The COVID-19 Era is the Best Time to Invest in Tourism
Trying to find a way to invest in the time of COVID-19 is not a ghoulish or desperate thing to do.
I think it is the most financially prudent thing to do now.
Over 10 million Americans lost their jobs in March.
Tens of millions more will lose their jobs and file for unemployment throughout the rest of 2020.
Money is going to become very scarce for many people.
If the economy worsens the idea of, “saving money,” might as well be some abstract philosophical concept.
Most people couldn’t do that before COVID-19 because of household responsibilities, debt, and the high cost of living in America.
Saving money for the foreseeable future is my prime concern right now. If I can invest as well, I’ll do that too.
Investing in tourism is something I’ll do within the next year. No one is traveling now or getting on planes or cruises.
They will again within the next few years, which is a realistic time to expect an ROI on an investment.
I am going to invest in that certainty.
What has shocked me is what people are investing in right now when they should be saving money.
There are people filling their garages with toilet paper and buying out the inventory they find in stores.
Or, they are investing in price gouging schemes.
Everyday people are already trying to invest and profit now.
I just want to do it in a financially responsible manner.
It’s a cruel new world.
People Will Travel Again…Just Not Anytime Soon
I doubt life as we know it will ever return once science finds some mitigating solution to COVID-19.
However, I doubt people will never, ever travel again.
They just won’t do it now.
According to a recent survey, over 65% of Americans would reject a free, all-expenses paid luxury cruise vacation.
Half of Americans wouldn’t step foot on an airplane right now. The airline industry will probably lose $252 billion this year alone if a solution to COVID-19 is found soon.
Many countries are closing or restricting their borders.
Still, a tourism industry expert recently said that the industry might return to pre-COVID-19 business levels within 3 to 5 years.
That is a feasible time period to expect a ROI. And, people will travel again.
This is a better investment plan considering the other alternatives.
Right now, people trying to invest in supplies of hydroxychloroquine.
It’s a 65-year old anti-malarial drug being repurposed for experimentation as a possible treatment for gravely ill COVID-19 patients.
It isn’t a cure and isn’t meant to be used by healthy people fearful of catching COVID-19.
There is no proof it will be helpful against COVID-19. However, people are currently hoarding supplies.
If you were to buy the brand name version, Plaquenil, it could cost $4,800 annually to maintain monthly supplies.
We are living in scary times.
I think investing in tourism is a smart bet with a long-term strategy. People will travel again someday.
That is when an investment will pay off.
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Allen Francis is a full-time writer, prolific comic book investor and author of The Casual’s Guide: Why You Should Get Into Comic Book Investing. Allen holds a BA degree from Marymount Manhattan College. Before becoming a writer Allen was an academic advisor, librarian, and college adjunct for many years. Allen is an advocate of best personal financial practices including saving and investing in your own small business.