Reference no: EM133207799

Assignment:

TERM PAPER

Since the start of Pandemic in 2020. The world was in great awe as economic stability was shaken and various industries have suffered cataclysmic blow that nearly exhausted the financial pipeline. Progress was halted that even developed countries suffer a major set-back. US and China the two-world major economic powers barely hold its counter-measures for the effects of the pandemic. Developing countries such as the South East Asian Region were unable to progress as most member nations were very much hit by the pandemic.

The Philippines is one of the many countries who tried to stave off the effects of pandemic, and since we are a nation that depends on service-oriented industry our tourism and hospitality industry was badly hit and the severity of which cause to shrunk the GDP contribution of the industry, unemployment rate among hoteliers were the worse. Not only unique to the Philippines but the entire tourism network across the globe.

By the last quarter of 2021 and the first quarter of 2022 we see changes and the ability to adapt in these times. We had a glimpse of a returning tide of tourism market. Though it is not the full potential of our industry we are setting new channels to normalize and recuperate at the same time. As we move forward and eventually end this pandemic through cooperation, we will be facing brand new challenges and hopefully we can restore what we lost.

1. A term paper that have blatant and unique ideas on how to recover the tourism and hospitality industry of the Philippines.