Each student will be required to select a topic from a prescribed list of key historic moments and research and write a report on how that key moment influenced the host/guest relationship....

HAT2001 Introduction To Hospitality and Tourism
Running Head: HAT2001        0
HAT2001        4
HAT2001 Introduction To Hospitality and Tourism
Project
Student’s Details
6/16/2020
Contents
Introduction    2
Executive Summary    2
Global Financial situation in early COVID-19    2
Impact of COVID-19 on the hospitality industry    4
Conclusion and Recommendations    6
References List    7
Introduction
To establish a business, there are so many industries. The hospitality and tourism industry is one of the main industries which contribute to the economy of the country. Due to the recent pandemic situation COVID- 19, every business is affecting and this situation also creates a bad impact on the hospitality and tourism industry. COVID-19 was firstly declared as the world health emergency by the WHO (World Health Organisation) in January 2020 but it firstly appeared in Wuhan, China in December 2019. In the period of last six months, it impacted the whole world which is impacting the economic situation of the world. This emergency has developed into an economic crisis and global public health that has affected the established world economy in nearly 100 years. The world is as yet dealing with the novel coronavirus situation and there is no uncertainty that the pandemic will change the globe. With the cessation of the partial or complete globalized world, the uncertainty caused by human life, reducing the overall impact on business and economic development and long-term uncertainty in another (Tackling the coronavirus (COVID-19) crisis together: OECD policy contributions for coordinated action, 2020). The following report will explain the impact of COVID-19 crisis on the hospitality industry and the global financial situation in the early stage of this pandemic situation.
Executive Summary
Protecting people is becoming a priority for businesses and governments as the impact of the novel coronavirus is spreading throughout the world. Among all other businesses, it is affecting the hospitality industry in a very bad way because in this situation, people cannot go out and they cannot travel. This report describes the effects of novel coronaviruses on the global economy and the hospitality industry, and also describes how companies can improve their financial situation. As sanctions loosen, the road to economic recovery remains very unclear and helpless to the second wave of infection. It will be important to strengthen the healthcare system and help people and businesses adapt to a post-COVID.
Global Financial situation in early COVID-19
The novel coronavirus pandemic is a worldwide wellbeing emergency unprecedented in living memory. It has set off the most extreme monetary downturn in about a century and is making huge harm to individuals' wellbeing, occupations, and prosperity. The Outlook centers around two similarly likely situations – one in which the second flood of contaminations, with restored lock-downs, hits before the finish of 2020, and one in which another significant flare-up is maintained a strategic distance from. In view of Covid-19, public debt is anticipated to ascend to uncommonly significant levels in numerous nations. Solid financial help is justified yet has results. Public spending should be all around focused to help the most powerless and give the essential speculation to reasonable recuperation (Mahar, Mahar, Javed and Mahmoudi, 2020).
The world is cu
ently dreading the most noticeably worst since the Global Financial Crisis (GFC) as COVID-19, which has now authoritatively been announced a pandemic. Like influenza, the infection that causes the illness influences the respiratory framework, yet it is multiple times progressively deadly. the death rate is very high than South Asia Respiratory Syndrome (SARS), or Middle East Respiratory Syndrome (MERS), the high infectivity of COVID-19 has just prompted a great many passing in China and is expanding quickly on the planet.
Since the spread of COVID-19, its out
eak can be seen in all countries and cu
ently it has spread to more than 190 countries. The impact of this epidemic can be seen on global economic development. Some reports suggest that the infection of COVID-19 is so te
ible that its infection is causing more than 2.0% loss to monetary growth worldwide. If this present situation persists for some more time, then the situation of financial recession will go on increasing around the world and the...