to what we know as “normality”, tourism is again threatened by the war between Russia and Ukraine.
In a report published in National Geographic, carried out by the journalist, José Alejandro Adamuz, he highlights that Spain is one of the countries the least affected by the war. However, it suffered a 26% decrease in destination searches. Likewise, in Eastern European countries, a stagnation has begun to be noticed in terms of travel consumption.
Although it is true, the effects and consequences of this war will be in the medium term, although there are already results emerging. Among them is the closure of airspace and the rise in fuel prices, a situation that aggravates travelers and businessmen in the sector.
Obviously, as a result of the sanctions imposed on Russia, there will be a pronounced decrease in Russian visitors in different tourist destinations. In the same way, experts point out that this situation caused by the war is still premature, so the consequences on economic inflation must be expected, since it is difficult to predict results of such magnitude.
Finally, in addition to the reduction of Russian visitors, a change in the behavior of traveling consumers will be experienced. In general, I can detect the confidence and spending ability of travelers as some consequences of the war at the present stage.