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As the world gradually recovers from the pandemic, the hospitality sector is still rebuilding. Limitations on direct human contacts, currency fluctuations, and increased fuel and electricity prices are all anticipated to persist. Yet, where movement restrictions were lifted, tourist numbers increased. According to a CBRE report in 2022, the equivalent number of pre-pandemic tourist arrivals will reach the Asia-Pacific by 2024, while hotel performance will remain the same as in 2019. The 2020 UN World Tourism Organization report, “Rethinking Tourism,” underlined the hospitality industry’s immense potential to generate beneficial economic effects to address pandemic-related issues while also reforming the sector through innovation, climate action, and investment. The hospitality industry is urged to embrace an innovative mindset for reconstructing sustainable business models for the long term in addition to recovering more quickly from the pandemic over the short term.
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