Based on our research in Australia, it can be seen that international dating has become more popular online these days because the uncertain times have surely made internet dating more mainstream – international travel has been paused nowadays due to the current pandemic. Meanwhile, many international businesses are affected by COVID-19, even though they receive financial support from the government right now.
The current global economy informs international dating.
Indeed, when you can’t travel internationally, you can only use the Internet to participate in international dating at the moment. At the same time, a study in Australia indicates that the economy plays a key role.
According to ISO3100 Risk Management Framework, establishing the context is the prerequisite of risk identification. As a popular tourism destination, Australia currently faces a range of risks that require a lot of attention. Hence, specific analysis will be provided in this report.
Obviously, the recent impact of the bushfires in Australia is tremendous. Thiessen (2020) maintains that the Australian bushfires might cost the tourism industry $4.5 billion because both domestic and overseas tourists have cancelled their travel plans. Based on Political, Economic, Social and Technological Analysis (PEST Analysis), the following aspects have been identified.
It is said that economy can dramatically influence politics, and tourism is a significant part of economy in Australia. Thiessen (2020) contends that Australia’s tourism industry is worth approximately $40 billion to the Australian economy; unfortunately, more than a tenth of that is gone due to the bushfires. Apparently, when tourism and hospitality industries are affected by the bushfires, the political relationship between Australia and China is indirectly affected as well (China is Australia’s No. 1 trading partner and contributes a large number of overseas tourists to the Australian tourism and hospitality industry every year). Besides, politics and economy are intertwined.
As to social and technological analysis in Australia, the impact on tourism and hospitality industries is relatively limited. To be more precise, restrictions caused by COVID-19 are gradually being lifted right now in Australia, although social distancing will be maintained until the vaccine is developed. Also, the government is considering lifting restrictions regarding international travel and domestic travel. That means though the tourism industry is still affected to some degree, the hospitality industry should face less stress as pubs, cafes and restaurants will be open soon. As to modern technologies, Australia does not really have the most advanced broadband Internet, which means tourism and hospitality industries aren’t really ready for leveraging the Internet for the best online work environment.
Currently, the COVID-19 outbreak in China and Australia is the biggest crisis because tourism and hospitality industries in Australia are significantly affected. With the help of PEST Analysis, the situation can be explained in detail. In terms of international politics, Sharma (2020) points out that COVID-19 has already revived the US-China strategic rivalry. As Australia is a vital ally of the United States, the situation will unavoidably affect the political relationship between Australia and China, too. That means there might be some new policies which could influence the tourism and hospitality industry in Australia in the future. Since this crisis is happening right now, the future is still uncertain when it comes to international politics that may affect Australia.
The economy plays an important role.
Moreover, COVID-19 has already affected the Australian economy negatively. Now the unemployment rate is approaching 7% and it is reported that unemployment will probably rise by at least 1% by the end of 2020 (Smith 2020). As a matter of fact, the Australian economy was already slowing down before the coronavirus crisis. After the arrival of coronavirus, the main effects on the Australian economy will probably be felt by the tourism and hospitality sector. More specifically, the impact on travel-exposed sectors alone will wipe 0.5% off the Australian GDP this quarter.
Social and technological aspects are also involved in terms of COVID-19. More exactly, changing needs of tourists influence tourism and hospitality industries, i.e. social distancing means most shops, cafes and restaurants can only allow a certain number of customers to go inside at a time. In addition, people are not interacting with each other in person most of the time anymore, as most individuals prefer online conversations while working from home. Nevertheless, these are not unique to the tourism and hospitality industry in Australia.
Truthfully, Australia handled crises reasonably well in the past. For instance, during the Global Financial Crisis in 2008, Australia overcame the crisis by choosing the right trading partner (China) which imported a large amount of iron ore from Australia (Dobbie 2009). To be more exact, China absorbed AU$32 billion of Australia’s exports, i.e. 15% of Australia’s export (an 8-fold increase in ten years). Nonetheless, the current COVID-19 crisis is a very different situation due to its uncertainty.
“Does love have anything to do with the economy? Let’s listen to international dating experts.”