Investor Proposes Technology Application to Stimulate Tourism Industry Rebound
Mexico City, Mexico, Sept. 07, 2020 (GLOBE NEWSWIRE) -- JORGE LEAL KIRCHBACH- an expert on economic and tourism issues and a partner at Fibra Kapital, professes that the integration of technology in the tourism industry is the key to its eventual rebound. With 20 years of experience investing in hotels, he already has anticipated in previous months the complications that the current crisis will bring to the tourism industry.
After hotel occupancy rates dramatically plummeted in previous months due to the COVID-19 pandemic, Leal Kirchbach noted that the industry experienced dreadful setbacks. Cutting down of salaries and forced under-staffing in many hotels and airlines pushed such occupancy rates to an all-time low.
According to the Organization for Economic Cooperation and Development (OECD), worldwide tourism took a dramatic fall by 60 to 80 percent during the lockdown. In such circumstances, Kirchbach affirmed that technology is a great tool to set the industry back in motion. By doing so, the industry should be able to orderly accommodate travelers while abiding to the protocols and precautions on health standards.
Such a dire prediction matches a forecast provided by the World Tourism Organization (UNWTO) saying that over 100 to 120 million people could lose their jobs in the economic sector. Fibra Kapital is one of the hospitality oriented financial firms taking a strong initiative in the scene. Its vision of contributing and saving tourism in Mexico during the pandemic should translate into regional economic development.
In the belief that Mexico has a huge potential when it comes to the tourism industry, Kirchbach started an alliance with Bancrea- a bank with strong presence in the hotel industry. His objective for sparking a connection with the bank is to allow consolidation of hotel assets in Mexico through financial support and investments. For him, such action could support the recovery of the economy.
"Both hotels and the means of transport such as buses, planes, and boats must adopt new technological solutions to provide tourists with a safe experience that meets their needs," said Jorge Leal Kirchbach.
"The 'new normality' requires new digital measures. Therefore, it is necessary to accelerate the implementation of advanced technology; most likely, after this health crisis, it will continue to operate to create a more solid industry in the future, to be able to face a similar situation." He added.
Despite the uncertainty about the output for long-term tourism, Kirchbach strongly encourages the pursuit of a possible breakthrough. He also emphasized that some of the new hygiene measures must be applied permanently.
Through the presence of technological strategies and platforms in the sector, the consolidation of Fibra Kapital’s real estate hotel portfolio will conform a successful platform for the coming years. The benefits of incorporating technology in a specific niche have been proven effective by many other sectors such as transportation and communications.
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