A Data Analysis on a Research Done On the Impacts of Corona Virus on Tourism, Trade and Companies
Prior to the interviewing day, the CEOs of the chosen companies that deal with hotel and accommodation were contacted and asked if they would be willing to undertake the survey. Luckily all the six CEOs agreed to this. A well-drafted email was sent to each participant each containing similar questions. Under each question, we gave enough space for every participant in drafting their answers. For the data we got, 70% of the participants in the survey explained that coronavirus had brought business to a closure especially after the declaration made on international flights that served as a basis for their work. 30% claimed that they had appropriately prepared and stocked up their stores. They stated that business had not been so bad for them since they have the required essentials to serve their customers. However, they explained that if the coronavirus issue is not managed as soon as possible, it will shut down businesses.
The research questions that were emailed to them are as follows;
- What change have they seen in terms of workflow for their business?
- What are their current plans to help stabilize the situation?
- What will be the long term effect they will be exposed to if this problem is not addressed immediately?
- What are their plans in case something like this happens again?
- Have they joined hands with other organizations to look for solutions?
- What are the benefits they tend to achieve through these organizations?
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There was 100% negative response on the current workflow they getting in their businesses. Workflow had reduced due to the coronavirus. Since they deal in hotel and accommodation, they highly rely on customers who travel into the country from other countries to get accommodation in their hotels. Also, they highly depend on imported products to keep up and maintain the service offered to clients. Reduced workflow means there will be no income for these hotels which might even pull them out of business if coronavirus persists.
40% of these CEOs explained that they were still looking for ways in which they would stay in business even with these pandemics. They currently do not have any solutions for this but are looking forward to coming up with better ways of managing the situation. 60% of the CEOs have an already laid out plan of dealing with the current issue that might get them back into the business. Some of these measures mentioned are such as finding local markets for their industry as well as looking for other international markets in which they can buy the goods they require.
One of the CEOs explained that if the coronavirus problem persists, they might be shut out of business altogether. He gave us an example of the current book readings they have. On a normal workday, they would make up to $129.70. Since the rise of this pandemic, they are now making $10 per day, which is on the lower side when compared to what they have been getting. He, therefore, went ahead to explain that they are unable to keep up with the running expenses as there is no profit gained. To curb such pandemics, they explained that they would work more on saving for such situations as well as stocking up. 80% of this group explained that they had started the measures of venturing into local business for the time being until the situation is back to normal. From the data they gave us, they are planning to come up with an organization that will help combine and implement ideas that will help them in such a situation. The organization will come up with measures like bringing in finances to jointly make imports of goods they require for the industry. By doing this, they will be able to rise their daily income from less than 40% they are getting to at least 60% during this pandemic.
The data gotten from this online research proved that if the situation continues a lot of businesses and companies will be affected. Also, with the measures they have come up with, such as creating a lifesaving organization, they will be able to make some profit even with the rise of this pandemic.