Exactly 10 days ago, on July 21, the Jamaica Hotel and Tourist Association (JHTA) held a press conference on the impact of the COVID-19 pandemic on Jamaica’s tourism industry. The first thing to understand is that this time is truly different.
The global economy, in the words of Nobel Prize-winning US economist Paul Krugman, was forced into a “medically induced” coma. In a number of global sectors, particularly anything involving face-to-face people interaction or the gathering of people, business and therefore revenues came to a near complete stop.
This was particularly true in areas such as accommodation, airlines, attractions, restaurants and bars to single out the hospitality sector and its related industries. In the US, and globally, tens or even hundreds of billions of support have been provided to those affected.