With the recent rollout of COVID-19 vaccines, the light at the end of the tunnel is starting to shine for the tourism industry. However, the process of approval, production, and distribution will still take plenty of time – possibly till the end of 2021
The outbreak of the virus has so far caused an economic fallout all over the world. As COVID-19 cases increase, commodity prices decrease, unemployment rises, stock markets flounder, and value chains continue to fail
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Developing markets are usually disconnected and unregulated, which limits their opportunity to bridge market gaps and balance demand and supply. The fragile connection between small-to-medium enterprises often results in lost business opportunities, higher production costs, and limited scalability. Their insufficient knowledge and skills in business development, accompanied by limited access to technology and finance, pose real obstacles to industrial upgrading and innovation.
