The future of travel, where to invest and awakening the economic aftermath.
Since the beginning of March, the COVID-19 pandemic has resulted in over $237 billion in cumulative losses for the U.S. travel economy alone.
International Travel was down by 88% from last year, and an analysis by Oxford Economics on April 15 models the economic impacts of the travel industry from expected downturns in terms of GDP, unemployment and taxes forecast with:
- The U.S. economy projected to lose 8 million jobs commencing in April
- Travel industry losses will result in a GDP impact of $1.2 trillion in 2020
- Travel declines in 2020 will result in a loss of $80 billion in taxes this year
With the future of travel and what it may become as a focus for many, there is also a grand opportunity for investors who have vision and an appetite to disrupt the industry. With a vast perspective there is real potential for our economy to come back to life, while traveling safely and experiencing the world in a fun new way.
What we may have thought as an unlikely way of living, constrained to our homes has become the new normal and we don’t know for how long or when the measures will tighten once again. Zooming is the new paradigm for businesses, from dance studios and virtual doctors visits, to the homeschool dynamic that has fallen into our laps. As for travel, to date, we have limited options, with virtual tours of museums and landmarks consisting of still and pre-recorded viewing available online – But what if we told you there is something unique and special brewing that has been described as “This could be the Single Most Influential Company to come out of the pandemic”.
Developed by Huvr Inc, (an acronym for Human Virtual Reality) this new technology gives travelers the world at their fingertips, with full control to explore or see events, landmarks and news in real time from a mobile device or smart TV. In addition, it provides a new way to travel safely, creates employment and can stimulate global economies – And for investors, year one projections show an $8 million dollar gross revenue. Further, by year 5, with the amount of users and revenue projected at the most conservative levels (based on data and statistics) – the return on investment could be north of 500%.
If you want to know more about this technology, the investment opportunity and the capabilities such as gamification, augmented and virtual reality, the subscription model and a scaled roll out of the gig economy venture – FON is now opening up to our sophisticated readers a private opportunity to access more information on Huvr Inc.
Email the team at [email protected] to know more on how to be a part of its next round of investment.
By Jaime-Lee Fraser
Chief Marketing Officer