In September 2020 MY RANGGO launched its 2nd survey. This survey was specifically for Hospitality and Tourism business owners. Our aim was to establish how the COVID-19 Tourism Shutdown has affected their business during the months of March-August 2020.
Read our 1st Survey: The Effects of COVID19 on Hospitality & Tourism Industry Staff and Owners
A total of 88 People with Hospitality & Tourism businesses took our second survey, with 81 survey completions.
40% of those answering our survey have been open for less than 4 years and could be considered most at risk, in terms of surviving closure for 7 months. Business experts give a guide of 2-3 years in operation, on average, before a business starts to make a profit.
22% of those taking part had either already closed permanently, or will close permanently.
The impact of a Tourism Lockdown will not just be directly felt by the Tourism and Hospitality Industry but also other businesses such as realtor and landlords. 31% said they had or would be terminating their Land, or Land & Building Lease, or selling their property. In some cases they will adapt their business to be online but others will close permanently.
Read our latest survey results below:-